Pre-market briefing Pre-Market Briefing for May 15, 2026
Today at a Glance
Previous Day Recap
Yesterday was a historic session on Wall Street. The Dow closed +0.75% to finish above the 50,000 mark for the first time ever, the S&P 500 rose +0.77% to 7,501.24 — its first close above 7,500 — and the Nasdaq added +0.88% to 26,635, a fresh record high. The entire AI infrastructure stack rallied together, led by $CSCO +13.4%, $AVGO +5.5%, $ANET +5.1%, and $NVDA +4.4%. After the close, $AMAT reported revenue of $7.91B (above the $7.69B consensus) and EPS of $2.86 (above the $2.68 consensus), then raised its wafer fab equipment industry growth guidance to over 30%, sending shares up 8% in extended trading. On the downside, $QCOM fell -6.1% on a guidance miss plus a JPM downgrade, and $BA dropped -4.7% amid a lack of substantive agreement from the Trump-Xi meeting.
Current Market Tone
Futures have flipped decisively into profit-taking mode. Nasdaq futures are -1.4%, S&P 500 futures -1.0%, and Dow futures -0.7% — all lower in unison. The 10-year yield pushed higher following the hot CPI (3.8%) and PPI readings, with Asian markets selling off hard as well (KOSPI -6%, Japan's Nikkei -2%), and that weakness is being directly reflected in US futures. Today also brings the convergence of monthly OpEx expiration and the formal inauguration of Kevin Warsh as the new Fed Chair, so the market faces the simultaneous stimulus of routine options-driven volatility and policy-regime transition uncertainty.
Pre-Market News Roundup
Today's Events
The big-name earnings season effectively wrapped up with $AMAT yesterday, and today is a closing Friday dominated by small- and mid-cap names.
Macro Calendar
There is only one macro release on today's calendar, but the more important point is that its timing coincides with the formal inauguration of Chair Warsh.
Our site DB consensus is blank (market consensus is approximately 4.10 million annualized units). With mortgage rates back up as expectations for rate cuts have faded, a soft housing-activity print could put additional pressure on rate-sensitive utilities and REITs. More than the data itself, the bigger market mover today will be Warsh's first remarks or any personnel-related signals.
Ex-Dividend
Names in Focus
Today, stocks sitting on the periphery of yesterday's record-setting rally are emerging as short-term shorting candidates.
Action Plan for Today
Stay patient once again today. Let OpEx volatility wash over you and focus on reading the tape.
Back to ListDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
Today's 5 AI picks, all free