US Stock Market

What today felt like

If you’re watching headlines about “hot” inflation and a tougher Fed, but your portfolio was green again today, it probably feels like the market is ignoring the bad news. That’s pretty close to what happened: big tech and AI names pulled the major indexes higher, while the worries stayed in the background.

The spine of the day: AI tech up, macro worries muted

The S&P 500, Nasdaq, and Dow all rose around three‑quarters of a percent, keeping them near record territory. The clear leader was technology: the sector jumped about 1.5%, with AI‑linked chip giants like Nvidia and Broadcom posting strong gains.

That’s happening against macro data that, on paper, should make investors nervous. Import and export prices jumped more than expected in April, another sign that inflation pressures haven’t fully cooled. Retail sales rose for a third straight month, and jobless claims stayed low, pointing to an economy that’s still humming rather than slowing.

Despite that mix — hotter inflation plus solid growth, the kind of combo that can push the Fed toward tighter policy — Treasury yields barely budged and volatility slipped, with the VIX sitting in the mid‑teens. Credit markets still look very calm, with spreads near multi‑decade lows. Put simply: the market’s “risk thermometer” is still reading mild.