New York, May 11, 2026, 20:02 EDT
- U.S. stocks finished in the green; the S&P 500 and Nasdaq each set new closing highs.
- Index futures barely budged after hours, with the tape holding steady ahead of Tuesday’s inflation report.
- GoPro and BuzzFeed shares surged after hours. Hims & Hers dropped, hit by an unexpected quarterly loss.
Stocks in the U.S. hovered just below record territory in after-hours action Monday, with Wall Street leaning on AI-fueled chip gains to offset fresh inflation jitters and stronger oil. Extended trading brought only slight index moves: S&P 500 ticking up 0.02%, Nasdaq 100 adding 0.08%, Dow inching 0.04% higher, StockAnalysis.com data showed.
The rally meets a key test with Tuesday’s Consumer Price Index, the Labor Department’s read on what households are paying. Reuters surveyed economists, and they’re expecting a 0.6% CPI increase. Investors are also eyeing core CPI—removing food and energy—to see if oil’s recent surge is fueling wider inflation.
Bulls have lost ground on rate bets. BofA Global Research doesn’t see the Federal Reserve cutting at all for the remainder of 2026. Goldman Sachs, pointing to sticky inflation and a resilient jobs picture, shifted its forecast for the first cut to December—back from September.
The Dow Jones Industrial Average tacked on 95.31 points, or 0.19%, finishing at 49,704.47. S&P 500 picked up 13.91 points, up 0.19%, settling at 7,412.84, while the Nasdaq Composite edged 27.05 points higher—0.10%—to end at 26,274.13. Both the S&P 500 and Nasdaq wrapped up at record highs.
Semis led the charge. The PHLX Semiconductor Index popped 2.6%. Intel picked up 3.6%, and Qualcomm surged 8.4% to close at a new record. “The AI infrastructure trade has taken on a life entirely of its own,” said Ross Mayfield, investment strategy analyst at Baird. Reuters
Earnings keep propping up the market. HSBC bumped its S&P 500 year-end forecast to 7,650, up from 7,500, pointing to strong profit growth. The bank expects first-quarter S&P 500 earnings to climb close to 29% from last year, with AI-focused megacap tech companies doing much of the heavy lifting.
Inflation numbers could easily upset that narrative. An uptick in core CPI, a fresh surge in crude prices, or any escalation out of the Middle East might just keep the Fed on hold, leaving the market’s slim AI leadership hanging out there.
BuzzFeed shares jumped in after-hours trading as Byron Allen, the media executive, struck a deal to acquire about 52% of the company for $120 million and step in as CEO. BuzzFeed has faced headwinds as advertisers redirect budgets to TikTok and Instagram, which is owned by Meta Platforms.
GoPro shares climbed after hours, with the action-camera company announcing a review of strategic alternatives—everything from a sale to a merger is on the table. The move comes as GoPro has fielded unsolicited interest related to its expansion into defense and aerospace markets. Founder and CEO Nicholas Woodman said GoPro will consult with advisers to find the best way to “maximize shareholder value.” PR Newswire
Hims & Hers headed lower. The stock slid over 12% after hours when the telehealth firm missed Q1 revenue forecasts and unexpectedly landed in the red. The move to branded GLP-1 weight-loss meds like Novo Nordisk’s Wegovy put pressure on margins.
Revenue climbed 4% to $608.1 million, but the bottom line swung hard—net loss hit $92.1 million, reversing from a $49.5 million profit the previous year. Hims maintained its full-year revenue outlook of $2.8 billion to $3.0 billion. Still, with margins under pressure, investors weren’t reassured.
The setup’s tight heading into the next session. AI-driven trades and earnings have lured buyers, but now inflation, oil, and a Fed path that’s turned more hawkish than just a few weeks back are crowding the tape.
