EB Daily Market Report - Thursday, May 14, 2026

It's another solid day in U.S. stocks. Cisco Systems (CSCO, +13.04%) soared after reporting better-than-expected revenues and EPS and raising both revenue and EPS guidance for next quarter and the full year ahead. CSCO had been an underperformer in the strong telecom equipment space ($DJUSCT, +7.14%), but that has changed significantly in May.

The Volatility Index ($VIX, -2.46%) continues its descent as stock prices rise. The key level that I like to watch is the 16-17 support range. Given that we've seen our major indices move up into all-time high territory off of the March low, I suspect it's only a matter of time before the VIX finally breaks below this level. That thinking is only aided by the lack of a VIX spike after two disappointing inflation reports on Tuesday (CPI) and Wednesday (PPI).

Cryptocurrencies are on the rise, with bitcoin ($BTCUSD, +2.55%) back above 81,000. XRP has jumped over 8% and is back above 1.50 for the first time since March. A close above 1.60 would be the first since the beginning of February.

Technology (XLK, +1.68%) is again leading today's advance. Energy (XLE, +0.81%) is also having a strong session, despite just a fractional gain in crude oil ($WTIC, +0.45%) as price stabilizes just above $100 per barrel. Silver ($SILVER, -4.95%) is weak today after a very strong start to the month of May.

Semiconductors ($DJUSSC, +2.93%) and software ($DJUSSW, +1.63%) are also contributing to technology's strength.

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Happy trading!
Tom