Stock Market Update
16-Sep-26 11:00 ET
Intel trades higher on potential SK hynix partnership
Dow -9.25
at 52083.86,
Nasdaq +204.00
at 26206.62,
S&P +28.96
at 7614.69
[BRIEFING.COM] The major averages sit bear their best levels of the session, with the DJIA reclaiming its flat line.
SK hynix Inc. (SKHY 179.38, +4.55, +2.60%) is trading higher after Reuters reported exploratory talks with Intel (INTC 101.58, +4.44, +4.57%) that could give the memory maker its first U.S. chip fabrication capacity, while potentially bringing Intel in as a partner for its delayed Ohio project. The companies are considering a lease of part of the facility or a venture involving major cloud customers, but SK hynix says no partner or production plan has been finalized. A broader technology rally and resolution of a separate labor dispute may also be supporting the shares.
Currently the information technology sector (+0.9%) still sits atop the S&P 500 sector leaderboard, with the PHLX Semiconductor Index up 1.8%.
