Stock Market Live January 13, 2026: S&P 500 (SPY) Jumps on Renewed Rate Cut Hopes

By Ian Cooper Updated Jan 13, 10:42AM EST · Published Jan 13, 9:18AM EST

Quick Read

CPI rose 0.3% in December with annual inflation at 2.7%. Core CPI came in at 0.2% monthly and 2.6% annually.
KeyBanc upgraded Intel and AMD on hyperscaler demand. Intel is sold out of server CPUs through 2026.
Multiple banks project gold could reach $5,000, driven by central bank buying and geopolitical tensions.

Live Updates

This Obesity Stock Just Popped 10%

Jan 13, 2026 at 10:41 AM EST

Shares of obesity drug stock, Structure Therapeutics (GPCR) are up $7.12, or just over 10%.

While we’re not seeing specific news, it appears there’s a good deal of excitement about the initiation of its first-in-human Phase 1 clinical study of ACCG-2671, the company’s lead oral small molecule amylin receptor agonist for the treatment of obesity.

Plus, not long ago, Genentech entered a $100 million deal with GPRC subsidiary Gasherbrum Bio. The deal grants Genentech rights for certain GPCR patents related to CT-996, an investigational small-molecule GLP-1 agonist in clinical development for type 2 diabetes and obesity, showing promising weight loss in early trials.

Micron Price Target Boosted by Bank of America

Jan 13, 2026 at 9:09 AM EST

Shares of Micron (NASDAQ: MU | MU Price Prediction) are up about $1.62 in premarket after analysts at Bank of America raised their price target to $400. The firm cited an increase in spot prices for dynamic random-access memory, or DRAM.

Shares of Nvidia (NASDAQ: NVDA) are on the move after Wolfe reiterated an outperform rating on the stock. The firm noted, “Nvidia is up ‘only’ 36% over the past year, underperforming other AI-related names. We think the reason for underperformance is threefold – the late launch of Blackwell, concerns about the sustainability of AI spending in general, as well as concerns about share losses to custom AI solutions,” as quoted by CNBC.

Even with an investigation into Fed boss Jerome Powell, unrest in the U.S., economic issues, and a potential issue with Iran, markets exploded higher on Monday.

Today, they’re getting another boost from the latest inflation numbers.

The S&P 500 is up about six points. The SPDR S&P 500 ETF (SPY) is up about $1.82 (or 0.26%). The Nasdaq is down about 26, as the Dow drops about 130 points.

Again, all thanks to the new inflation data that’s boosting hopes for an interest rate cut.

In fact, the consumer price index showed prices increased by 0.3% IN December, which puts the annual rate at 2.7%. Both were in line with expectations. Excluding food and energy, the core CPI rose 0.2% and 2.6% year-over-year, which was below expectations of 0.3% and 2.8%.

This comes just days after the December jobs report showed a slight weakening. Per the latest payroll data, nonfarm payrolls grew 50,000 in December, which was less than the 73,000 expected by analysts.

Gold Could Test $5,000 Soon

At record highs, gold could soon test $5,000. All as escalating tensions in Iran, mounting political pressure on the U.S. Federal Reserve, economic issues, and aggressive buying by global central banks boost demand for safe-haven assets.

According to analysts at HSBC, rising geopolitical risks could push gold above $5,050 during the first half of the year. “We believe that gold will continue to benefit from strong central bank demand, ongoing concerns over a weaker US dollar, and sustained interest in gold-backed ETFs,” HSBC said, as quoted by Mining.com.

Analysts at UBS say gold could rally to $5,000 by the third quarter, with the potential for $5,400 if political and economic risks mount. Bank of America is calling for $5,000 gold. JPMorgan is calling for $5,000 gold by the end of 2026.

We should also note that in the third quarter of 2025, global central banks pushed their net purchases to 220 tonnes, a 10% year over jump, and a 28% jump quarter over quarter, with no clear signs of slowing demand.

Intel and AMD Were Just Upgraded by KeyBanc

Analysts at KeyBanc just upgraded Intel (NASDAQ: INTC) and Advanced Micro Devices (NASDAQ: AMD) to an overweight rating, noting that both are benefiting from hyperscaler demand. As a result, AMD is up about $7.67 in premarket. INTC is up about $1.80 a share.

The firm raised its price target on INTC.

“Analyst John Vinh pointed out that Intel is largely sold out of server CPUs in 2026 amid outsized data center demand. Given this strength in demand, the company is considering raising its average selling price by 10% to 15%,” according to CNBC.

The firm also raised its AMD target price to $270, expecting its AI graphics processing units to generate about $14 billion to $15 billion in revenue for the year.