Market Close: Stocks Gain, Iran Tensions Ease; Home Prices Set Record • 7/9/26TITLE

• Major indices (Dow, S&P 500, Nasdaq) closed higher, with AI-related stocks like AMD and Micron seeing significant gains.
• SK Hynix's US listing of American Depository Receipts (ADRs) was more than seven times oversubscribed, potentially raising $25 billion, reflecting strong demand in the AI supply chain.
• PepsiCo reported disappointing quarterly results, with input cost inflation expected to rise in the second half of the year, leading to a share pullback.
• June home sales were disappointing, but the median home price hit a new record high of $440,600, up 1.8% year-over-year.
• Ohio was ranked CNBC's best state for business, while Hawaii was identified as the worst due to high costs and infrastructure challenges.

Wall Street opened higher with the AI trade gaining steam and Iran tensions cooling. Major indices saw gains, with chipmakers mostly up and Meta rising on AI coding market entry. SK Hynix's US listing was heavily oversubscribed, highlighting demand for memory chips. However, PepsiCo shares pulled back on disappointing quarterly results, and June home sales were down despite record-high prices. Ohio was named the best state for business, while Hawaii ranked last.