S&P 500 and Nasdaq 100 Post New Record Highs on Chip Stock Strength

U.S. stock indexes rallied on May 13, 2026, with the S&P 500 and Nasdaq 100 (US Tech 100) posting new record highs led by gains in chip and memory makers amid optimism around a potential U.S.–China summit-related trade deal. Major tech names including Nvidia, Tesla and Apple helped lift the market despite stronger-than-expected Apr PPI data, which pushed the 10-year Treasury yield to a 10-month high near 4.50% and raised Fed-hawkish concerns. Oil fundamentals remain tight per the IEA, while earnings beats and upbeat guidance from many firms supported investor risk appetite. Overall market tone was constructive for risk assets, though higher inflation readings and rising yields add a hawkish policy risk.