S&P Rises as Chipmakers Lift Stocks | The Close 5/11/2026

Watch on YouTube ↗  |  May 11, 2026 at 23:42  |  1:30:25  |  Bloomberg Markets
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.
Trade Ideas
Jill Carey Hall Bank of America 4:04
Russell 2000 to outperform mega caps.
The Russell 2000 and small caps are expected to outperform mega caps this year, driven by a stronger pickup in earnings growth in the second half, sensitivity to the manufacturing recovery (ISM back into expansion), reasonable valuations, and potential relative outperformance if stagflation risks rise.
IWM HIGH
Brian Tanquilut Reporter, Bloomberg News 20:06
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.
HIMS HIGH
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This Bloomberg Markets video, published May 11, 2026, features Jill Carey Hall, Brian Tanquilut discussing IWM, HIMS. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Jill Carey Hall, Brian Tanquilut  · Tickers: IWM, HIMS