01 Stock Market
As of May 29, U.S. stock index futures performed as follows: Dow Jones Industrial Average futures rose 0.27%, S&P 500 futures gained 0.13%, and Nasdaq 100 futures added 0.07%. The trio’s modest advance signals a cautiously positive tone ahead of the opening bell, supported by upbeat corporate results but tempered by lingering macro uncertainty. Traders appear to be balancing enthusiasm for AI-linked earnings with vigilance toward upcoming economic indicators.
Notable Stock Movers: DELL up 33.73% at $424.00 after raising full-year revenue and profit forecasts on booming demand for AI-optimized servers. In contrast, space-communication play ASTS down 14.29% at $114.07 following a competitor’s launch failure. Semiconductor leaders held firm: MU up 2.19% at $943.70, NVDA up 0.35% at $215.00, and server-hardware specialist SMCI up 7.41% at $44.36. Chip giant INTC up 1.25% at $122.40 also benefited from reports of record hyperscaler capital-expenditure plans.
Broader participation among hardware, memory, and server suppliers underscores continued rotation toward companies enabling artificial-intelligence infrastructure, while abrupt declines in select aerospace names highlight elevated event risk in speculative corners of the market.
02 Other Markets
• 10-year U.S. Treasury yield fell 0.26%, to 4.44%.
• U.S. Dollar Index rose 0.05% to 99.05.
• WTI crude oil futures fell 1.16% to 87.87 USD/barrel; COMEX gold futures rose 0.63% to 4,561.00 USD/ounce.
03 Key News
1. Dell Technologies raised its full-year outlook on soaring AI server demand. Fiscal first-quarter revenue jumped 88% to $43.84 billion, with $16.1 billion from AI-optimized servers. Management now sees up to $169 billion in annual sales and $17.90 in adjusted EPS, fueling a pre-market surge in the stock.
2. A Blue Origin rocket explosion triggered sharp sell-offs in space-communication peers. A New Glenn vehicle burst into flames during testing, leading to safety reviews. Investors reacted swiftly, sending AST SpaceMobile down over 13% and Rocket Lab lower by more than 5% before the bell.
3. SentinelOne will cut 8% of its workforce amid softer revenue guidance. The cybersecurity firm projected second-quarter sales of up to $291 million and booked a $25 million restructuring charge, citing tighter enterprise budgets. Shares slid over 20% in pre-market action.
4. Hewlett Packard Enterprise shares jumped after Dell’s blockbuster results signaled sector tailwinds. Dell’s AI order boom renewed confidence in server demand, lifting expectations for HPE’s high-performance computing and networking segments.
5. Alphabet and Amazon plan to invest more than $700 billion in AI infrastructure this year. The massive spending roadmap buoyed suppliers of chips and storage, supporting early gains in Super Micro Computer, Micron, Qualcomm, and other semiconductor names.
6. Hedgeye Asset Management launched the Hedgeye Index Adds ETF to exploit index-inclusion buying. The fund will hold up to 40 candidates for major benchmark entry, aiming to capture price pops when passive funds rebalance—timed ahead of the widely anticipated SpaceX IPO.
7. Paxos won SEC approval to operate as a blockchain-based central securities depository. The registration allows Paxos Securities Settlement Company to provide regulated clearing and settlement services using distributed-ledger technology, marking a landmark step for fintech infrastructure.
8. Crypto brokerage FalconX confidentially filed for a U.S. IPO. Engaging major banks for underwriting, the $8 billion-valued firm aims to bring institutional digital-asset trading to public investors, signaling sustained interest in crypto infrastructure despite market volatility.
9. Robinhood advanced its collaboration with the U.S. Treasury as the “Trump Account” savings app opened for enrollment. The brokerage will act as custodian and has earmarked about $100 million to build the platform while also unveiling tools that connect customer-controlled AI agents to trading and payments.
10. The Reserve Bank of New Zealand flagged earlier and steeper interest-rate hikes to curb inflation. Governor Anna Breman said policy tightening may outpace prior projections after a split committee decision kept the cash rate at 2.25%, reinforcing global vigilance on inflation and supporting dollar strength ahead of U.S. market open.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
