S&P 500, Nasdaq hit records as Nvidia gains on China chip-sale report

U.S. stocks closed higher on May 14, 2026, with the S&P 500 and Nasdaq Composite setting record closing highs as technology shares led gains and investors weighed U.S. economic data and U.S.-China talks in Beijing. The Dow Jones Industrial Average rose 370.26 points, or 0.75%, to 50,063.46. The S&P 500 gained 56.99 points, or 0.77%, to 7,501.24, while the Nasdaq added 232.88 points, or 0.88%, to 26,635.22. The Dow finished about 0.3% below its Feb. 10 record close. Nvidia rose 4.4% after reports that Washington approved renewed sales of its H200 AI chips to China. Other AI-linked names saw profit-taking, with Qualcomm, Intel, Sandisk and Micron Technology down 3.4% to 6.1%. Cerebras Systems jumped 68.2% in its trading debut. Cisco surged 13.4% to a record after announcing nearly 4,000 job cuts and raising its full-year revenue forecast. Inflation concerns persisted as higher gasoline prices lifted retail sales and import prices posted their biggest increase since October 2022.