# The S&P 500 Index ($SPX) (SPY) on Wednesday closed up +0.58%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.

*business · news · 2026-05-13 · Barchart*

## Key points

- US April PPI rose 6.0% y/y, the largest jump in 3.25 years, signaling inflation resurgence.
- Nvidia, Tesla, and Apple rallied after their CEOs joined President Trump on a China summit trip.
- IEA warns global oil market will remain 'severely undersupplied' until October despite Strait of Hormuz disruption.
- Goldman Sachs estimates global crude stockpiles may drop by up to 1 billion barrels by June.
- Ford surged 13% after Morgan Stanley suggested imminent energy storage deals with large commercial customers.

**Companies:** Apple, Tesla, Nvidia, Alphabet, Amazon.com, Ford Motor, American Electric Power, ON Semiconductor, Marvell Technology, ARM Holdings Plc, Micron Technology, Analog Devices, Texas Instruments, ASML Holding NV, KLA Corp, Lam Research, Corcept Therapeutics, Sensata Technologies Holding Plc, Akamai Technologies, Hewlett Packard Enterprise
**Countries:** United States, China

[Read the full story on Barchart](https://www.barchart.com/story/news/1914958/s-p-500-and-nasdaq-100-post-new-record-highs-on-chip-stock-strength)

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