Midday Fly By: SK Hynix sets record with U.S. listing, Delta reports Q2 beat

The major averages were mixed near noon following Thursday's strong session as investors balance continued enthusiasm for artificial intelligence against renewed geopolitical uncertainty. Despite the up-and-down nature of the week, the S&P 500 and Nasdaq are both on track for weekly gains, while the Dow is on pace for a small weekly decline. A key news story of the day is the debut of SK Hynix's U.S.-listed American depositary receipts. The South Korean memory-chip maker raised approximately $26.5B in one of the largest equity offerings ever, underscoring continued investor appetite for companies tied to AI infrastructure. The listing follows the blockbuster SpaceX IPO and reinforces the view that capital markets remain receptive to large-scale technology offerings despite recent volatility. Meanwhile, traders continue to keep an eye on tensions in the Middle East. Oil prices have retreated after a surge earlier in the week as President Donald Trump said that Iran called to make a deal, while Qatar and Pakistan are reportedly aiming to bring both sides back into peace talks. While investors appear increasingly confident that energy supplies will remain intact, the situation.