Your Evening Briefing

May 14, 2026

Tech powers stocks to another record close

The S&P 500 and Nasdaq 100 closed at record highs for the second day in a row, powered by gains in tech. The Russell 2000 also gained.

Information technology was today’s best performer, followed by energy as oil prices edged higher. Materials was the worst-performing sector.

Stocks that moved higher:

Cerebras Systems delivered a monster IPO pop as traders clamored for fresh AI investment opportunities, making it the biggest debut of 2026 so far.
Nvidia rose on a report that the US has cleared H200 chip sales to China, with Foxconn's profit beat adding to the optimism.
Ondas skyrocketed after Q1 revenue beat estimates and management raised guidance.
POET Technologies surged after announcing a $50M purchase order to launch a partnership for new AI infrastructure.
Cisco surged after reporting strong Q3 earnings and even better Q4 projections after the bell yesterday.
Cisco's strong results lifted networking peer Marvell Technology, which also received price target hikes from Bank of America and Goldman Sachs analysts.
Ford added to yesterday’s gains on continued optimism around Ford Energy, the company’s new energy business.
Klarna surged on $1B in Q1 revenue and strong user growth.
Take-Two Interactive climbed on rumors that GTA 6 pre-order dates were leaked by a Best Buy email.
Allegiant rose after completing its merger with Sun Country.
Versant Media climbed as Q1 earnings and sales beat expectations.
Fermi, a Texas-based energy and AI infrastructure company, jumped as management touted increased interest in its data center project.

Stocks that moved lower:

Boeing dipped after Trump told Fox News China will order 200 jets, well below the 500-plane rumors from earlier this year.
Doximity plunged after it reported quarterly results that missed Wall Street expectations and gave a disappointing full-year outlook as high AI costs weigh on margins.
Lightwave Logic sank after the company reported increasing shortfalls in its Q1 earnings after the bell yesterday.

Micron has unseated Nvidia and Tesla as the market’s most heavily traded stock

More than $46 billion in Micron shares has changed hands every day on average in the red-hot memory stock over the last five sessions. Read more.

AI hallucinations appear to be creeping into consulting reports

AI-detection firm GPTZero says a recent report from consultancy EY looks circumspect, joining other big firms with likely hallucinations.

Read more.

Yesterday was “the best day of my life” for anonymous X user “Cprkrn” who said Claude helped him recover five bitcoin stuck for 11 years in a Blockchain.com wallet, encrypted with a forgotten second password. He bought five bitcoin for about “between $200 and $300,” and it’s now worth roughly $400,000. We talked to him.

Bloomberg: Relationship between OpenAI and Apple has deteriorated and legal action may be imminent
OpenAI had been expecting billions of dollars per year from subscriptions from the Apple tie-up — something that’s failed to materialize.
Netflix is staffing up an apparent AI animation studio called Inkubator
Netflix appears to be moving into GenAI animation.
Report: Mythos is used to crack MacOS
Researchers using the preview release of Anthropic’s Mythos were able to seize control of a Mac. Apple’s operating system is notoriously difficult-to-crack.
Crypto IPOs hit pause as “appetite has been sold to AI”
Ethereum development firm Consensys and security hardware company Ledger have joined crypto exchange Kraken in pausing their plans to conduct an initial public offering.
Survey: 70% of Americans don’t want data centers in their community
According to the survey, more Americans would rather live next to a nuclear power plant than a data center, and the distaste is bipartisan.
Pension leaders overseeing more than $1 trillion in assets call SpaceX’s corporate structure “extreme”
Pension officials from New York and California have requested a meeting with Elon Musk to discuss their concerns.
US national average gas price rises after a short-lived dip, hitting $4.53
Despite experiencing a brief dip, gas prices continue to rise as Memorial Day approaches

Was this email forwarded to you? Don’t miss out on future stories — subscribe to The Wrap and get your daily dose of financial news straight to your inbox.

Craving more insights in your inbox? Subscribe to Chartr and Snacks for quality reads.

We care what you think! If you have any feedback or comments, feel free to reply and let us know your thoughts!

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more

SHERWOOD MEDIA, LLC, 85 Willow Road, Menlo Park, CA 94025