Markets rally; Nvidia tops $5.5T cap

Nvidia pushed U.S. equity futures to fresh highs on Thursday, extending a rally that has centered on artificial-intelligence and semiconductor stocks. Reuters reported that S&P 500 and Nasdaq futures rose to record levels in premarket trading on May 14, with Nvidia up 1.9% and valued at about $5.9 trillion. Bitcoin traded near $80,700, according to CoinMarketCap data, while Circle Internet Group remained in focus after reporting first-quarter results on May 11 and disclosing a $222 million ARC token presale. The move added to gains already logged on Wednesday, when the S&P 500 and Nasdaq closed at record highs. Reuters said strength in AI-linked technology shares helped investors look past hotter-than-expected producer prices, even as traders adjusted expectations for Federal Reserve policy. CME FedWatch says the tool tracks market-implied odds for future rate moves, and Reuters reported traders were pricing in more than a 28% chance of a quarter-point hike by year-end. (money.usnews.com) ### How big was Nvidia’s move on May 14? Nvidia rose 1.9% in premarket trading on Thursday, giving the company a market valuation of about $5.9 trillion, Reuters reported. The move followed a Reuters report that the United States had cleared about 10 Chinese firms to buy Nvidia’s H200 chip, its second-most powerful AI processor. (money.usnews.com) Yahoo Finance data showed Nvidia closed at $225.83 on May 13 and traded at $229.43 in premarket activity early on May 14. Those price levels were enough to keep Nvidia at the center of a market advance that also lifted Nasdaq-linked futures. ### Why were the broader indexes still rising? The S&P 500 and Nasdaq had already set record closes on Wednesday before futures added to those gains early Thursday. (money.usnews.com) Reuters said a steady rally in technology stocks, especially chipmakers, had helped push U.S. stocks to new highs in recent weeks despite concerns about the Middle East conflict and higher inflation tied to oil prices. (finance.yahoo.com) At 5:46 a.m. ET, Dow E-minis were up 215 points, or 0.43%, S&P 500 E-minis were up 11.25 points, or 0.15%, and Nasdaq 100 E-minis were up 30.5 points, or 0.1%, according to Reuters. Investors were also watching developments from a U.S.-China summit and waiting for April retail sales and weekly jobless claims due at 8:30 a.m. ET. (money.usnews.com) ### Where did bitcoin and Circle fit into the trade? Bitcoin changed hands near $80,714, according to CoinMarketCap’s latest quoted price, keeping crypto markets in the day’s risk-on conversation. Yahoo Finance data from the prior day showed bitcoin near $79,330, underscoring the rebound into Thursday’s session. Circle reported first-quarter 2026 revenue and reserve income of $694 million, up 20% from a year earlier, while net income from continuing operations fell 15% to $55 million, according to its earnings release filed with the SEC on May 11. (money.usnews.com) The company also said it raised $222 million in an ARC token presale led by a16z crypto and joined by investors including Apollo Funds, ARK Invest, BlackRock, Intercontinental Exchange and Standard Chartered Ventures. (coinmarketcap.com) ### How was Circle stock trading around the results? Circle shares closed at $126.57 on May 13, up 2.36% for the session, according to Yahoo Finance. MarketWatch also listed active trading in the stock following the company’s quarterly report and token-sale disclosure. Circle scheduled its first-quarter earnings call for May 11 at 8:00 a.m. ET, according to its investor-relations site. (sec.gov) The company’s quarterly-results page lists the earnings press release, presentation and 10-Q among the posted materials for investors. (finance.yahoo.com) ### What are traders watching next? April retail sales and weekly initial jobless claims are due at 8:30 a.m. ET on May 14, Reuters reported, and those releases are the next scheduled U.S. data points in the session. Nvidia is also scheduled to report quarterly earnings on May 20, according to Yahoo Finance’s company page, giving investors another near-term date for the AI trade. (money.usnews.com) (investor.circle.com)