Stock Market Today, May 11: Chipmakers Drive Midday Gains Despite Oil Concerns
Key takeaways
- The Dow Jones Industrial Average (DJINDICES:^DJI) was barely changed, falling 0.01% to 49,604.50 as oil’s latest spike tempered AI‑driven optimism.
- Chip leaders, including Nvidia and Intel, extended their AI‑driven rally.
- Biotech name Moderna jumped in early trading as investors look to its early hantavirus research.
Emma Newbery, The Motley Fool Tue, May 12, 2026 at 12:15 AM GMT+7 2 min read MRNA ^GSPC ^DJI QCOM MU As of midday, the S&P 500 (SNPINDEX:^GSPC) rose 0.34% to 7,424.04, the Nasdaq Composite (NASDAQINDEX:^IXIC) added 0.38% to 26,346.51. The Dow Jones Industrial Average (DJINDICES:^DJI) was barely changed, falling 0.01% to 49,604.50 as oil’s latest spike tempered AI‑driven optimism.
Chip leaders, including Nvidia and Intel, extended their AI‑driven rally. Qualcomm surged on an analyst upgrade, and Micron Technology continued to rise. Demand for AI memory has analysts talking about a sector supercycle.
Biotech name Moderna jumped in early trading as investors look to its early hantavirus research. The stock has gained more than 15% in the past five days. Circle Internet Group soared on optimism about stablecoins.