Tech Drives S&P 500 to Record High on August 13, 2026

Market Wrap

U.S. stock indexes advanced on Thursday, August 13, 2026, with the S&P 500 reaching an intraday record high and closing higher. The S&P 500 rose by 0.43% (according to Source 2) or 0.65% (according to Source 6) or 0.77% (according to Source 7), closing at 7798.99 (Source 6) or 7808.52 (Source 7). The Nasdaq Composite also saw gains, advancing by 0.58% (Source 2) or 0.81% (Source 6) or 0.98% (Source 7), closing at 26803.03 (Source 6) or 26849.16 (Source 7). The Dow Jones Industrial Average showed a mixed performance depending on the source; it declined by 0.18% (Source 2) but rose by 0.13% (Source 6) or 0.36% (Source 7), closing at 53839.99 (Source 6) or 53964.16 (Source 7). The Russell 2000, representing smaller companies, also advanced by 0.24% (Source 6) or 0.48% (Source 7), closing at 3052.85 (Source 6) or 3060.05 (Source 7).

Among individual movers, Dell and HP saw gains following robust earnings results from Lenovo. Tapestry, however, was noted as bottoming the S&P 500 after its quarterly report.

What Drove It

The market's performance was primarily driven by several factors converging to lift investor sentiment. A retreat in crude oil prices contributed to an improved risk appetite among investors. Critically, newly released economic data showed tamer producer price inflation for July, with U.S. producer prices reported as unchanged. This softer-than-expected inflation reading led traders to reduce their expectations for a Federal Reserve interest rate hike next month, which was a significant catalyst for the market. This aligns with Wednesday's news that U.S. consumer prices barely increased in July.

Technology stocks, particularly those in the semiconductor sector and other heavyweight tech firms, powered the S&P 500's ascent. The ongoing optimism around Artificial Intelligence (AI) also played a role. While CoreWeave's upbeat results and increased capital expenditure forecast fueled AI optimism on Wednesday, Super Micro Computer also surged on a strong forecast that day.

Sector Highlights

Technology stocks were notable leaders on Thursday, contributing significantly to the S&P 500's record high. Specifically, semiconductor stocks showed strong advances. Dell and HP experienced gains, which Reuters attributed to robust earnings from Lenovo, suggesting positive sentiment for the broader computing hardware sector.

Conversely, Tapestry declined following its quarterly report, placing it at the bottom of the S&P 500 for the day. While not explicitly stated as a sector, this suggests pressure on some retail-consumer segments.

Precious Metals & Commodities

Crude oil prices retreated on Thursday, falling amid signals of lower demand and higher inventories. Crude Oil fell by 2.52% to $81.17 (Source 6) or 3.52% to $80.34 (Source 7). Gold prices also declined, falling by 1.37% to $4406.20 (Source 6) or 0.84% to $4429.80 (Source 7). The Dollar Index showed a slight movement, rising by 0.02% to 96.26 (Source 6) or falling by 0.10% to 96.15 (Source 7). The U.S. 10-Year Treasury yield was noted at 4.654% (Source 6) or 4.618% (Source 7).

The S&P GSCI Index Spot, which tracks commodity prices, declined by 1.49% to 681.15 (Source 6) or 1.95% to 677.95 (Source 7).

What to Watch Tomorrow

The provided sources do not specify any earnings releases, data releases, or events scheduled for Friday, August 14, 2026. Investors will likely continue to monitor inflation trends and Federal Reserve policy expectations.

Bottom Line

U.S. equities, led by technology, climbed on Thursday as softer producer price inflation reinforced expectations of the Federal Reserve holding interest rates steady. This reduced rate hike uncertainty and falling oil prices contributed to a positive trading session for most major indexes. Long-term investors may observe the continued strength in technology and AI-related sectors, alongside the implications of moderating inflation on future monetary policy decisions.

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