Your Evening Briefing

May 11, 2026

Stocks eke out new record close even though US-Iran ceasefire is “on life support”

The S&P 500, Nasdaq 100, and Russell 2000 made modest advances, closing at new record highs. Today, President Trump said that the ceasefire with Iran is “on life support” after announcing his rejection of Iran’s counterproposal on Truth Social yesterday.

Energy was the best-performing sector as oil rose, while communications was the worst-performer, dragged down by a dip in Alphabet.

Bitcoin climbed as traders looked ahead to this week's CLARITY Act markup as a potential catalyst.

Stocks that moved higher:

Oklo, Applied Digital, Bloom Energy, Nebius, POET Technologies, Plug Power, Seagate Technology Holdings, Western Digital, Micron, Corning, Credo Technology Group, Coherent, Applied Optoelectronics, and Navitas Semiconductor surged as investors piled into AI infrastructure and data center build-out plays, looking “for more ways to play offense.”
Intel rose on reports it's nearing a packaging deal with memory chip giant SK Hynix.
Tesla gained after Bloomberg reported Elon Musk will be among executives joining Trump for a trip to China.
Circle, the stablecoin giant, soared after reporting its first-quarter earnings this morning and announcing the massive proceeds from its ARC token presale.
Lumentum rose today after Nasdaq announced on Friday that it would add the optics company to its benchmark index alongside some of the world’s biggest tech companies.
Fox rose after its third-quarter revenue topped estimates.
Sony climbed after announcing a multibillion-dollar deal to acquire a 45,000-song music catalog including works by Beyoncé and Justin Bieber.
SharpLink Gaming and Galaxy Digital gained after announcing an agreement to roll out a $125 million liquidity fund deploying capital into on-chain yield strategies.

Stocks that moved lower:

Netflix dipped after Texas sued the streamer, accusing it of spying on children and collecting user data without consent.
IREN fell after announcing a $2 billion convertible notes offering.
GM dipped after reports it will cut up to 600 corporate IT workers.
Disney ticked lower after an FCC commissioner wrote a letter to its CEO saying the agency is on a campaign to censor the company.

How much Apple’s biggest contribution to the AI boom matters for its sales

Hint: it’s not Siri and it’s not much. Read more.

Dunkin’ is going public again — this time with an entire restaurant empire in tow

The doughnut chain’s parent company filed for an IPO last week.

Read more.

Following a groundbreaking debut, “The Devil Wears Prada 2” added $118.8 million worldwide across its second weekend — not only seeing the stylish sequel stay atop the box office, but also bringing Disney Studios’ total global cinema ticket takings to over $2 billion worldwide in just the first five months of 2026, per Deadline. Read more.

Alphabet is preparing a Japanese yen bond offering
It’s for “general corporate purposes.” Read: AI.
Investors really want Moderna to whip up a hantavirus vaccine
The company told Bloomberg it is in the early stages of researching vaccines to protect against hantaviruses.
OpenAI employees are cashing out their shares, dozens making $30 million each
The company allowed employees to sell up to $30 million of their shares in a pre-IPO tender offer.
Cerebras plans to raise IPO range amid surging AI demand
The company may raise its proposed IPO range to $150 to $160 a share, up from $115 to $125.

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