Today’s Market Recap: AI Rally Sends S&P 500, Nasdaq to Records; Nvidia Leads Surge

President Xi Jinping held talks with U.S. President Donald Trump, noting that the essence of China-U.S. economic and trade relations is mutual benefit. Xi emphasized that equal consultation is the only correct choice for addressing differences and frictions. Trump described the meeting as a significant global event and expressed his willingness to work with President Xi to strengthen cooperation, resolve disputes properly, and initiate the best era of U.S.-China relations.

Saudi Arabia is reportedly developing a Middle Eastern version of a "Non-Aggression Pact" to promote reconciliation between Gulf states and Iran, potentially excluding Israel. The proposal is modeled after the 1970s "Helsinki Process" from the Cold War era. Arab diplomats noted that the treaty's effectiveness depends on its participants; while including both Iran and Israel is currently political impossible, excluding Israel could prove counterproductive.

A second Japanese oil tanker successfully transited the Strait of Hormuz in "stealth mode." The VLCC Eneos Endeavor disabled its position signals to cross the strait quietly, becoming the second Japanese supertanker to do so since the outbreak of war in the Middle East. Unlike a previous vessel that broadcasted its information two weeks ago, this transit was conducted in total silence. The ship, fully loaded with crude oil, is currently listed as "awaiting instructions."

U.S. retail sales in April saw their strongest growth in eight months, rising 4.9% year-over-year. While data indicates that consumers are still spending, the University of Michigan consumer sentiment index has simultaneously plunged to historic lows, reflecting a sharp disconnect between spending behavior and overall confidence.

The AI boom has sparked the largest IPO of 2026 as "Nvidia challenger" Cerebras (CBRS) made its market debut. Shares surged as much as 109% during intraday trading, pushing the company's valuation past $100 billion, before closing up 68%. The IPO raised $5.5 billion through the sale of 30 million shares, with the CEO reporting that the offering was oversubscribed by more than 25 times.

By 3:30 PM, employee restrooms were "overflowing" as staff checked their brokerage accounts. The South Korean stock market is witnessing an unprecedented surge with retail investors flooding in; the nation of 51 million people now holds over 100 million active trading accounts. A powerful sense of "Fear of Missing Out" (FOMO) has gripped offices and homes, leading a growing number of parents to buy stocks for their children. Data from Toss Securities shows that new accounts for minors under 18 jumped nearly tenfold in the first quarter compared to the previous year.

The chart below lists the ten most actively traded stocks in the market last Friday. Bolstered by massive trading volume and exceptional liquidity, these assets have become key benchmarks for tracking global market dynamics.