The major stock indexes ticked higher on Friday as South Korean memory chip giant SK Hynix soared in its first day of U.S. trading. The benchmark S&P 500 rose 0.4% on Friday, while the blue-chip Dow Jones Industrial Average and tech-heavy Nasdaq Composite each rose 0.

Chip stocks fell ahead of SK Hynix's Nasdaq debut, expected to be the day's main event. The South Korean memory chip maker and Nvidia supplier raised $26.5 billion in its US share

The stock market has boomed on AI euphoria, while the trajectory of the U.S. economy has been more tepid, economists said.

The Dow, S&P 500, and Nasdaq are rising as the tech rally takes a slight breather and stock markets rotate out of AI plays.

David Bahnsen, founder and managing partner of The Bahnsen Group, details the US stock market's resilience amidst Iran tensions. He explains that investors prioritize corporate profits and the AI buildout over geopolitical events.

SK Hynix Chairman Chey Tae-won said demand for AI memory chips continues to outpace the company's expansion plans. Speaking to CNBC, he said customers and partners consistently as