Daily Finance Digest — May 11, 2026

Markets Overview

U.S. stock-index futures fell and oil prices surged on Sunday after President Trump called Iran's latest proposal to end the war "totally unacceptable," injecting fresh uncertainty into a market that had been riding a powerful rally. The S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) had both soared to new highs earlier this month on trade optimism, but geopolitical risk is reasserting itself heading into the week. Wall Street veteran Ed Yardeni flagged a "melt-up" scenario, noting "we've never seen anything like this" as analysts set new top-end S&P 500 targets.

Saudi Aramco reported Q1 profit jumped 26% as its East-West pipeline reached full capacity, helping mitigate the energy shock from the Iran conflict. Soaring oil prices are reverberating across asset classes, with Bitcoin facing headwinds from the energy cost spike — though analysts urge investors not to panic given the historically transient nature of geopolitical oil premiums.

Earnings Reports

AMD (AMD) delivered a blowout Q1, with sales surging 38% to $10.3 billion and adjusted EPS jumping 43% to $1.37 per share. Management highlighted a $120 billion server CPU opportunity and the stock has ripped 320% over the past 12 months, raising questions about whether there's still runway for new buyers.

Planet Fitness (PLNT) plunged following earnings, extending a slide for a stock that was already under pressure. The miss stands out in an otherwise solid earnings season. Sally Beauty (SBH) moved in the opposite direction, gaining after topping fiscal Q2 expectations and issuing solid forward guidance.

Uber (UBER) CEO Dara Khosrowshahi delivered upbeat commentary, with the company navigating the autonomous vehicle transition while maintaining dominance in ride-hailing, food delivery, and commercial freight. Nvidia (NVDA) reports earnings later in May, and bulls are loading up ahead of the print, betting the AI infrastructure cycle still has legs.

Fed & Economic Data

This is a historic week for the Federal Reserve. Friday, May 15, marks Jerome Powell's final day as Fed chair — but in a move that breaks 75 years of precedent, Powell plans to remain on the Board of Governors indefinitely, a decision likely to frustrate President Trump. Powell's nine words that "firmly shifted the narrative on Wall Street" underscore the tension between the administration's desire for rate cuts and the Fed's inflation mandate.

Goldman Sachs pushed back its forecast for Fed rate cuts, citing persistent inflation concerns. The Iran war's impact on oil prices is complicating the picture: rising energy costs threaten to reignite inflation, potentially forcing the Fed's hand — though not in the direction the White House wants. Social Security recipients are feeling the squeeze as inflation quietly erodes the purchasing power of their checks despite cost-of-living adjustments.

Hot Sectors

Semiconductors remain the market's dominant theme. Taiwan Semiconductor (TSM) continues to surge as the essential AI infrastructure play, while a global helium crunch — driven by the loss of roughly a third of global supply from Qatar after Iranian drone strikes — is accelerating the reshoring of chip manufacturing to the U.S. Investors are eyeing helium-dependent chipmakers as the next bottleneck trade.

Energy is back in focus with Chevron (CVX) up 20% year-to-date, returning over $5 billion to shareholders for the 16th consecutive quarter. The Iran conflict is driving flows into oil majors, though green energy advocates caution the price spike is likely transitory as the long-term shift toward renewables continues.

Real estate saw notable institutional moves: Waterfall Asset Management initiated a ~$5 million position in InvenTrust Properties (IVT) and added ~$6.6 million in Millrose Properties (MRP), signaling a bet on asset-light homebuilder models. Meanwhile, Cura Wealth Advisors dumped $3 million in Blackstone Mortgage Trust (BXMT) shares amid ongoing office sector stress.

Stock News

Tesla (TSLA) is down ~13% year-to-date while Rivian (RIVN) has fallen roughly 24%, with both EV makers struggling in 2026 despite broader market strength. Archer Aviation (ACHR), down 23% with a $4.8 billion market cap, is attracting attention from growth investors betting on the air-taxi disruption thesis.

AT&T (T) is pitching itself as a turnaround story after shedding the ill-fated acquisitions that began in 2014 and weighed on the stock for a decade. Marshall Investment Management initiated a $4.0 million position in TCW Flexible Income ETF (FLXR), acquiring 101,528 shares — a notable move into flexible bond strategies as rate uncertainty persists.

A prominent venture investor who backed Nvidia in 2016 and a memory-chip maker in 2024 has unveiled a third high-conviction call in hardware stocks, per MarketWatch, though the specific name remains under wraps.

Market Analysis

The big story this week is the Powell transition. Markets must price in a new Fed chair amid an active war, elevated oil prices, and an administration openly pushing for looser monetary policy. The unprecedented decision by Powell to stay on the board adds a wildcard — will his continued presence constrain his successor?

Watch for: Nvidia's upcoming earnings report as the next major catalyst for tech; any movement on Iran-U.S. negotiations that could swing oil and risk assets dramatically; and Goldman's updated rate path, which now implies higher-for-longer is becoming the consensus. The "melt-up" narrative is gaining traction, but with oil surging and geopolitical risk elevated, the market's resilience will be tested this week.