Chip Stocks and China

MPC Markets Morning Call · May 15, 2026 · 9m

The S&P 500 surged above 7,500 for the first time on Thursday as Trump hailed “extremely positive and constructive” talks with Xi, the US cleared Nvidia H200 chip sales to 10 Chinese firms, Cisco jumped 13% to a record, and Cerebras soared 68% in the year’s largest IPO. The Dow closed at 50,063 — just 0.3% from its all-time high. China agreed to buy 200 Boeing jets. Retail sales rose 0.5% but were propped up by a 21.2% surge in gasoline station spending. Oil held near $106 Brent. Breadth improved with advancers leading decliners. Applied Materials gave strong guidance after hours.