Daily Market Report – May 15, 2026

The US stock markets ended Friday with significant losses, halting the recent record rally. The S&P 500 (SP:SPX TradingView) lost 1.2%, the Nasdaq Composite (NASDAQ:IXIC TradingView) fell by 1.5%, and the Russell 2000 (RUSSELL:RUT TradingView) dropped by 2.4%. The markets were weighed down by rising oil prices and a sharp increase in US Treasury yields. The yield on the 10-year US Treasuries US 10 Year Treasury Yield (TVC:US10Y TradingView) approached 4.6%, while the 30-year yield US 30 Year Treasury Yield (TVC:US30Y TradingView) briefly rose above 5.1%. At the same time, US WTI crude oil WTI Crude Oil Futures (NYMEX:CL1! TradingView) increased significantly, intensifying investors' inflation concerns.

Technology and AI stocks were under particularly strong pressure. Investors took profits after the exceptionally strong rally of the past weeks and increasingly questioned the high valuations of many AI companies. Cerebras Systems (NASDAQ:CBRS TradingView) lost double digits after the stock had surged significantly following its IPO on Thursday. NVIDIA Corporation (NASDAQ:NVDA TradingView) remained the dominant topic in the market. Nvidia reports after the market close on Wednesday; revenues of around $78 to $79 billion are expected, along with another exceptionally strong growth in the data center business. The outlook will be crucial: investors want to know whether hyperscalers like Microsoft, Amazon, Meta, and Alphabet will continue to aggressively increase their AI investments and how quickly the new Blackwell systems can be delivered. Due to Nvidia's enormous significance for the entire technology sector, the options markets expect exceptionally high price movements after the numbers are released.

In addition, the focus is increasingly turning to the state of the US consumer. Following weaker retail data and rising gasoline prices, the upcoming figures from major retailers are seen as an important stress test for the US economy. The Home Depot, Inc. (NYSE:HD TradingView) reports on Tuesday; a continued weak demand for larger renovation projects due to high mortgage rates is expected. Target Corporation (NYSE:TGT TradingView) and TJX Companies (NYSE:TJX TradingView) will release their numbers on Wednesday; Target is under special scrutiny due to margin pressure and discount promotions, while TJX is seen as a potential winner in a more cautious consumer environment. Walmart Inc. (NYSE:WMT TradingView) reports on Thursday and is considered the key gauge for the stability of US consumer spending. Investors are particularly attentive to whether Walmart will provide a more cautious outlook for the second half of the year.