Bitget UEX Daily | Trump Visits China; Walsh Confirmed as Fed Chair; PPI Surge Fuels Rate-Hike Bets (May 14, 2026)

I. Top Headlines

Federal Reserve Developments

Kevin Walsh Formally Confirmed by Senate to Serve as Next Fed Chair

• On Wednesday local time, the Senate approved Kevin Walsh as the next Federal Reserve Chair by a 54-45 vote, succeeding current Chair Powell whose term ends May 15. This concludes a months-long selection process that began in summer 2025.
• Markets are closely watching for policy continuity under Walsh; short-term decisions are likely to remain cautious, though longer-term uncertainty could heighten bond market volatility.
• The confirmation coincides with President Trump’s visit to Beijing, highlighting the sensitivity of global central bank policy amid high-level U.S.-China engagement and likely exerting medium-term influence on the dollar and risk assets.

International Commodities

OPEC Monthly Report Shows April Crude Output at Lowest Since 1990

• OPEC’s overall daily production in April plunged 1.727 million barrels to 18.98 million bpd, with Saudi Arabia accounting for roughly half the decline; its output has fallen 42% to 6.32 million bpd, the lowest since the Gulf War.
• Supply contraction combined with geopolitical factors drove short-term oil price rebounds.
• Analysts note that the aggressive cut signals reinforce expectations of a tight supply balance, supporting further upside pressure on crude, though global demand slowdown remains a key risk.

Macroeconomic Policy

U.S. April PPI Jumps 6% YoY — Highest Since 2022, Rate-Hike Odds Rise

• April PPI rose 1.4% MoM and 6% YoY, with sharp gains in energy and transportation costs; services inflation hit a four-year high.
• The 30-year Treasury auction yield climbed to 5.046%, the first breach of 5% since the 2007 financial crisis, with weak demand.
• Market pricing now puts the probability of one rate hike in 2026 near 50%. Hotter-than-expected inflation may force the Fed to delay rate cuts or even shift toward tightening, weighing on both bond and equity risk sentiment.

II. Market Recap

Commodities FX Performance

• Spot Gold: +0.13%, around $4,695/oz
• Spot Silver: +0.06%, around $87.5/oz
• WTI Crude: +0.21%, around $97.7/bbl
• Brent Crude: +0.08%, around $103.8/bbl
• U.S. Dollar Index: modestly higher at 98.457, supported by hot PPI data and the new Fed Chair confirmation boosting safe-haven dollar demand.

Cryptocurrency Performance

• BTC: –1.27%, currently around $79,670. PPI-driven rate concerns triggered a brief dip below $78,000 before modest recovery; overall remains in high-level consolidation.
• ETH: –0.58%, currently around $2,269.
• Total Crypto Market Cap: –1.2% to $2.74 trillion.
• Liquidations: 24H total ~$3.75 billion, with long positions liquidated ~$3.1 billion.
• Bitget BTC/USDT Liquidation Heatmap: BTC trading near $79,630. Clear long-short divide; heavy short liquidation clusters between $80,000–$82,000—if price pushes higher, a short squeeze cascade is possible. Long-side liquidations concentrated near $78,000 but smaller in scale, giving the short-term structure a bias toward “upward liquidity sweep.”

• Spot ETF Flows: BTC spot ETFs saw net outflows of ~$3.46 billion yesterday; ETH spot ETFs net outflows of ~$0.14 billion.
• BTC Flows: Spot outflows ~$2.12 billion, futures net outflows ~$8.02 billion.

U.S. Stock Indices

• Dow Jones: –0.14% at 49,693.20, weighed by defensive sectors and modest continued consolidation.
• SP 500: +0.58% at 7,444.25, fresh all-time high, led by technology and growth stocks.
• Nasdaq: +1.20% at 26,402.34, fresh all-time high, driven by strong rebound in semiconductor names.

Magnificent 7 Performance

• NVIDIA (NVDA): +2.29% at ~$226, sustained AI demand.
• Alphabet (GOOGL): +3.94% at ~$402, strong search and cloud results.
• Apple (AAPL): +1.38% at ~$298, stable hardware ecosystem.
• Microsoft (MSFT): –0.63% at ~$415, short-term profit-taking.
• Amazon (AMZN): +1.62% at ~$270, dual drivers from e-commerce and cloud.
• Meta (META): +2.26% at ~$616, ad revenue beat expectations.
• Tesla (TSLA): +2.73% at ~$436, autonomous driving progress boosting sentiment. Overall, six of the seven rose; AI theme continues to dominate, with NVIDIA and Google standing out.

Sector Rotation Highlights

Semiconductors/Chips +2%+

• Key names: NVIDIA +2.29%, Cisco surging 19% after-hours.
• Drivers: Sharp upward revision in AI orders and accelerating global compute demand, sustaining valuation re-rating.

Chinese Concept Stocks +7%+ collective rebound

• Key name: Century Internet +25%+.
• Drivers: Strategic investor participation and expectations around high-level U.S.-China engagement aiding risk sentiment recovery.

III. In-Depth U.S. Stock Analysis

1. Cisco (CSCO) – AI Order Surge Beats Expectations

Event Summary: Cisco reported fiscal Q2 revenue of $15.8 billion and adjusted EPS of $1.06, both slightly ahead of estimates. Q4 guidance of $16.7–16.9 billion exceeded consensus by 5.6–6.8%. Full-year AI orders from hyperscalers now projected at $9 billion (80% upward revision), with $5.3 billion already secured. The company also announced a restructuring plan involving ~4,000 job cuts to sharpen AI focus. Market Take: Institutions largely applaud the accelerated AI transition; the order upgrade underscores Cisco’s leadership in data-center networking. Shares jumped nearly 19% in after-hours trading. Investment Insight: The AI capex cycle remains in its early stage. Cisco’s restructuring enhances strategic focus and long-term growth visibility—watch for further AI order execution.

2. Cerebras Systems (CBRS) – IPO Pricing Repeatedly Raised, Valuation Nears $49 Billion

Event Summary: AI chipmaker Cerebras saw overwhelming demand with >20x oversubscription. Expected pricing now at $185/share (above prior $150–160 range) after multiple upward revisions to size and range; valuation approaching $49 billion. Previous acquisition attempts by Arm and SoftBank were rejected. Market Take: Wall Street remains extremely bullish on AI infrastructure chips; Cerebras’ wafer-scale technology draws strong institutional interest. Investment Insight: In an environment of acute AI compute shortage, Cerebras’ IPO could become a new benchmark for the semiconductor sector—high near-term excitement but monitor secondary-market volatility.

3. AMD – 13F Reveals Quantum Semiconductor Investment Moves

Event Summary: AMD’s latest 13F filing shows significant increase in Marvell Technology stake and fresh exposure to quantum computing, further expanding its AI and advanced-process roadmap. Market Take: Institutions view the moves as strengthening AMD’s position in data centers and high-performance computing, creating differentiated competition versus NVIDIA. Investment Insight: Strategic investments in frontier technologies position AMD to capture long-term AI and quantum upside—monitor ecosystem expansion progress.

IV. Crypto Project Updates

1. Société Générale’s digital asset arm SG-FORGE will deploy euro and dollar stablecoins EURCV and USDCV on the Canton Network for tokenized collateral, repo financing, and institutional settlement.
2. Prediction market Polymarket’s April volume fell 8.9% MoM to $10.2 billion—first monthly decline since last August—while rival Kalshi grew 13% to $14.8 billion.
3. New CFTC Chair Mike Selig stated the agency is ready to regulate the next frontier of finance. The Innovation Task Force is advancing work to provide clear regulatory pathways for blockchain, AI, prediction markets, and other innovations, aiming to attract projects to build in the U.S.
4. BitGo data shows “conviction buyers” now hold nearly 4 million BTC, up 300% since late 2025. At ~$80,000, this represents roughly $320 billion in committed capital.
5. Japan’s largest corporate Bitcoin holder Metaplanet postponed its preferred-share listing. CEO Simon Gerovich cited underdeveloped Japanese preferred-share market, regulatory cash-flow requirements, and monthly dividend frequency far above local norms.
6. Fidelity International launched its first tokenized fund FILQ—the on-chain version of its multi-billion-dollar institutional liquidity fund—offering 24/7 trading with Moody’s highest AAA-mf rating.
7. The U.S. Senate confirmed Kevin Walsh as Fed Chair by 54-45. Following his earlier confirmation as Governor, Walsh will assume the role after White House formalities once Powell’s term ends this Friday (May 15).

V. Today’s Market Calendar

Economic Data Release Schedule

Key Event Preview

May 14 (Thursday)

• President Trump visits China; U.S. government invites CEOs from NVIDIA, Apple, ExxonMobil, Boeing and others to join — ★★★★★
• Applied Materials (AMAT) earnings after the bell; Cerebras Systems expected to list on Nasdaq.
• New York Fed President Williams speaks (U.S. afternoon) — watch for latest comments on inflation and policy path.

May 15 (Friday)

• Powell’s Fed Chair term officially ends; Walsh expected to take over.
• 13F filing deadline — Berkshire Hathaway, Duan Yongping and others to disclose latest U.S. stock holdings.

This week’s core themes center on the Powell-to-Walsh transition, U.S. CPI/PPI data, potential Trump China visit outcomes, and earnings from Circle, Oklo, AMAT, etc. Market volatility is expected to intensify.

Institutional Views

Goldman Sachs and peers note that hotter-than-expected April PPI combined with the Fed Chair transition has lifted near-term rate-hike probability to around 50%, likely keeping upward pressure on Treasury yields and capping risk assets. However, President Trump’s China visit signals potential U.S.-China détente, which could ease trade frictions and support global supply chains and technology stocks. In the medium term, OPEC’s deep production cuts underpin oil prices, while gold retains safe-haven appeal. Crypto markets face short-term pressure but institutional ETF holdings show no major exodus; BTC retains solid support near $78,000. Investors should monitor today’s retail sales data for further Fed expectation clues. Overall, markets are navigating a window of policy uncertainty intertwined with major event risks, with elevated volatility likely to persist.

Disclaimer: The above content is compiled through AI-based search and has been reviewed by humans for verification purposes only. It does not constitute any investment advice. Data in this article may contain unavoidable discrepancies—please refer to real-time market data for accuracy.