S&P Rises as Chipmakers Lift Stocks | The Close 5/11/2026
Speakers
Jill Carey Hall
— Bank of America
Brian Tanquilut
— Reporter, Bloomberg News
Mebane Faber
— Co-Founder and CIO, Cambria Investment Management
Diane Swonk
— Chief Economist, KPMG
Summary
The S&P 500 closed at a record high, driven by semiconductor stocks and energy. Bank of America's Jill Carey Hall advocated for small cap outperformance, while Jefferies' Brian Tanquilut warned of downside in Hims & Hers due to GLP1 margin compression. The show also previewed the upcoming CPI print and President Trump's summit with China.
- S&P 500 closed at a record high for the seventh consecutive week.
- Semiconductor stocks like Qualcomm, Micron, and Intel hit record closes.
- Jill Carey Hall from Bank of America expects Russell 2000 to outperform mega caps.
- Brian Tanquilut from Jefferies sees downside risk in Hims & Hers (HIMS) due to GLP1 margin shift.
- Mebane Faber highlighted the outperformance of South Korean semiconductor stocks like Hanmi.
- Diane Swonk from KPMG predicted sticky inflation and suggested the Fed may need to hike rates.
- The market shrugged off rising oil prices and geopolitical risks from the Iran conflict.
- Trump's upcoming summit with China expected to focus on trade and the Strait of Hormuz blockade.
Ideas
HIMS downside on GLP1 margin squeeze.
Hims & Hers (HIMS) faces downside risk as its GLP1 business shifts from high-margin compounding to low-margin distribution of Novo Nordisk brand, causing margin compression and likely guidance cuts; the stock's multiple has already expanded, but earnings estimates have not been reset.
Up Next
This Bloomberg Markets video, published May 11, 2026, features Brian Tanquilut discussing HIMS. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Brian Tanquilut · Tickers: HIMS