S&P 500, Nasdaq hit records as Senate confirms Warsh for Fed chair

U.S. stocks ended mixed on May 13, 2026, as AI and megacap technology shares drove the S&P 500 and Nasdaq Composite to record closes, even after hotter-than-expected inflation data and Senate confirmation of Kevin Warsh as the next Federal Reserve chair. The S&P 500 rose 0.58% to 7,444.25, while the Nasdaq gained 1.20% to 26,402.34. The Dow Jones Industrial Average fell 67.36 points, or 0.14%, to 49,693.20. The Philadelphia Semiconductor Index jumped 2.57% to 12,017.98, led by Nvidia (NVDA), Micron (MU) and other chip names. The Senate confirmed Warsh in a 54-45 vote. Separately, April producer prices rose 1.4% from March and 6% from a year earlier, exceeding forecasts. Boston Fed President Susan Collins said rates may need to stay restrictive for longer and did not rule out another increase. Alibaba (BABA) surged 8.35% after reporting fiscal fourth-quarter net income of $3.41 billion, while Ford (F) jumped 13.18% after Morgan Stanley highlighted its energy-storage potential.