Your Evening Briefing

May 15, 2026

Stocks slide on inflation fears as oil climbs

Stocks fell from records, with the S&P 500, Nasdaq 100, and Russell 2000 dropping on the day. The S&P 500 eked out a weekly gain — its seventh-straight winning week — while the Nasdaq 100 and Russell 2000 finished the week lower as investors grow concerned that oil supply disruption from the ongoing closure of the Strait of Hormuz could drive up inflation.

Persistent inflation could, in turn, force the Fed to hike rates. Traders are now pricing in a 38% chance that the central bank’s next rate hike will occur before 2027, up from a 20% chance a week ago.

(Event contracts are offered through Robinhood Derivatives, LLC - probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

Energy was the only sector to finish in the green as oil prices jumped after President Trump told Fox News that that he is “not going to be much more patient” with Iran. Materials was the worst performer.

Bitcoin gave back the bump it got from the CLARITY Act clearing the Senate Banking Committee on Thursday.

Stocks that moved higher:

Figma jumped after posting impressive sales in Q1 after the bell yesterday, surpassing Wall Street expectations and raising its full-year guidance.
Visa gained after President Trump said he urged China to grant the payment company greater access to its market.
Papa John’s surged on a report that its largest franchisee and Irth Capital are working together on a take-private offer.
Magnum Ice Cream Company climbed after a Reuters report that Blackstone and other PE firms are exploring bids.
Toyota edged up after filing plans for a $2 billion assembly line in Texas.

Stocks that moved lower:

POET Technologies tumbled after announcing a $400 million direct share offering.
Infleqtion sank after reporting a Q1 adjusted loss from operations of $13.2 million and sales of $9.5 million in yesterday’s post-market earnings report.

Millennials may not have been the real job-hoppers after all

New BLS data shows late boomers had actually held more jobs by the same age. Read more.

From Desi Arnaz to SpaceX: Understanding the rules of the modern economy

We talked with “Planet Money” author Alex Mayyasi about how AI might help or replace you, the superstar effect, and how the compounding effect extends beyond money.

Read more.

We now have the value for Alphabet’s Japanese yen bond raise — 576.5 billion yen, or $3.6 billion — and it’s a record for a foreign issuer in Japan. The deal was spread across seven tranches with maturities ranging from 3 to 40 years, allowing the company to lock in rates as low as 1.965%. Read more.

Tesla finally reported un-redacted information about its Robotaxi crashes
There have been a total of 17 crashes so far among its Texas Robotaxis. Read about them all here.
SpaceX reportedly plans to IPO in mid-June, chooses to list on Nasdaq
Elon Musk's aerospace and satellite manufacturer could price its initial public offering as soon as June 11.
Spotify wants us all to join its 20th anniversary celebrations
Looking at its finances, no wonder the streamer’s in a festive mood.
Could Madonna, Shakira, and BTS make the FIFA World Cup final more like the Super Bowl?
Just because it’s the biggest soccer game in the world doesn’t mean it can’t feel like football to Americans.

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