U.S. stocks finished broadly higher on Thursday, May 14, 2026, with the major indices rising in unison as the AI trade roared back and investors looked past lingering inflation worries.
Index performance
All three major benchmarks advanced, with the AI‑heavy Nasdaq leading gains and closing at another record as large‑cap tech and semiconductor names extended their recent breakout. The S&P 500 also pushed to a fresh high, adding roughly 0.5%–0.6% as strength in technology and communication services more than offset softer action in defensives and rate‑sensitive groups. The Dow joined the party as well, building on its recapture of the 50,000 level and logging another positive session, helped by technology, select industrials, and legacy platforms that are pivoting aggressively toward AI infrastructure.
Macro and Fed backdrop
The equity rally is unfolding against a backdrop of still‑firm inflation and sticky Treasury yields, with recent consumer price data coming in hotter than many investors would prefer and the 10‑year note yield holding in the mid‑4% area. That supports a “higher for longer” Fed narrative, but Thursday’s price action suggested investors are increasingly willing to look through near‑term policy risk in favor of a durable AI‑driven earnings cycle. Traders also kept one eye on U.S.–China dynamics, including this week’s Beijing summit between President Donald Trump and President Xi Jinping, as any shift on trade, tech export controls, or capital flows could quickly ripple through the AI and semiconductor complex.
Sector moves and AI leadership
Technology and communication services were the clear leaders as investors piled back into AI infrastructure, chipmakers, and cloud‑adjacent platforms. Cisco Systems (CSCO, $115.53, +13.41%) remained a standout after its post‑earnings surge, with the company’s emphasis on reorienting spending toward AI networking and data‑center infrastructure reinforcing the idea that legacy tech is racing to retool for an AI‑first world. Semiconductors and AI hardware names rode the same wave, as the market treated Cerebras’ blockbuster debut and the prospect of more AI listings as confirmation that demand for high‑end compute and accelerators is still in its early innings.
Cerebras IPO and the AI issuance wave
Cerebras Systems’ (CBRS) IPO was the day’s marquee single‑stock story, with the AI‑chip specialist raising billions and seeing its shares more than double at one point in their first session of trading closing at $311.07, +68.15%. The deal’s size and immediate secondary‑market enthusiasm put Cerebras on track for one of the largest U.S. IPO valuations of 2026 so far, making it a potential bellwether for a broader pipeline of AI‑centric offerings waiting in the wings. Beyond the headline pop, the transaction reinforced several themes: strong appetite for differentiated AI hardware, willingness to fund capital‑intensive infrastructure plays, and a reopening IPO window for high‑growth tech after several years of fits and starts.
SpaceX IPO prospects and space‑tech sentiment
On the private‑market front, reports that a public prospectus for SpaceX could land as soon as next week helped energize the already‑buoyant growth backdrop. A potential listing later this year — widely expected to target a massive valuation and raise tens of billions in fresh capital — is being framed as a candidate for the largest IPO in history. Even before a formal filing appears, the mere prospect of a SpaceX deal is animating the broader space‑tech complex, with investors reassessing satellite, launch, and downstream data‑analytics names as potential second‑derivative beneficiaries of a marquee offering.
Trading tone and risk appetite
Under the surface, Thursday’s action underscored a market still inclined to buy dips in secular growth rather than de‑risk outright. Flows favored AI, data‑center, and space‑related stories, while more traditional defensives and some financials saw relatively muted interest. Volatility gauges stayed contained despite the heavy macro calendar and brisk deal flow, suggesting that, for now, the market’s center of gravity remains firmly anchored in the AI and innovation complex even as all three benchmarks move higher together.
VP Watchlist Updates
Below is an update‑style snapshot on the VP Watchlist names for the week, focused on recent catalysts, positioning, and narrative rather than precise price moves.
Amwell® (NYSE: AMWL, $7.78, +.65%)
Amwell® (NYSE: AMWL), a leading provider of a comprehensive SaaS-based technology-
enabled healthcare platform, announced (May 5) financial results for the first quarter ended Mar. 31, 2026.
“Entering 2026, Amwell’s main focus was to consolidate our platform to fulfill the unmet needs of our Payer and Provider customers. The Technology-Enabled Care infrastructure we have developed to fill that gap in the market continues to gain traction as customers recognize its clear advantages: lower costs, better outcomes, stronger market share and an increased level of control and agility. Our platform is performing well and built to leverage the latest AI-powered innovations, positioning it as essential infrastructure for tech-enabled care delivery,” said Dr. Ido Schoenberg, Chairman and CEO of Amwell. “We are seeing powerful validation of the platform with significant pipeline growth and a number of meaningful renewals. With this momentum and the favorable regulatory tailwinds, Amwell is well-positioned for continued strong execution this year and to reach our goal of positive cash flow from operations in the fourth quarter.”
FMC Corporation (NYSE: FMC, $13.56, +6.52%)
FMC Corporation (NYSE:FMC) reported (April 29) first quarter 2026 results above guidance with Adjusted EBITDA above high end of range, reaffirms full-year outlook. Their first quarter 2026 revenue of $759 million, down 4 percent versus first quarter 2025. First quarter 2026 revenue, excluding India, was $762 million, down 4 percent versus first quarter 2025, which included India. On a GAAP basis, the company reported a loss of $2.25 per diluted share in the first quarter, a decrease of $2.13 versus first quarter 2025. First quarter adjusted loss per diluted share of $0.23 was down 41 cents versus first quarter 2025. FMC Corporation also announced today that its board of directors declared a regular quarterly dividend of 8 cents per share, payable on July 16, 2026, to shareholders of record as of the close of business on June 30, 2026.
Eupraxia Pharmaceuticals (EPRX, $7.16)
Eupraxia Pharmaceuticals Inc. (EPRX), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology designed to optimize local, controlled drug delivery for applications with significant unmet need, announced (May 5) the first Eosinophilic Esophagitis Endoscopic Reference Score (EREFS) data from its ongoing Phase 1b/2a part of the RESOLVE trial evaluating EP-104GI for the treatment of eosinophilic esophagitis (“EoE”). These data were also presented at the ongoing Digestive Disease Week (“DDW”) conference in Chicago. “The EREFS is an important, validated visual index of severity of EoE disease in the esophagus of patients. It measures edema, rings and strictures and other visible markers of disease often associated with symptoms. Today’s data demonstrated improvement in two key outcomes with EP-104GI in the treatment of EoE: first, that a full injection protocol of 20 injections resulted in more pronounced improvement than a protocol with fewer injections and less coverage area within the esophagus; second, with the higher number of injections, a consistent response in both the inflammatory and fibrotic sub scores of EREFS was observed,” said Dr. James A. Helliwell, Chief Executive Officer of Eupraxia. “This EREFS data being reported at DDW is consistent with the improvements we have seen in EoE symptoms and tissue health (EoEHSS) and suggests improvement in inflammation, fibrosis and the associated narrowing of the esophagus.”
Eurpraxia announced on Friday, May 1, the appointment of Dr. Jeymi Tambiah as Chief Medical Officer (CMO) as well as the retirement of Dr. Mark Kowalski, Eupraxia’s current CMO. Dr. Jeymi Tambiah (MB ChB, FRCS, MS, FAPCR, FFPM), is a Board Certified Cardiothoracic Surgeon physician scientist who practiced at Guys and St Thomas’ Hospitals prior to entering the biopharmaceutical industry in 2008. Dr. Tambiah brings over 18 years of experience in clinical development, medical and regulatory strategy, and product commercialization across pharmaceutical and biotechnology organizations.
Eupraxia recently co-hosted a Tribe Public www.TribePublic.com, CEO Presentation & Q&A Webinar event, Wednesday, April 1 titled “Turning EOE Into a Once-a-Year Appointment.” The event featured James A. Helliwell, M.D., Co‑founder and CEO of Eupraxia Pharmaceuticals (NASDAQ: EPRX), who discusses the company’s precision drug‑delivery platform, its approach to Eosinophilic Esophagitis (EoE), and broader pipeline priorities, followed by a focused 5–10 minute Q&A. You may watch it now at this Youtube link.
Modular Medical (MODD, $3.46, +4.85%)
- Modular Medical, Inc. (NASDAQ:MODD), a leader in innovative, patient-centric insulin delivery, saw (May 1) CEO Jeb Besser join Tribe Public’s members to unpack a simple question with big implications: what happens when an “almost‑pumper” market finally meets an FDA‑cleared device built for the rest of us, not just the superusers? Tribe Public hosted its CEO Presentation and Q&A Webinar, “From FDA Wins to Scaling Manufacturing – What Investors Should Watch,” on Friday, May 1, 2026, at 8:00 a.m. PT / 11:00 a.m. ET. In keeping with Tribe’s reputation for efficient programming, the session ran approximately 30 minutes, pairing a focused prepared talk with a 5–10 minute live Q&A segment that allowed investors to drill into timelines, capital needs, and commercial strategy. Besser’s formal remarks were framed under the title “From FDA Wins to Scaling Manufacturing – What Investors Should Watch,” setting the tone for a discussion that sat at the intersection of regulation, innovation, and recurring‑revenue hardware. By registering, attendees also joined Tribe Public’s membership base, ensuring they will receive future invitations to CEO briefings, sector spotlights, and investor wish‑list events.
- Modular Medical announced (APRIL 19) the pricing of a registered direct offering consisting of 750,000 shares of the Company’s common stock at an offering price of $4.50 per share. The gross proceeds to the Company from the Offering are estimated to be approximately $3.4 million before deducting placement agent fees and other offering expenses. The Offering is expected to close on or about April 21, 2026, subject to the satisfaction of customary closing conditions.
- Modular Medical’s latest regulatory milestone upgrades the narrative: the company has now (April 9) secured FDA 510(k) clearance for its Pivot tubeless insulin patch pump, moving from “launch‑ready” to “launch‑approved” in the heart of the fast‑growing diabesity market. The FDA has cleared Modular Medical’s Pivot patch pump as a tubeless, removable insulin delivery system, formally validating the device’s design and performance for commercial use in U.S. adults living with diabetes. The clearance converts what had been a Q1 2026 launch “subject to FDA response” into a tangible commercial pathway, giving the company permission to sell into an insulin pump market that has been estimated at roughly 8 billion dollars globally. Pivot is engineered as a simplified, two‑part patch pump with a 3‑milliliter removable reservoir, no need for battery recharging, and the ability to bolus without a dedicated controller, aiming squarely at patients who have stayed on multiple daily injections because traditional pumps felt too complex, cumbersome, or costly. By clearing Pivot, the FDA is effectively endorsing Modular Medical’s attempt to make advanced insulin delivery feel less like adopting a gadget and more like upgrading a daily habit.
The InterGroup Corporation (INTG, $38.37)
- InterGroup Corporation delivered (Feb. 17) a notably stronger quarter, highlighted by a 20% jump in total revenue to $17.3 million and a 27% surge in hotel revenue as renovated rooms returned to service and travel demand improved. The company swung from a prior-year net loss to $1.0 million in net income, with operating income more than doubling to $2.0 million, underscoring better cost control and improved operating efficiency. Management further enhanced liquidity and sharpened strategic focus by selling a non-core 12‑unit Los Angeles multifamily property, generating a meaningful gain and additional working capital while maintaining stable performance across its real estate portfolio.
Volato Group, Inc. (SOAR) & M2i Global, Inc. (MTWO, +4.17%)
- Volato Group, Inc. (NYSE American: SOAR) today announced voting results indicate that the shareholders have approved the previously announced merger with M2i Global, Inc. (“M2i Global”)(OTCQB: MTWO) with 99% of the shares of common stock present or represented by valid proxy at the special meeting voting in favor of the merger. This marks a significant milestone toward closing the transaction and advancing Volato’s strategic expansion into the critical minerals sector. The number of shares of common stock present or represented by valid proxy at the special meeting was 15.1 million, representing approximately 40% of the total number of shares of common stock entitled to vote. Management believes that the approval reflects strong shareholder alignment with the Company’s strategic direction and long-term growth plans.
Nokia (NOK, $14.46)
- Nokia is quietly turning the humble home router into a mini network strategist, and Wall Street is starting to notice. NVIDIA’s billion‑dollar bet on the Finnish vendor in 2025 only sharpened that narrative, tying living‑room Wi‑Fi to the coming 6G, AI‑native era. Nokia has rolled out “agentic AI” for home and broadband networks, aiming to move consumer connectivity from reactive trouble‑ticket handling to proactive, autonomous optimization. Instead of waiting for a frustrated customer to reboot the router, Nokia’s software layer watches traffic patterns, anticipates congestion, and adjusts in real time to keep streaming, gaming, and video calls on track. The company describes agentic AI as a paradigm where AI systems set and pursue goals with limited or no human intervention, making decisions continuously rather than executing one‑off predictions. In practice, that means fleets of micro‑agents embedded in broadband platforms like Corteca and other access software, each tasked with jobs such as fault isolation, congestion management, or quality‑of‑experience tuning.
NVIDIA (NVDA, $235.74, +4.39%)
NVIDIA CEO Jensen Huang is working through significant regulatory headwinds by joining President Trump’s delegation to China in an effort to repair trade ties after a dramatic collapse in the company’s China revenue, which previously made up a substantial portion of its data center business. Although the U.S. authorized H200 chip sales to 10 Chinese companies in late 2025, demand has remained soft as Chinese buyers have been reluctant to commit.
NVIDIA will host a conference call on Wednesday, May 20, at 2 p.m. PT (5 p.m. ET) to discuss its financial results for the first quarter of fiscal year 2027, which ended April 26, 2026. The call will be webcast live (in listen-only mode) oninvestor.nvidia.com.
McDonald’s (MCD, $274.97)
- Morgan Stanley (April 21) has adjusted its price target on McDonald’s (MCD) to $334, maintaining an Equal Weight stance on the stock. The firm’s analyst highlighted consumer strength heading into first-quarter results, noting that earnings quality will likely vary across the restaurant and food distribution landscape . While some operators may face headwinds, the underlying consumer backdrop remains robust, which could support McDonald’s performance as one of the industry’s quality players positioned to navigate the current environment .
Tesla (TSLA, $443.30)
Tesla’s latest reveal reads a bit like a family group chat gone public—over $500 million in revenue tied to Elon Musk’s own empire, because apparently vertical integration now includes your boss’s other companies. Meanwhile, the solar business is having a cloudy moment, robotics competition is heating up, and just to keep things interesting, Tesla snagged a jaw-dropping 370 Semi order. Oh, and in case that wasn’t enough, there’s talk of a casual $119 billion chip manufacturing push—because why not add semiconductors to the to-do list?
Serina Therapeutics (NYSE: SER, $1.72, +10.26%)
Serina Therapeutics, Inc. (“Serina” or the “Company”) (NYSE American: SER), a clinical-stage biotechnology company developing its proprietary POZ Platform™ drug optimization technology, reported (May 14) its financial results for the first quarter ended March 31, 2026, along with key business updates. The company highlighted the follow: Phase 1b Registrational Clinical Study of SER-252 Underway in Advanced Parkinson’s Disease; TFL data from the SAD study arm targeted for first half of 2027 & Closed $21.2 million private placement financing to support continued advancement of SER-252. “With our Phase 1b registrational study of SER-252 now underway and a strengthened balance sheet, Serina is entering an important execution phase as we work toward our first clinical data in patients with advanced Parkinson’s disease,” said Steve Ledger, Chief Executive Officer of Serina. “SER-252 represents the first clinical validation of our POZ Platform™, which is designed to optimize well-understood therapeutics by improving pharmacokinetics, tolerability and dosing profiles. We believe this approach has the potential to unlock meaningful value across multiple modalities, and we are building a pipeline and partnership strategy to fully leverage the breadth of the platform.”
Intel (INTC, $115.93)
Intel’s latest rally is more than just another chip stock pop; it’s the market’s way of voting “yes” on a reshuffled AI and manufacturing order in which Intel (INTC), Apple (AAPL), and Nvidia (NVDA) are quietly rehearsing for a new ensemble performance. Beneath the headlines about exploratory talks and record highs is a deeper story about supply chains, national strategy, and a former laggard that suddenly finds itself back on center stage.
Everspin (MRAM, $40.63)
Chandler, AZ’s Everspin’s (MRAM) new $40 million defense pact reads less like a routine semiconductor contract and more like a carefully scripted act in Washington’s ongoing bid to onshore critical tech—with an Arizona memory specialist unexpectedly cast in a leading role.
BuzzFeed, Inc. (BZFD, $1.33, +1.53%)
BuzzFeed, Inc. (NASDAQ: BZFD) has entered into a transaction agreement with Allen Family Digital, LLC, an affiliate of Byron Allen’s family office, that would see Allen invest $120 million for a majority stake in the once high-flying digital media pioneer. Under the deal, Allen’s vehicle will purchase 40 million shares at $3.00 apiece, giving it roughly 52% of BuzzFeed’s outstanding shares when the transaction closes.
Ouster, Inc. (OUST, $34.86, +2.02%)
Ouster, Inc. (Nasdaq: OUST), a leader in sensing and perception for Physical AI, announced (May 13) its new Rev8 OS family of digital lidar sensors are qualified to run on the NVIDIA DRIVE Hyperion platform for accelerating development and deployment of level 4 autonomous vehicles.
The Sources
- Yahoo Finance – Stock market today: Dow retakes 50,000 level, S&P 500 and Nasdaq surge to fresh records as AI trade roars back
https://finance.yahoo.com/news/live/stock-market-today-dow-retakes-50000-level-sp-500-and-nasdaq-surge-to-fresh-records-as-ai-trade-roars-back-223230929.htmlwsj - CNBC – Dow jumps to recapture 50,000; S&P 500 posts first close above 7,500: Live updates (May 13, 2026)
https://www.cnbc.com/2026/05/13/stock-market-today-live-updates.htmlcnbc - Investopedia – Markets News, May 14, 2026: Cisco Leads Tech Charge as S&P 500, Nasdaq Close at Record Highs; Dow Ends Above 50000 for 1st Time Since February
https://www.investopedia.com/stock-market-today-dow-jones-s-and-p-500-05142026-11974563investopedia - Bloomberg – Stock Market Today: Dow, S&P Live Updates for May 14
https://www.bloomberg.com/news/articles/2026-05-13/asian-stocks-to-climb-as-wall-street-hits-new-high-markets-wrapbloomberg - FullyInformed – Stock Market Outlook For Thu May 14 2026
https://www.fullyinformed.com/stock-market-outlook-for-thu-may-14-2026-higher-open-thanks-to-cisco-earnings-but-lower-close/fullyinformed - YouTube – May 14, 2026 | S&P 500, Nasdaq, Dow, Treasury Yields
https://www.youtube.com/watch?v=XloMLOzmI2gyoutube - Yahoo Finance – Cerebras stages blockbuster IPO amid AI frenzy, Musk v. OpenAI…
https://finance.yahoo.com/sectors/technology/live/tech-stocks-today-cerebras-stages-blockbuster-ipo-amid-ai-frenzy-musk-v-openai-…finance.yahoo - Business Insider – Cerebras’ 109% day-one rally kicks off a year of AI…
https://www.businessinsider.com/cerebras-stock-ipo-ai-chips-nvidia-cbrs-openai-anthropic-tech-2026-5businessinsider - CNBC – SpaceX IPO prospectus could land as soon as next week, sources say
https://www.cnbc.com/2026/05/14/spacex-ipo-prospectus-could-land-as-soon-as-next-week-sources-say.htmlcnbc - X (Twitter) – “SPACEX HAS RELEASED ITS IPO PROSPECTUS”
https://x.com/WOLF_Financial/status/2046571792915910813x - CNBC – U.S. clears H200 chip sales to 10 China firms as Nvidia CEO looks for breakthrough
https://www.cnbc.com/2026/05/14/us-clears-h200-chip-sales-to-10-china-firms-as-nvidia-ceo-looks-for-breakthrough.htmlcnbc - Euronews – Musk and Cook join Trump on China visit to talk trade and AI
https://www.euronews.com/business/2026/05/13/trump-china-visit-us-ceos-musk-cook-and-nvidias-huang-join-trade-talkseuronews - Yahoo Finance – Nvidia’s $5.4 Trillion Moment Hides a Much Bigger Story…
https://finance.yahoo.com/news/nvidias-5-4-trillion-moment-131120825.htmlfinance.yahoo - CryptoBriefing – Nvidia market cap hits $5.4T despite zero China revenue…
https://cryptobriefing.com/nvidia-market-cap-hits-54t-despite-zero-china-revenue-amid-us-export-controls/cryptobriefing - Investing.com – Nvidia restarts China AI chip manufacturing as CEO forecasts $1 trillion in orders
https://www.investing.com/news/stock-market-news/nvidia-restarts-china-ai-chip-manufacturing-as-ceo-forecasts-1-trillion-in-orders-…investing
