Market Report, 2026-05-14

China has grabbed the attention today. A U.S. delegation comprising of President Donald Trump, some of the highest-ranking officials, and the CEOs of some of the most influential businesses arrived in Beijing. Conversations around trade and geopolitics were among the top items on the agenda. The leaders of the two countries have projected significant pragmatism, with the U.S. President focused on personal rapport while the Chinese President expressed further openness of the Chinese economy to American businesses. Nevertheless, the subject of Taiwan was brought up, as expected, and was positioned as the most important issue in U.S.-China relations, with an explicit warning to Trump that mishandling it could lead to conflict.

Stocks surged, led by AI and AI-adjacent companies. The Dow Jones Industrial Average rose 370 points to 50,063. The Nasdaq and the S&P 500 both rose around three-quarters of a percent to 29,580 and 7,501, respectively. The technology sector rose more than 1%, led by Nvidia, whose CEO is part of the delegation to China to boost the prospects of broadening its AI chip market.

The bond market continued to focus on inflation. All benchmark rates barely moved, with the 5-year yield at 4.14%, the 10-year yield at 4.48%, and the 30-year yield remaining above 5%, a 19-year high.

Today’s economic data continued to show resilience in the U.S. economy, with retail sales rising again; however, inflation played a bigger role in April. Import prices spiked and exceeded expectations by 1%.

There are some industrial reports tomorrow. It will also be the last day for Federal Reserve Chair Jerome Powell, who was appointed by President Trump in 2018 and has served ever since. His successor will be Kevin Warsh, who has pledged “regime change” at the Federal Reserve.

Adams Wealth Advisors will keep you informed as new developments unfold.