US stock indices closed higher on Friday ahead of the earnings season, with SK Hynix surging in its market debut. The S&P 500 gained 0.4%, the Nasdaq 100 advanced 0.3%, and the Dow added 150 points. SK Hynix American depositary receipts jumped 12.8% above their offering price after raising $26.5 billion in the largest-ever US listing by a foreign company. Peer chipmakers traded mixed, with Nvidia advancing 4% and AMD rising 2%, while Broadcom lost 0.3% and Intel shed 2.4%. In tech services, Meta jumped 6% after research firm SemiAnalysis published a positive report on its AI compute business. Meanwhile, financial stocks and other traditional sectors found support as oil prices halted their rebound, easing concerns over another Fed rate hike. JPMorgan added 0.3%, while Mastercard and Bank of America both gained 0.7%. In manufacturing, Applied Materials advanced 2.4%, while Caterpillar rose 1.6%.

Oil prices fell on Friday but still ended the week higher because the conflict between the United States and Iran continued to raise concerns about global energy supplies. Crude oil settled around $71 per barrel, recording a weekly gain of about 4%. Markets were encouraged by reports that the US and Iran will continue technical and peace talks despite renewed military exchanges and uncertainty over the ceasefire. However, shipping through the Strait of Hormuz, a critical route for around 20% of the world's oil and gas trade, remains significantly disrupted, keeping a risk premium in oil prices. The market expects the conflict to remain limited, but reduced tanker traffic and possible supply interruptions continue to support prices. Meanwhile, the International Energy Agency warned that prolonged tensions could delay rebuilding global oil inventories and disrupt the expected oil market balance.

Mexico's industrial production fell 0.7% year-on-year in May 2026, reversing a 2.3% increase in April, lower than market expectations of a 0.1% drop as weakness was broad-based across sectors. The downturn was led by a contraction in manufacturing activity by 1.5% after a flat reading in the previous month, reflecting weaker output across industries, particularly in the manufacturing of computers and communication related equipment (-7.5%). Utilities production declined further by 0.9% after a 0.4% drop, while construction activity fell 0.3%, reversing a 10.4% gain despite a surge in civil engineering works (15.9%). Meanwhile, mining and quarrying output growth accelerated to 3.9% from 3.4%, supported by stronger growth in mining related services (51.3% vs 23.7%). On a seasonally adjusted monthly basis, industrial activity fell by 0.8% in May, reversing a 2.1% increase in the previous month.

The unemployment rate in Canada eased to 6.5% in June of 2026 from 6.6% in the previous month, below market expectations that it would remain unchanged and tying for the lowest since July of 2024. Net employment rose by 18,000 positions to 21,139,700, mostly supported by part-time positions. In the meantime, unemployment fell by 13,200 to 1,469,200. This was aligned with a job finding rate, which is the proportion of unemployed who found a position since May, to 24.3%. The developments translated to an unchanged labor force participation rate of 65.0%, which has remained relatively steady since the start of the year despite the energy supply shocks due to the war in Iran and the exchange of tariffs with the United States.

Brazil's annual inflation rate eased to 4.64% in June 2026 from 4.72% in May, below market expectations of 4.80%. Price growth slowed for food and beverages (3.82% vs. 3.87%), housing (5.85% vs. 6.22%), clothing (3.99% vs. 4.60%), transport (3.95% vs. 4.05%), and education (6.33% vs. 6.36%). Meanwhile, inflation accelerated for household articles (0.69% vs. 0.54%), health and personal care (6.21% vs. 6.04%), personal expenses (5.79% vs. 5.77%), and communication (1.83% vs. 1.75%). Energy and fuel inflation remained elevated at 7.71%, reflecting supply disruptions linked to the closure of the Strait of Hormuz during the US-Iran conflict, although it eased from 8.90% in May as geopolitical tensions showed signs of moderating. On a monthly basis, consumer prices rose 0.16%, following a 0.58% increase in May.

Italy’s industrial production fell 0.3% month-on-month in May 2026, slightly more than market expectations of a 0.2% decline, and reversing a revised 0.4% increase in the previous month. This marked the first contraction since January, as output declined in capital goods (-0.1% vs 1.0% in April) and intermediate goods (-0.8% vs 0.8%), while the fall in consumer goods deepened (-0.5% vs -0.1%). In contrast, energy production rebounded sharply (4.6% vs -0.2%). On an annual basis, industrial output rose 1.1%, unchanged from the revised April reading. Growth eased for capital goods (5.0% vs. 6.4%) and intermediate goods (0.8% vs. 1.8%), while the decline in consumer goods moderated (-3.2% vs. -4.1%), and energy output returned to growth (1.9% vs. -2.7%). By industry, the strongest growth was recorded in transportation equipment (11.6%), basic pharmaceutical products and pharmaceutical preparations (3.5%), and chemical products (3.3%).