Your Evening Briefing

May 20, 2026

Stocks climb as bond yields and oil prices fall

Stocks climbed broadly as a pullback in Treasury yields lifted sentiment.

Energy was the worst-performing sector as oil prices fell on end-of-war optimism as President Trump said that the US and Iran were in the “final stages” of negotiations. Consumer discretionary was today’s best-performing sector, which got a boost as airlines and cruise lines rallied on cheaper fuel costs. Information technology was the second-best performer as semiconductors surged ahead of tonight’s Q1 earnings report from Nvidia.

All of the Magnificent 7 names rose except for Alphabet, which finished flat.

Moving higher:

Nvidia climbed ahead of its Q1 earnings report after market close, lifting the entire semiconductor sector with AMD, Arm, Marvell Technology, and Astera Labs all surging.
Oil-sensitive travel stocks Delta Air Lines, United Airlines, American Airlines, Southwest Airlines, JetBlue, Carnival, and Norwegian Cruise Line all surged as oil prices plunged, cutting one of the biggest input costs for travel operators.
T1 Energy spiked on record call volumes after a Roth analyst called a recent short report a buying opportunity.
AMC popped after a filing showed CEO, Chairman, and President Adam Aron bought 250,000 shares yesterday.
Boeing jumped after China confirmed an agreement to buy 200 jets, a major order that had been in limbo amid trade tensions.
Micron climbed on reports of a looming strike at Samsung that could constrain memory chip supply and benefit competitors.
Cava rallied after beating Q1 estimates and raising full-year guidance after the bell yesterday.
Lowe’s edged up after beating estimates despite what management called a “challenging housing macro” environment.
GameStop climbed after boosting its stake in eBay to over 6% after its takeover offer was rejected.
Roblox got a boost after unveiling its first-ever share repurchase program after the bell yesterday.
Hyperliquid Strategies soared as its ETFs topped inflows while the hype token lit up.

Stocks that moved lower:

Despite a Q1 earnings beat, Target sank on expense concerns that overshadowed its raised guidance.
Ubisoft dropped after delaying its profit and cash flow targets by a year as its corporate reboot drags on.
Intuit fell after announcing it will cut 17% of its workforce to streamline operations and pivot toward AI.

Which companies have the best and worst reputations, according to Americans?

The 2026 Axios Harris Poll 100 reputation ranking suggests the US prefers Big Tech to Big Media. Read more.

GitHub may have fumbled one of the biggest first-mover advantages in history

Rivals like Cursor and Claude Code are eroding GitHub’s Copilot user base, and Microsoft execs are sounding the alarm about the platform itself.

Read more.

WSJ: OpenAI IPO filing could be coming as soon as this week
According to the report, the ChatGPT maker is targeting a September IPO.
Physical attacks on cryptocurrency holders keep ticking up
Conferences, exchange chiefs, and even rumored bitcoin creators are all spending on security.
Bitcoin ETFs suffer near $1 billion in outflows in 2 days, as Trump Media withdraws bitcoin ETF application
Bitcoin’s price is “trapped between 76,000 and 78,000,” with analysts saying the dip reflects “a deeper structural problem beneath crypto markets.”

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