U.S. Stock Market Hit New Ath As Clarity Act Markup Nears

U.S. Equities Cross $77 Trillion for the First Time

The U.S. stock market has officially crossed the $77 trillion market capitalization threshold, marking a new all-time high and a historic first. The milestone comes after the market added roughly $10 trillion in value over just 39 days, driven in part by the stabilization of key energy corridors.

The broader rally has been substantial. The market staged a sharp rise of about 13% since late March, its sharpest climb since April 2020, fueled by improving geopolitical sentiment and rising corporate confidence. U.S. stocks are expected to hit fresh record highs in the months ahead, according to Goldman Sachs Research, powered by ongoing growth in corporate earnings.

Tech heavyweights have led the charge. Thanks to the AI boom, Nvidia is currently the most valuable company in the world and was the first to reach a market cap of $4 trillion. The S&P 500 rose to 7,414 points on May 13, 2026, up 6.41% over the past month and 25.82% compared to the same time last year.

Clarity Act Markup Adds to the Moment

Coinciding with the equity milestone, crypto markets are watching Washington closely. The Senate Banking Committee met on Thursday, May 14, to consider the Digital Asset Market Clarity Act of 2025, putting the crypto market structure bill back on the calendar after a January postponement.

Clarity, short for Digital Asset Market Clarity Act, passed the House of Representatives last year but has faced setbacks in the Senate Banking Committee as banks and stablecoin companies have disagreed over how and when rewards can be paid on stablecoin balances. Previous wrinkles in the negotiation have since been ironed out over four months of talks, clearing a path for committee approval this week.

The markup gives Senate Banking another shot at moving the bill before the White House's July 4 target for Clarity Act passage. Senator Lummis has been direct about the timeline: miss the May window and the bill realistically waits until 2030, after the midterms reshape the chamber.

Prediction market Polymarket currently puts the odds of the Clarity Act passing in 2026 at 62%, down from nearly 80% after the stablecoin compromise in early May, partly due to renewed banking-sector pressure in the final days before the vote. Democrats, meanwhile, have pushed for ethics guardrails related to the Trump family's crypto involvement. Lawmakers also need to resolve a sticky conflict-of-interest provision before a final version is likely to be available for a vote from the overall Senate, where 60 yes votes will be needed, necessarily including a significant number of Democrats.

Sources:
CoinDesk: Crypto industry cheers Senate Clarity Act markup date
Fortune: The Clarity Act hits a critical juncture
Goldman Sachs: US Stocks Forecast to Rise in 2026