US Equities Color

Latest edition · August 13, 2026

GS Equities Color - Software Bounce - 13 Aug 2026

The S&P 500 closed at a new all-time high supported by AI momentum, benign CPI/PPI prints, and falling rates and oil prices. Software stocks continued their dramatic rally, turning green YTD after rising 40% from April lows.

US equities closed higher on August 13, 2026, with the S&P 500 (+65bps to 7,799) setting a new all-time high. Rally catalysts included positive AI sentiment, benign CPI and PPI inflation reports, and easing oil prices and bond yields. Tech and software led the charge, with the software ETF (IGV) rising 3% to turn positive on the year. In options markets, volatility skew collapsed across the board while trading desks saw strong interest in short-dated SPY call options to play for further upside.

Key takeaways from the latest edition

• 1.The S&P 500 reached a new all-time high driven by positive AI sentiment, benign inflation data (CPI/PPI), and relief in oil prices and rates.
• 2.Software equities continued their strong rebound (IGV +3%), turning positive year-to-date and climbing +40% from April lows.
• 3.Derivatives trading saw skew crushed across the board and strong demand for short-dated SPY call options as spot equities continued to trend higher.

What this series covers

• US EQUITIES COLOR: SOFTWARE BOUNCE
• DERIVS

Edition archive

• GS Equities Color - Software Bounce - 13 Aug 2026

  August 13, 2026

• US EQUITIES COLOR STRONG BANK EPS + SOFTER CPI

  July 14, 2026

• US EQUITIES COLOR- UGLY

  July 7, 2026

• US EQUITIES COLOR UNWINDY

  July 1, 2026

• US EQUITIES COLOR BROADENING (cont'd)

  June 25, 2026

• US EQUITIES COLOR Warsh Debut Pressure Global Equities

  June 17, 2026