Wall Street Sets Record, Nvidia to Cisco AI Shares Surge
JAKARTA, KOMPAS.com - The United States (US) stock market closed higher on Thursday (14/5/2026) trading, propelled by a rally in technology shares amid market optimism regarding artificial intelligence (AI) developments, as well as investor attention on the meeting between US President Donald Trump and Chinese President Xi Jinping in Beijing.
Quoting Reuters on Friday (15/5/2026), all three major Wall Street indices ended in positive territory. The S&P 500 and Nasdaq indices again set new record closing highs, continuing the strengthening trend from recent sessions.
Meanwhile, the Dow Jones Industrial Average closed just around 0.3 per cent below its all-time record closing high achieved on 10 February.
In detail, the Dow Jones index rose 370.26 points or 0.75 per cent to the level of 50,063.46. The S&P 500 strengthened by 56.99 points or 0.77 per cent to 7,501.24, while the Nasdaq Composite rose 232.88 points or 0.88 per cent to 26,635.22.
“Everyone is asking how long this rally will last. Many investors are enjoying this rally, but at the same time, they are starting to worry,” said Senior Portfolio Manager at Dakota Wealth, Robert Pavlik.
According to him, investors cannot just wait on the sidelines when indices keep setting new record highs.
The Trump-Xi Jinping meeting has become the main focus of the market because it discusses various strategic issues, from trade, US arms sales to Taiwan, to the reopening of the Strait of Hormuz, which was disrupted due to the US-Israel conflict with Iran.
Nvidia shares surged 4.4 per cent after the US government allowed sales of the company’s H200 chips to Chinese companies.
“We are pleased to see both leaders showing a collaborative tone and hope it continues into a long-term agreement,” said Portfolio Manager at Founder ETFs, Michael Monaghan.
From an economic perspective, US retail sales data came in as expected by the market. However, the increase was largely supported by a surge in petrol prices due to the Iran war, which also drove the largest import price increase since October 2022.
A series of inflation data this week has raised concerns that the rise in energy prices could spread to other goods and services, thereby reducing the chances of a near-term interest rate cut by the US central bank or the Federal Reserve (The Fed).
In addition to Nvidia, shares of other semiconductor and AI companies moved variably. Qualcomm, Intel, Sandisk, and Micron shares actually corrected between 3.4 per cent and 6.1 per cent.
Cisco shares jumped 13.4 per cent to an all-time high after the company announced the layoff of nearly 4,000 employees and raised its annual revenue projections.
On the other hand, Boeing shares fell 4.7 per cent despite Trump stating that China agreed to purchase 200 Boeing aircraft.
Meanwhile, shares of AI chip company Cerebras skyrocketed 68.2 per cent on its US stock market debut.