S&P 500 Posts Weekly Gain as Technology, Energy Rally

The Standard & Poor's 500 index rose 1.2% this week, lifted by a fresh burst of AI enthusiasm amid geopolitical jitters as Washington and Tehran resumed high-stakes negotiations. The S&P 500 ended Friday's session at 7,575.39, securing a second straight weekly advance. The gauge has gained 1% in July and is up 11% this year. AI sentiment got a boost Friday from the strong Nasdaq debut of SK Hynix (SKHYV). The South Korean chipmaker's American depositary shares jumped 13% to $168.40 after the offering of 177.9 million ADSs priced at $149 apiece. Investors were also watching developments in US-Iran diplomacy. President Donald Trump said the US will continue negotiations with Iran, while reiterating that their ceasefire is over. Technology led sector gains for the week, rising 3.4%, followed by a 3.2% advance in energy and a 2.3% increase in communication services. Consumer discretionary and financials edged higher. Hewlett Packard Enterprise (HPE) jumped 18% this week, and Arista Networks (ANET) advanced 17%, the biggest gains in tech. Baker Hughes (BKR) recorded the largest gain in the energy sector, climbing 9.1%, as the company received conditional approval from the.