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Trader Edward McCarthy works on the floor of the New York Stock Exchange, Wednesday, May 13, 2026.

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Tech carries Wall Street toward records, even as most stocks fall after discouraging inflation data

Tech carries Wall Street toward records, even as most stocks fall after discouraging inflation data

Resurgent technology stocks are leading Wall Street toward records, even as the majority of U.S. stocks fall following another discouraging update on inflation. The S&P 500 rose 0.6% Wednesday and was on track to top its all-time high. The Dow Jones Industrial Average dipped 57 points, and the Nasdaq composite rose 1.2% toward its own record. Micron Technology, Nvidia and other tech stocks led the way, a day after stumbling in an industrywide swoon for AI stocks. Most other kinds of stocks weakened after a report showed inflation at the U.S. wholesale level was significantly worse last month than economists expected.