The U.S. stock market closed higher on Friday, with the S&P 500, Nasdaq Composite, and Dow Jones all posting modest gains, marking the third consecutive day of gains. The S&P 500 rose 0.42% to 7,575.39, the Nasdaq Composite gained 0.29% to 26,281.61, and the Dow Jones added 0.29% to 52,637.01. The broad-based rally suggests a risk-on tone, with investors likely favoring equities over fixed income and cash. The most significant driver appears to be the strong debut of SK Hynix's American Depositary Receipts (ADRs), which surged 17% in its market debut, contributing to the positive sentiment across the board. Other notable movers included Micron, Intel, SpaceX, and Meta, which also saw gains, further supporting the broader market rally.

The headlines reflect a generally positive outlook, with most sources highlighting the S&P 500's winning streak and the strong performance of the tech sector. The market's performance ahead of SK Hynix's IPO was mixed, with some sources reporting a divergence in futures, while others noted a flat Dow Jones. Oil prices saw gains, which could have a slight negative impact on energy stocks, but this was offset by the broader risk-on sentiment. The market's performance is also influenced by the ongoing geopolitical tensions, with new strikes in the Middle East causing some volatility, though the market's overall tone remains risk-on. The strong debut of SK Hynix's ADRs