Stock Market Today, May 13: Tech Optimism Overshadows Inflation Fears

Tech optimism drove markets higher on May 13, 2026, with megacap chip names leading a tech‑led rally: Nvidia notched another record high, helping the Nasdaq climb 1.20% to 26,402.34 while the S&P 500 rose 0.58% to 7,444.25. Micron jumped nearly 5% and Akamai rallied after an analyst upgrade; Ford surged on energy‑unit optimism and Constellation Energy weakened amid utility pressure. High oil (WTI ~$102/bbl) and sticky inflation remain a headwind, but Morgan Stanley lifted its 2026 S&P 500 target to 8,000, arguing AI adoption and strong corporate results could sustain gains. The U.S. Senate confirmed Kevin Warsh as Federal Reserve Chair, adding a policy backdrop investors will watch into the June Fed meeting. Overall market tone is bullish for tech and AI‑exposed names, though inflation and oil risks temper the outlook.