These are the big news stories for today, Wednesday, May 13th.
Headlines
President Trump departed for Beijing ahead of a high-stakes summit with Chinese President Xi Jinping, after weeks of unsuccessful U.S. efforts to persuade China to help bring Iran back to negotiations and ease tensions around the Strait of Hormuz. Trump has said the ceasefire is on “massive life support,” and some aides say he is now more seriously considering a resumption of major combat operations in Iran. Source
Marty Makary resigned as commissioner of the Food and Drug Administration, stepping aside amid reports that his tenure was coming to an end over internal policy disagreements, most notably his resistance to approving flavored e-cigarettes. Trump named Kyle Diamantas, the deputy commissioner for food, to step into Makary’s role on an acting basis. Source
Prices that consumers pay for a wide range of goods and services increased at a faster-than-expected pace in April, as another burst in energy prices raised further concerns about inflation’s impact on the U.S. economy — the consumer price index rose at an annual pace of 3.8%, the highest since May 2023. The report also contained bad news for workers, as real average hourly wages slipped 0.5% for the month. Find out More
Politics
Sen. Chris Van Hollen questioned FBI Director Kash Patel about alleged excessive drinking during a Senate hearing, to which Patel shot back, accusing Van Hollen of misconduct during an El Salvador trip. The heated exchange escalated into each man offering to take an on-the-spot sobriety test in front of committee members. See Details
President Trump strongly criticized media coverage of his stalled war against Iran on Tuesday, claiming the stories amount to “virtual treason.” The comments came as polls show a majority of Americans oppose the conflict and blame the president for surging gas prices. Source
Federal prosecutors announced that California Mayor Eileen Wang has been charged with secretly working as an agent for the Chinese Communist Party, agreeing to plead guilty to the felony offense of acting as an unregistered foreign agent while spreading propaganda from her elected office. Source
U.S. News
A federal court unsealed an indictment charging three defendants — Synergy Marine Pte Ltd, Synergy Maritime Pte Ltd, and a shoreside superintendent — with conspiracy to defraud the United States and with causing the death of six construction workers on the bridge, among other charges. The indictment alleges the economic loss in the case is at least $5 billion. Source
The hantavirus outbreak aboard the MV Hondius remains a low risk to the general public as 18 passengers from the cruise ship arrived at specialized U.S. facilities, with several health officials saying Americans should not panic because the virus does not spread easily between people. One American passenger has tested positive and is under quarantine in Nebraska. See Details
Parents Leila Turner-Scott and Angus Scott filed a lawsuit against OpenAI after their son Sam Nelson, 19, died after ChatGPT advised him it was safe to combine kratom with Xanax — an anti-anxiety medication — providing guidance the suit alleges the AI was not qualified to dispense. Source
Business
U.S. stock futures broadly rose in early Wednesday trading as traders looked ahead to the release of another major inflation report — S&P 500 futures gained 0.1% and Nasdaq 100 futures added 0.27%, while futures tied to the Dow Jones Industrial Average were flat. During Tuesday’s session, both the S&P 500 and Nasdaq Composite pulled back from record highs, weighed down by losses in technology stocks and higher oil prices. Find out More
Oil futures extended losses early Wednesday, with West Texas Intermediate futures for June slipping 0.97% to $101.15 per barrel, while Brent crude fell 0.80% to $106.90 per barrel. Analysts warn that even an optimistic resolution to the Iran conflict could take months to unwind supply chain disruptions and ease fuel prices. Read More
Food prices rose 2.9% in April as fuel costs increased due to the Iran War. This was the highest year-over-year inflation increase for food prices since August 2023. Source
Market Report
| Symbol | Last Close | % Change | |
| Dow Jones | DJIA | $49,739.62 | 0.11% |
| S&P 500 | SPX | $6,939.03 | 1.37% |
| Nasdaq Composite | IXIC | $15,000.00 | -0.71% |
| Alphabet Inc. | GOOG | $383.82 | -0.76% |
| Tesla, Inc. | TSLA | $433.45 | -2.60% |
| Apple Inc. | AAPL | $294.80 | 0.72% |
| Microsoft Corp. | MSFT | $407.77 | -1.19% |
World News
UK Prime Minister Keir Starmer remained in post despite a growing chorus of calls for his resignation, including four junior ministers who quit, with traders at their most bearish on the pound in five weeks and odds placing his chances of surviving beyond this year at 1-in-5. Labour lost nearly 1,500 seats in English local council elections last week, while the hard-right Reform UK party won 1,454 seats in England. Read More
Russia test-fired the Sarmat intercontinental ballistic missile, hailed by President Putin as “the most powerful missile in the world,” with Putin claiming the combined power of its individually targeted warheads is more than four times higher than any Western counterpart. Putin said the nuclear-armed Sarmat would enter combat service by the end of the year, coming against a backdrop of deep concern over the collapse of arms control treaties between the U.S. and Russia. Source
The White House previewed discussions at the Beijing summit on artificial intelligence, cybersecurity, and China’s rapidly expanding nuclear program, while on the economic front, the administration is focusing on a proposed U.S.-China “Board of Trade” that could initially cover commerce in the “double-digit billions.” Trump also confirmed he plans to raise Taiwan arms sales directly with Xi. See Details
Entertainment
The 2026 Cannes Film Festival began, with jury members Demi Moore and Ruth Negga walking the red carpet at the opening ceremony alongside stars including Jane Fonda, Heidi Klum, and Joan Collins. Director Peter Jackson was presented with an honorary Palme d’Or Award, with his Lord of the Rings star Elijah Wood appearing on stage to present the honor. Read More
Kelvin Evans, 40, pleaded guilty in Fulton County Superior Court in Atlanta to charges stemming from the theft of hard drives containing unreleased Beyoncé music, footage, set lists, and laptops from a rental vehicle belonging to one of her choreographers during a 2025 Cowboy Carter tour stop. Source
ABC’s ‘Dancing with the Stars’ cast Savannah Bannana’s baseball player Jackson Olson for Season 35. Olson joins announced cast members “Summer House” star Ciara Miller and “Love Island” favorite Maura Higgins. The show returns this fall. Source
Sports
Memphis Grizzlies forward Brandon Clarke has died at 29, according to NBC Los Angeles. Paramedics responded to a 911 call at a home in the San Fernando Valley on Monday evening and found Clarke dead, with drug paraphernalia present, and the incident is being investigated as a possible overdose. NBA Commissioner Adam Silver said he was “devastated,” calling Clarke “a beloved teammate and leader who played the game with enormous passion and grit.” See Details
The Cavaliers-Pistons second-round series is tied 2-2, with Game 5 set for tonight in Detroit; Donovan Mitchell scored 39 points in the second half of Game 4, tying an NBA playoff record, as Cleveland evened the series. Game 6 is scheduled for May 15 in Cleveland. Source
The San Antonio Spurs defeated the Minnesota Timberwolves 126-97 in Game 5, taking a 3-2 series lead with Game 6 set for May 15 in Minnesota. Victor Wembanyama and Devin Booker-signed rookie Stephon Castle’s emergence has sparked San Antonio’s unlikely playoff run. Source
Off the Wall
A 73-pound blue catfish landed in Florida’s Suwannee River. The state’s Fish and Wildlife Conservation Commission displayed the fish as the biggest of its kind discovered in Florida. Source
