News Bulletin
Wednesday, May 13, 2026
Evening Edition
Economic Numbers:
|
Time |
Event |
Actual |
Forecast |
Previous |
|
Wednesday, May 13, 2026 |
||||
|
8:30 |
PPI (MoM) (Apr) |
1.40% |
0.50% |
0.70% |
|
8:30 |
Core PPI (MoM)
(Apr) |
1.00% |
0.30% |
0.20% |
|
10:30 |
Crude Oil Inventories |
-4.306M |
-2.000M |
-2.313M |
|
10:30 |
Cushing Crude Oil Inventories |
-1.702M |
|
-0.648M |
|
13:00 |
30-Year Bond Auction |
5.05% |
|
4.88% |
Indices
|
|
CLOSE |
50 DMA |
200 DMA |
|
DJIA |
49,693.20 |
47,931.78 |
47,405.47 |
|
NASDAQ |
26,402.34 |
23,420.40 |
22,904.27 |
|
S&P 500 |
7,444.25 |
6,891.39 |
6,770.10 |
Earnings Calendar:
(EPS: Earning Per Share / Rev: Revenue / Mkt Cap: market Capital/ BMO: Before Market Opening /AMC:
After Market Close)
|
COMPANY |
EPS Act |
EPS
Fore |
Rev
Act |
Rev
Fore |
Mkt Cap |
Time |
|
Cisco Systems CSCO:US |
1.06 |
1.03 |
15.8B |
15.19B |
$399.19B |
PM |
|
Masimo MASI:US |
|
1.43 |
|
398.65M |
$9.44B |
AM |
|
Chart Industries GTLS:US |
|
2.47 |
|
1.12B |
$8.76B |
AM |
|
Aimco AIV:US |
|
|
|
|
$7.91B |
PM |
|
Vishay Intertechnology VSH:US |
0.05 |
0.04 |
839.2M |
811.93M |
$4.62B |
AM |
|
Hawkins HWKN:US |
|
0.77 |
|
257.45M |
$3.55B |
PM |
|
Prestige Brands PBH:US |
|
1.39 |
|
296.53M |
$2.53B |
PM |
|
HUB HUBG:US |
|
0.39 |
|
885.76M |
$2.37B |
PM |
|
Veris Residential CLI:US |
|
|
|
67.94M |
$1.76B |
PM |
|
STAAR Surgical STAA:US |
0.1 |
0.07 |
93.5M |
67.34M |
$1.42B |
PM |
Market News:
U.S. stocks ended mixed on Wednesday,
though sentiment improved considerably through the session after initially
being dampened by hotter-than-expected producer price index (PPI) data a day
after a similar report on consumer prices.
The focus is on President Donald Trump’s
visit to China where he will be meeting with counterpart Xi Jinping.
A spate of chief executive officers from key tech companies,
including Nvidia’s Jensen Huang and Apple’s Tim Cook,
have accompanied the president.
The benchmark S&P 500 index added
0.6% to close at 7,444.04 points, while the tech-heavy NASDAQ Composite climbed
1.2% to settle at 26,402.34 points. Both gauges finished at record levels on
the back of technology stocks amid optimism over Trump’s trip.
The Dow Jones Industrial Average bucked
the trend, slipping 0.1% to conclude at 49,693.20 points. The blue-chip gauge
was weighed down by components Salesforce and Home
Depot.
"The major U.S. equity indices are
rallying amid negative breadth. The notably hotter than forecast PPI report has
prompted investors to rotate into the safety of ultra-megacaps,"
Michael O’Rourke, chief market strategist at Jones Trading, told Investing.com.
"The JT20 index comprised of 20 megacaps representing 50% of the S&P 500 market
capitalization is up 1.5% today. Google, Nvidia,
Apple, and Tesla account for 100% of the S&P 500 gain today," he said,
referring to a concentrated benchmark index developed by Jones Trading.
"Financials, utilities, and small
caps - all sectors that typically underperform in a rising rate environment -
are leading the decline today. The 10-year Treasury yield is testing the 4.5%
level following the unsettling PPI report,"
Trump’s high-stakes China visit; oil
falters
While key U.S. producer inflation data
grabbed the spotlight in the morning, traders had turned their attention to
China, where Trump landed to a red carpet greeting. The president will
participate in an official state arrival ceremony on Thursday, after which he
will meet with Xi and sit for multiple interviews.
The two leaders are anticipated to
discuss a range of topics, including trade and Taiwan. Trump has said that he
will press Xi to "open up" China to U.S. businesses.
But it may be the ongoing fight between
the U.S. and Iran that will likely receive much of the attention. Analysts have
suggested that China, as a major importer of Iranian crude, could be persuaded
to act as a guarantor of a lasting peace deal, although some observers have
ramped down expectations that such a breakthrough could come from the
gathering.
Diplomatic efforts to forge an agreement
between Washington and Tehran appear to have stalled. Earlier this week, Trump
dismissed an Iranian response to an American peace proposal, describing it as
“unacceptable” and a “piece of garbage.” Reports have also swirled around
whether the White House will resume strikes against Iran.
Tehran, for its part, has not indicated
that it has further plans to appease Trump.
Crucially, the stalemate means the Strait
of Hormuz, a vital waterway off of Iran’s southern coast through which roughly
a fifth of the world’s oil transits, is effectively shuttered, as it has been
for weeks.
As a result, oil prices are floating
well above pre-war levels of roughly $70 a barrel. Brent crude futures, the
global oil benchmark, were last down 1.8% to $105.87 a barrel.
U.S. producer prices see largest monthly
increase since March 2022
Turning to the economic calendar,
inflation has been a key theme of the week, with market participants receiving
April PPI data on Wednesday following the consumer price index (CPI) report the
previous day.
According to the Bureau of Labor Statistics, U.S. headline PPI in April ticked up 1.4%
M/M, the largest monthly advance since March 2022. On a Y/Y basis, headline PPI
jumped 6%, the biggest since December 2022. Analysts and economists had
predicted a climb of 0.5% M/M and 4.9% Y/Y.
The PPI data follows a similarly hot CPI
print on Tuesday, which showed a big impact of surging oil prices due to the
Middle East conflict. The PPI readings hinted that the spike in oil was raising
production costs as well.
"Wednesday’s PPI was strikingly
elevated as producers are feeling the ripple effects of $100 per barrel oil,
which is raising the cost of production across the board, as energy is arguably
the most critical input cost," Clark Bellin,
president and chief investment officer at Bellwether Wealth, said.
"The Federal Reserve has an
inflation problem on its hands at a time when the labor
market has slowed down, and that makes its job much more difficult, especially
as the central bank is set to welcome a new Chair in the very near-term," Bellin added, referring to Kevin Warsh,
President Donald Trump’s pick to take over as Fed chair from Jerome Powell,
whose term is due to end on Friday.
Speaking of Warsh,
the U.S. Senate confirmed him as chair on Wednesday in a 54-45 vote, one day
after confirming his appointment to the Fed’s Board of Governors in a 51-45
vote. Warsh’s confirmation comes at a time when Trump
has repeatedly badgered policymakers to slash interest rates to help lift
economic activity.
With U.S. inflation clearly being
affected by the oil shock emanating from the Iran war, the Fed is likely to
keep interest rates on hold. Traders have even increased their expectations of
potential rate hikes later this year.
It is worth noting that both CPI and PPI
together feed into the Fed’s preferred inflation gauge - the core personal
consumption expenditures (PCE) price index, also known as the core PCE
deflator. Analysts noted that the PPI components that affect the PCE were
somewhat benign in April.
"The bad PPI headline distracts
from weakness in the components that feed into the core PCE deflator, which we
estimate rose by 0.28%," Samuel Tombs, chief U.S. economist at Pantheon
Macroeconomics, said on X, highlighting a fall in portfolio management fees, a
rise in airline fares that was less than the CPI equivalent, and only a modest
increase in healthcare and insurance components.
"My toy model for CPI+PPI = ~PCE
would hint at a very benign core PCE print for (April). To be honest, I don’t
trust the result this month as it’s too unintuitive. Lot of idiosyncratic stuff
in inflation numbers at the moment," Guy LeBas,
chief fixed income strategist at Janney, said on X.
U.S. Treasury yields, especially on
longer-end maturities, gained after the PPI report, with the benchmark 10-year
yield hitting its highest level since July last year. The instrument was last
little changed at 4.467%. The shorter-end, more rate-sensitive 2-year yield was
down nearly 2 basis points to 3.979%.
Cisco to report
On the earnings calendar, results from
Dow 30 component Cisco will be in focus after the close of U.S. markets.
Notably, the returns from the networking
gear firm will kick off a slew of reports for fiscal quarters ending in April.
An earlier set of numbers for the period finishing in March were strong,
helping support broader stock markets against headwinds from geopolitical
tensions and looming inflation.
In February, Cisco logged adjusted gross
margin which was below expectations, due in part to a sharp jump in the price
of memory chips. A shortage of the supply of these processors, fueled by the rapid build-out of AI infrastructure, has
driven an uptick in cost.
CEO Chuck Robbins noted at the time
that, against this backdrop, Cisco is raising its own prices and updating
contractual terms with its customers.
In individual stocks, U.S.-listed shares
of Alibaba ended more than 8% higher. The Chinese
e-commerce major posted a fall in quarterly adjusted profit, but showed robust
growth in its cloud computing and artificial intelligence business.
For internal use only