Stocks Get Tech Boost Despite Pickup in Inflation | The Close 5/13/2026

Watch on YouTube ↗  |  May 13, 2026 at 22:35  |  1:29:33  |  Bloomberg Markets
Speakers
Jason Bazinet — Managing Director, Citigroup
Lindsey Bell — Chief Strategist, 24/7 Wall St.
Gargi Chaudhuri — Head of iShares Investment Strategy, BlackRock
Allison McCartney — Managing Director, Wealth Management, UBS Alignment Partners
Romaine Bostick — Anchor, Bloomberg

Summary

The episode covers a record close for the S&P 500 and Nasdaq, powered by tech and AI stocks despite hotter-than-expected CPI and PPI reports. Key guests discuss BlackRock's view on inflation and large-cap stocks, Citigroup's negative outlook on StubHub, Cisco's strong AI-driven earnings beat, and the IPO pipeline including GMR Services and potential SpaceX listing. The bond market shows divergence with 30-year yields above 5% for the first time since 2007.

  • S&P 500 and Nasdaq close at record highs, led by tech and AI stocks.
  • CPI and PPI both came in hotter than expected, but equity markets focused on strong earnings.
  • 30-year Treasury yields rose above 5% at auction, first time since 2007.
  • BlackRock's Gargi Chaudhuri recommends large-cap stocks and short-duration TIPS for inflation protection.
  • Citigroup's Jason Bazinet warns StubHub faces headwinds from Live Nation crackdown and lowered expectations.
  • Cisco beats earnings and raises AI-related hyperscaler orders to $9 billion, shares surge after hours.
  • GMR Services debuts in IPO, down 6.8% on first day; CEO discusses growth through AI and M&A.
  • President Trump visits China for summit with Xi Jinping, with NVIDIA CEO Jensen Huang joining.
Trade Ideas
Gargi Chaudhuri Head of iShares Investment Strategy, BlackRock 7:25
Short-duration TIPS offer inflation protection.
The 0-to-5 year part of the inflation-linked curve offers attractive inflation protection and positive carry, as CPI prints remain elevated but show signs of normalization. Investors are getting paid to own inflation protection in that short-duration segment, and demand for these products has been strong.
Short-duration TIPS LOW
Jason Bazinet Managing Director, Citigroup 19:10
StubHub faces significant headwinds ahead.
StubHub faces significant headwinds from the FTC crackdown on Live Nation's practices that limited primary ticket scalping, reducing the supply of tickets available on StubHub. Additionally, the street's overly optimistic $1 billion EBITDA expectations were unrealistic; actual EBITDA is around $400 million. The company's direct issuance business has been walked back, and consumer spending concerns could further pressure results.
StubHub MED
Lindsey Bell Chief Strategist, 24/7 Wall St. 56:49
Cisco's AI orders drive growth.
Cisco's AI infrastructure sales are ramping rapidly, with hyperscaler orders growing from $5.3 billion to $9 billion for fiscal 2026. Gross margins are stabilizing after previous memory cost pressures, and the company's guidance for Q4 revenue and EPS exceeded expectations. The stock has room to run as the AI build-out continues and memory costs may have peaked.
CSCO MED
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This Bloomberg Markets video, published May 13, 2026, features Gargi Chaudhuri, Jason Bazinet, Lindsey Bell discussing Short-duration TIPS, StubHub, CSCO. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Gargi Chaudhuri, Jason Bazinet, Lindsey Bell  · Tickers: Short-duration TIPS, StubHub, CSCO