Tech Dip Buyers Lift Stocks as Oil Rally Cools: Markets Wrap

HSBC Says Momentum Signals for Stocks Are 'Max Bullish'

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Andre Janse Van Vuuren and Rivaldo Jantjies

May 12, 2026 at 10:08 PM UTC

Updated on

May 13, 2026 at 10:40 AM UTC

Dip buyers drove technology stocks higher, with traders betting that a record-breaking rally in chipmakers has further room to run. Oil wavered after a streak of three daily gains as the Strait of Hormuz remained shut.

Nasdaq 100 contracts advanced 0.7% alongside a rebound in South Korea’s Kospi index and an all-time high for a key tech-heavy gauge in China. S&P 500 futures gained 0.2%, while mining stocks led a 0.3% advance in Europe.