U.S. Stock Futures Fall 0.6% After S&P 500 Tops 7,500

7 articles · Updated · CNBC · May 14

Nasdaq 100 futures led early declines, sliding 0.6%, while S&P 500 futures fell 0.37% and Dow futures lost 132 points after another record cash-session close.
Thursday’s rally pushed the S&P 500 above 7,500 for the first time, lifted the Dow back over 50,000, and left the S&P 500 and Nasdaq headed for a seventh straight weekly gain.
AI enthusiasm has powered the run, but strategists say the advance is increasingly narrow, with the biggest tech names masking weaker breadth across the broader market.
U.S.-China summit talks remain in focus through Friday, with investors watching for signals on trade, tariffs, Iran and Taiwan after both sides agreed the Strait of Hormuz must stay open.
In after-hours trading, Cerebras rose 6% after its market debut, while CNBC reported SpaceX could publish its IPO prospectus as soon as next week.

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As tech giants build their own custom chips, can newcomers like Cerebras truly challenge NVIDIA's dominance in the AI market?