Stock market today: S&P 500, Nasdaq futures rise with fresh PPI inflation data on deck

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Updated Wed, May 13, 2026 astatine 4:39 AM CDT 1 min read

US banal futures traded mixed connected Wednesday, with tech stocks eyeing a rebound arsenic investors braced for the adjacent tranche of ostentation information and waited for updates connected US-Iran talks and President Trump’s travel to China.

Dow Jones Industrial Average futures (YM=F) slipped 0.2%, portion those connected the S&P 500 (ES=F) edged up 0.2%. Contracts connected the tech-heavy Nasdaq 100 (NQ=F) climbed 0.7% aft stocks mostly fell connected Tuesday amid a spot assemblage sell-off.

Markets are looking to the April wholesale ostentation study owed Wednesday greeting to trial CPI signals that rising substance prices are stoking wider terms pressures. The user ostentation merchandise connected Tuesday came successful hotter than expected amid the Iran warfare fallout, reinforcing bets the Federal Reserve volition clasp involvement rates dependable astatine its adjacent meeting.

Meanwhile, President Trump is traveling to China for a acme with his counterpart Xi Jinping, wherever the 2 leaders are expected to sermon commercialized and AI. Nvidia CEO Jensen Huang volition present articulation American CEOs specified Tesla’s Elon Musk and Apple’s Tim Cook accompanying Trump connected the trip, aft initially not being invited.

The sojourn comes arsenic a shaky ceasefire holds, but the imaginable for US-Iran bid talks remains uncertain. Trump reiterated subject threats against Iran up of his accomplishment successful China, which is Iran’s largest lipid lawsuit and a cardinal diplomatic partner.

Earnings play continues, with Cisco Systems (CSCO), Alibaba Group (BABA), and Birkenstock (BIRK) acceptable to study results.

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Memory crunch deepens chasm betwixt banal winners and losers

Bloomberg reports:

The worsening shortage successful planetary representation chips owed to the artificial quality buildout is driving a widening gulf successful firm results and banal performances.

Shares of representation makers Micron Technology Inc. (MU) and Samsung Electronics Co. (005930.KS, SSNLF) person surged to grounds highs connected blockbuster results driven by buoyant merchandise prices. Meanwhile, user products makers from HP Inc. (HPQ) to Nintendo Co. (NTDOY, 7974.T) person been weighed down by nett pressures stemming from higher spot costs.

The compression shows however AI is reshaping the spot cycle, turning representation from a commodity input into a captious bottleneck. That has made pricing powerfulness the dividing enactment successful planetary equities: suppliers are posting windfall gains, portion instrumentality makers look higher costs and weaker margins.

The situation has been evident successful caller results. Memory pricing was mentioned much than 550 times successful institution net calls and quarterly reports truthful acold this twelvemonth — already much than immoderate afloat twelvemonth successful information compiled by Bloomberg tracking planetary equities since 1999.

“It’s becoming progressively evident that the representation crunch is not lone worse than feared but besides becoming much prolonged than had been expected,” said Michael Brown, a elder probe strategist astatine Pepperstone Group Ltd. successful London. “With AI request continuing to surge, what we present perceive from those adjacent to the contented is that we mightiness spot the crunch continuing successful immoderate mode perchance arsenic acold arsenic 2030.”

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Oil plateaus aft 3 days of rises, with Iran warfare threats inactive hampering tanker movement

Bloomberg reports:

Oil steadied aft rising astir 8% implicit the past 3 sessions arsenic a solution to the Middle East struggle remains elusive, with Iranian exports showing further strain from a US Naval blockade of the Strait of Hormuz.
Brent (BZ=F) crude traded adjacent $107 a barrel, portion West Texas Intermediate (CL=F) futures were beneath $102. There were nary ocean-going tankers observed astatine Iran’s Kharg Island implicit the past respective days, outer images show, the archetypal motion of an extended halt astatine the nation’s main export hub since hostilities began.

The Iran warfare is improbable to diagnostic heavy successful talks betwixt President Donald Trump and his Chinese counterpart Xi Jinping successful Beijing this week, the US person told reporters astatine the White House connected Tuesday, saying commercialized discussions would beryllium prioritized. He added that, “we person Iran precise overmuch nether control.”

Read much here.