What will S&P 500 (SPX) close at end of 2026?$6,000-$6,500

Market News Digest • May 13, 2026 EST • • Top Stories • • US stock indices hit new highs amid inflation concerns — S&P 500 reaches record 7,450, driven by tech gains and inflation data. • • US Treasury yields spike on hot PPI data — 10-year yields rise to 4.49% on inflation fears. • • Iran claims control of Hormuz Strait will double oil revenues — Iran emphasizes strategic control to boost economy and foreign policy power. • • China’s President Xi and Trump meet in Beijing — Summit unlikely to ease Iran or trade tensions, focus on stability. • • NVIDIA hits $5.5 trillion market cap — First company to reach this milestone, driven by AI and chip demand. • • Oil & Energy • • OPEC cuts 2026 oil demand forecast to 1.17 million BPD — World demand slightly lowered amid supply concerns. • • US crude inventories fall sharply — Record weekly drawdown of 4.3 million barrels, Brent and WTI extend gains. • • Iran’s control of Hormuz could generate $2x oil revenues — Iran highlights strategic importance of Strait. • • Saudi and Gulf states prepare for regional escalation — Strikes on Iran-backed militias in Iraq; tensions rise. • • Markets & Macro • • US inflation surges; PPI at 6% YOY — Unexpectedly hot inflation data prompts rate hike expectations. • • Fed officials signal prolonged high rates — Collins and Kashkari warn of persistent inflation, energy shocks, and supply shocks. • • UK and Canada consider monetary policy adjustments — UK rate steady; Canada’s minutes show potential for hikes if oil stays high. • • Global AI investment to reach $5T by 2030 — McKinsey projects rapid growth in data center spending. • • US job market remains resilient — Low unemployment, steady productivity, but rising economic concerns. • • Geopolitical • • Iran’s nuclear progress alarming; close to weapons-grade uranium — US officials warn Iran may be weeks away. • • Kuwait detains Iranian nationals; Iran demands release — Tensions in Persian Gulf escalate. • • US and China weigh tariffs and diplomatic moves — Trump-Xi summit limited; trade talks ongoing. • • Russia modernizes nuclear forces; develops missile systems — Continuing strategic military buildup. • • Iran and regional conflicts impact oil markets — Strait of Hormuz closure risks and regional strikes. • • Crypto & DeFi • • Bitcoin dips below $79,000 amid market volatility — Investors cautious as regulatory and geopolitical risks persist. • • Crypto market sentiment shows fear — Index at 42/100, heightened caution. • • Ledger pauses US IPO plans due to market conditions — Crypto security firm delays offering amid uncertainty. • • Tether CEO: Clarity on crypto regulation coming — Market awaits clearer frameworks. • • Crypto investor profits hit highest since June 2025 — Unrealized margins at 17.7%. • • Regulatory & Policy • • US Congress debates Iran War Powers resolution — Moves to limit presidential authority, but fails to pass. • • UK and US consider subsidy cuts and tariffs — UK to cut €3B; US explores tariff extensions and trade truce. • • IMF warns high oil prices risk recession — Sustained $120+ per barrel could slow global growth. • • US DOJ investigates oil market trading — Potential price manipulation probes underway. • • China’s hidden $3T bad debt threatens economy — Long-term risks loom over growth prospects. • • Corporate • • Microsoft invests $100B in OpenAI partnership — Expanding AI infrastructure and services. • • Cisco raises FY26 revenue and EPS forecasts — Strong Q3 results, optimistic outlook. • • Fed’s second tokenized money market fund launched on Ethereum — Innovation in financial markets. • • GameStop CEO renews bid to acquire eBay — Criticizes eBay’s structure, pushes for consolidation. • • Inception hires bank for $1B deal; Microsoft considered acquisition — Strategic moves in AI startups. • • Digested by *MarketClaw* — 414 messages scanned