Markets News, Aug. 13, 2026: S&P 500 Closes at Record, Nasdaq Jumps as Tech Shares Surge Following Tame Inflation Data
U.S. stocks rose after tame July PPI data eased Fed-hike concerns. The S&P 500 and Nasdaq closed at record levels, up 0.7% and 0.8%. The 10-year Treasury yield fell to about 4.65%. Workday surged on a Reuters report that Silver Lake is in talks to acquire it. Birkenstock jumped after Q3 results and raised 2026 outlook.
How this was made
The 30-second read
Why it matters
Lower wholesale inflation and softer core readings reduced rate-hike odds, lifting US equities, especially tech and memory. It also highlights discrete single-name events: Workday deal talks, Birkenstock raised guidance, and Tapestry guidance disappointment.
Market read
Traders get a same-day macro catalyst (PPI easing rate fears) plus several actionable single-name catalysts (deal talks, raised guidance, guidance miss, and earnings timing).
What to watch
The wrap cites several large moves (CSCO, SMCI, SpaceX) without detailing the underlying catalysts for each, so traders should verify whether company-specific news exists before sizing positions.
Background
The article frames a broad market rally after July PPI came in tame, easing expectations for near-term Fed hikes.
Ticker impact
Workday shares surged after Reuters reported Silver Lake was in talks to acquire the HR software firm, with discussions ongoing.
Bullish bias for the next several sessions, but expect volatility as deal details and confirmation evolve.
The article cites an active M&A discussion reported by Reuters, which typically creates immediate repricing; however, no binding terms or certainty are provided.
Tapestry shares fell about 16% after issuing a worse-than-expected fiscal 2027 sales forecast despite meeting Q4 sales expectations.
Near-term downside risk until investors gain clarity on demand and margin trajectory.
The text provides a specific forecast range versus consensus and ties the move directly to the guidance, making it actionable for traders.
Birkenstock stock jumped roughly 13% after Q3 results beat expectations and the company raised full-year revenue and adjusted EBITDA outlook.
Likely continued strength for several sessions, with pullbacks possible if broader market rates reverse.
The article includes concrete beat metrics and explicit raised outlook ranges, which are typically sufficient to drive follow-through.
Cisco shares sank 9% during the session, limiting Dow gains, as part of the broader tech-led market move.
Watch for continuation or mean reversion depending on whether the selloff has a separate catalyst beyond this wrap.
The article states the magnitude of the move but does not provide the underlying new CSCO-specific news, reducing confidence.
Sandisk (SNDK) was cited as up about 15% and pacing the index, reflecting strong tech participation tied to the inflation-driven rally.
Near-term upside bias as long as rates and inflation expectations stay supportive.
The move is attributed to market-wide inflation relief rather than a discrete SNDK event in the text.
Micron Technology (MU) was listed among Roundhill Memory ETF (DRAM) components that surged roughly 4% after tame inflation data.
Momentum could persist while yields remain contained, but expect sensitivity to any reversal in rates.
The article links the move to macro data and ETF component performance, not a MU-specific disclosure.
Seagate Technology (STX) was listed as a DRAM component that surged roughly 4% alongside other memory stocks after the PPI report.
Short-term upside bias with the broader memory complex.
No STX-specific catalyst is provided; the linkage is primarily to the inflation-driven market move.
Applied Materials (AMAT) was down about 2.5% ahead of its earnings report after markets close today.
Direction depends on the earnings release; near-term could remain choppy until results.
The article provides a clear timing catalyst (earnings after the close) and the immediate pre-earnings price action.
Market effects
Tame PPI and lower yields supported tech and memory, with DRAM components and parts of the Magnificent Seven ending higher.
Primarily US-focused index and rate narrative; no explicit non-US market catalyst beyond global benchmarks.
Lower US yields can spill over to global tech/semis valuation multiples; oil and gold moves reflect broader risk and macro positioning.
Counterpoint
The rally may be more about rates relief than fundamentals, so memory and high-beta tech could retrace if yields rebound or inflation re-accelerates.
Key entities
- public_companyWorkday
Reuters reported Silver Lake is in talks to acquire Workday, driving a sharp share surge.
- public_companyBirkenstock Holding
Reported Q3 strength and raised full-year revenue and adjusted EBITDA outlook.
- public_companyTapestry
Issued a weaker-than-expected fiscal 2027 sales forecast, sending shares lower.
- public_companyApplied Materials
Shares were down ahead of its earnings report after the close.
- public_companyCisco Systems
Shares fell sharply during the session, limiting Dow gains.
