The S&P 500 rose to end just short of a record high on Friday, as a blockbuster Nasdaq debut of South Korea’s SK Hynix fueled optimism ⁠about memory-chip ​makers, while investors looked ahead to quarterly earnings season kicking off next week. Canada’s main stock index rose to its highest level in more ⁠than ​three weeks, with investors cheering Aritzia’s earnings report and after domestic data showed the economy adding more jobs than expected last month.

The artificial intelligence trade returned to the spotlight after SK Hynix ended 13% above its offering price at US$170 in a high-profile U.S. listing. The semiconductor company raised over US$26 billion on Thursday by selling American Depositary Receipts priced at US$149 each. U.S. stocks ​added to gains after U.S. President Donald Trump said that Iran ‌had asked to continue talks and the U.S. had agreed, but that the June ceasefire was “over.”

Attacks between the U.S. and Iran this week revived concerns that high energy prices could fuel more inflation and force the Federal Reserve to hike interest rates.

Reports from big U.S. banks will kick off the second-quarter earnings season next week. Analysts ‌are expecting S&P ​500 earnings to surge 24% from ‌a year earlier, with technology companies driving much of the growth, according to LSEG I/B/E/S.