NextFin News - May 13, 2026, 7:00 a.m. ET
1) Pre-Market Performance
U.S. equity futures were mixed ahead of the open. Nasdaq 100 futures outperformed, rising to 29,373.0, up 203.0 points or 0.70%. S&P 500 futures traded at 7,441.8, up 15.3 points or 0.21%. Dow Jones futures lagged, slipping to 49,729.0, down 140.0 points or 0.28%.
European markets were also mixed in early trade. Germany’s DAX led the region, up 223.82 points or 0.93% to 24,178.75. The UK’s FTSE 100 added 16.03 points or 0.16% to 10,281.35, while France’s CAC 40 fell 22.94 points or 0.29% to 7,956.98.
Cross-asset trading continued to reflect an inflation-and-geopolitics backdrop. U.S. crude was around $102.10 a barrel on Tuesday, with broader energy markets staying elevated, while gold traded near $4,686 an ounce after a modest pullback. The U.S. dollar remained firm in safe-haven trading, with the dollar index holding near the 100 area. Elevated oil and a resilient dollar are keeping pressure on rate-sensitive segments of the market.
2) Macroeconomic Policy and Data
The main macro catalyst was Tuesday’s April CPI report. Headline CPI rose 0.6% month over month, below March’s 0.9% increase but above the 0.5% consensus. On a year-over-year basis, CPI accelerated to 3.8% from 3.3% in March. Core CPI rose 0.4% month over month, above the prior 0.2% pace, while annual core CPI increased to 2.8% from 2.6%. Energy remained a major driver, with the energy index up 17.9% from a year earlier.
The inflation print leaves markets facing a more complicated policy path. At its April 29, 2026 meeting, the Federal Reserve kept the federal funds target range unchanged at 3.50% to 3.75% and said inflation remained elevated partly because of higher global energy prices. The statement also highlighted that Middle East developments were contributing to unusually high uncertainty and that the Committee would carefully assess incoming data before making further adjustments.
Wednesday’s focus now shifts to producer inflation. The U.S. economic calendar points to the April PPI release at 8:30 a.m. ET, which will be watched for evidence of whether upstream price pressure is reinforcing the hotter CPI signal. After the CPI surprise, another firm inflation reading would likely support higher Treasury yields, a stronger dollar, and continued rotation toward energy, defense, and selective AI-linked cyclicals, while pressuring long-duration growth and rate-sensitive consumer groups.
3) Hot News
- Inflation Reaccelerates: April CPI showed inflation reaccelerating to 3.8% year over year, with core CPI also firming, reducing confidence in a near-term rate cut and keeping macro volatility elevated.
- Oil Keeps Macro Pressure High: Crude prices remain above the $100 level, sustaining concerns about energy-led inflation and feeding into inflation expectations.
- Europe Mixed as Investors Weigh Global Growth: Germany’s DAX outperformed while France lagged, reflecting a selective risk tone rather than a broad-based rally.
- AI Infrastructure Buildout Remains a Leadership Theme: Announcements across semiconductors, optical connectivity, and cloud infrastructure continue to reinforce capital spending momentum tied to AI data-center expansion.
4) U.S. Stock Focus
-
NVIDIA — Expands U.S. AI infrastructure supply chain NVIDIA and Corning announced a multiyear partnership to expand U.S.-based optical connectivity manufacturing for AI infrastructure. Corning said it will increase optical connectivity capacity 10x, build three new plants in North Carolina and Texas, and create more than 3,000 jobs, underscoring how AI capex is spreading deeper into the industrial supply chain. Link
-
Corning — Raises growth ambitions as AI demand accelerates Corning upgraded and extended its Springboard plan through 2030 and highlighted stronger growth tied to photonics and enterprise networks. Management said the new NVIDIA partnership strengthens its position in the AI data-center buildout, following first-quarter core sales growth of 18% and 36% growth in Optical Communications. Link
-
AMD — Delivers strong Q1 as AI infrastructure demand lifts data center AMD reported first-quarter 2026 revenue of $10.3 billion, net income of $1.4 billion, and diluted EPS of $0.84. CEO Lisa Su said demand for AI infrastructure is accelerating and that Data Center has become the primary driver of the company’s revenue and earnings growth. Link
-
Snap — Revenue growth improves and profitability strengthens Snap reported first-quarter revenue of $1.529 billion, up 12% year over year, with adjusted EBITDA of $233 million and net loss narrowing to $89 million. Management said user growth returned and highlighted continued investment in Specs and intelligent eyewear. Link
-
CVS Health — Strong quarter and raised full-year outlook CVS Health reported first-quarter revenue of $100.4 billion, up 6.2% year over year, with GAAP EPS of $2.30 and adjusted EPS of $2.57. The company raised full-year 2026 guidance, including adjusted EPS to $7.30-$7.50 from $7.00-$7.20 previously. Link
-
Uber — Posts record operating income and strong bookings growth Uber reported first-quarter gross bookings of $53.7 billion, revenue of $13.2 billion, and record GAAP operating income of $1.9 billion. Trips rose 20% year over year, and management said the company reached 50 million Uber One members. Link
-
Marvell Technology — Deepens AI partnership with NVIDIA Marvell and NVIDIA announced a strategic partnership through NVLink Fusion, aimed at connecting Marvell’s custom silicon and optical technologies to NVIDIA’s AI infrastructure ecosystem. NVIDIA also invested $2 billion in Marvell. Link
-
Hertz — Expands autonomous and fleet partnership with Uber Hertz’s affiliate Oro Mobility and Uber announced two strategic fleet partnerships aimed at supporting autonomous robotaxi and driver-led fleet operations, broadening Hertz’s exposure to next-generation mobility services. Link
Overall, the pre-market setup is defined by a split tape: AI and platform growth leaders are underpinning Nasdaq futures, while hotter inflation, firm oil, and a still-restrictive Fed stance are capping broader risk appetite. The key swing factor for the next leg in sentiment is whether today’s PPI data confirms that price pressures are broadening beyond energy.
Explore more exclusive insights at nextfin.ai.
