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Investment Daily: US stocks rose, while Treasuries were mixed following upbeat PPI

14 May 2026

Key takeaways

  • US stocks rose; Treasury yield curve steepened modestly.
  • European stocks rose, while government bonds were range-bound.
  • Asian stocks mostly rose.

Markets

US stocks mostly rose on Wednesday, led by gains in tech heavyweights. The S&P 500 gained 0.6%. 

US Treasuries were mixed, and the yield curve steepened modestly following upbeat PPI readings and a soft 30-year Treasury debt auction result. 10-year yields climbed 1bp to 4.47%, while 2-year yields were down 1bp to 3.98%.

European stocks rose on Wednesday as investors assessed some positive earnings and looked ahead to the meeting between US and Chinese presidents. The Euro Stoxx 50 increased 0.9%. The German DAX was up 0.8%, and the French CAC rose 0.4%. In the UK, the FTSE 100 rose 0.6%.

European government bonds were range-bound. 10-year German bund yield stayed at 3.10%, while 10-year French bond yields were down 1bp to 3.73%. In the UK, 10-year gilt yield decreased 4bp to 5.06%.

Asian stock markets traded mixed but mostly higher on Wednesday, with geopolitical developments remaining in focus. Korea’s Kospi surged 2.6%, reversing losses in the prior session, while Japan’s Nikkei 225 advanced 0.8%. China’s Shanghai Composite and Hong Kong’s Hang Seng gained 0.7% and 0.2%, respectively. Elsewhere, India’s Sensex edged up 0.1% following recent declines.

Crude oil prices pulled back modestly on Wednesday following recent rallies. WTI for June delivery settled 1.1% lower at USD 101.0 a barrel. 

Key Data Releases and Events

Releases yesterday

In the US, PPI rose 1.4% mom in April, accelerating from a 0.7% mom increase in March, driven by higher energy costs.

In the Eurozone, the second estimate of Q1 GDP experienced a marginal growth of 0.1% qoq, as expected. 

Releases due today (14 May 2026)

In the US, retail sales growth should soften after March's strong rise. Discretionary spending could be weak as higher oil prices squeeze real income.

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