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DAILY STACK
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Five stories ranked by Real-Life Impact
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Friday, May 29, 2026
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Today's Thesis: Dell posted $43.8 billion in one quarter and beat estimates by 65%, the S&P and Nasdaq closed at records again, PCE hit 3.8% — the highest in three years — GDP got revised down to 1.6%, oil stayed below $89 on shaky ceasefire hopes, and every number this week pointed the same direction: your 401(k) keeps climbing, your borrowing costs keep rising, and the summer ahead depends on whether Warsh blinks or Iran does.
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Why CNBC Won’t Touch This (Yet)
The biggest financial story in America isn't trending on Twitter.
It isn't on the front page of the Journal.
There is a virtual media blackout on a massive discovery.
A 20-year task force just unlocked $500 trillion in "potato-shaped" mineral rocks.
These minerals are sitting right on the U.S. seabed.
One small company is already positioned to benefit.
They are moving before the news goes mainstream.
Once this hits mainstream coverage, the ground-floor price will be history.
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1
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Your job
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DELL $43.8B rev · +88% YoY · EPS beat 65%
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Dell just posted $43.8 billion in one quarter — and the AI job engine keeps running
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Dell reported $43.84 billion in Q1 revenue after the bell Thursday — an 88% jump from a year ago and $8 billion above what Wall Street expected. Adjusted earnings hit $4.86 a share versus the $2.94 consensus, a 65% beat. The company also won a Defense Department contract tied to its AI server infrastructure. When a hardware company doubles its revenue in 12 months and adds a government customer that size, the hiring, the supply chain jobs, and the data center construction work attached to it don't slow down — they expand. Jobless claims came in at 215,000 on Thursday, still well below recession levels.
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The other side: The stock was already up 32% in three weeks heading into the print, so much of the beat may be priced in by the time the market opens — and AI server margins are under pressure as competition from HPE and Lenovo intensifies.
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2
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Travel
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Oil below $89 · ceasefire extended · fares easing
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Oil stayed below $89 and the ceasefire got extended — your June flight could cost less
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WTI crude stayed below $89 on Thursday after Wednesday's 5.5% drop, and negotiators reportedly agreed to extend the US-Iran ceasefire. Oil is now on pace for its first monthly decline since the war started in February — a drop from $111 to $88 in just ten days. If crude holds below $90 into June, jet fuel costs start to ease and the summer fare increases that airlines baked in earlier this spring lose their justification. That would be the first real price break for travelers since the Strait closed three months ago.
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The other side: TheStreet called the latest Iran report "bogus" — the same label it gave the ILNA draft deal last week — and the White House called Wednesday's Hormuz claim a "complete fabrication," so the floor under oil prices is built on headlines, not signatures.
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3
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Your vote
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PCE 3.8% · 3-year high · GDP revised to 1.6%
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Inflation hit a three-year high and the economy slowed — Warsh just inherited both
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The April PCE price index came in at 3.8% year over year — up from 3.5% in March and the highest reading since mid-2023. The same morning, Q1 GDP was revised down to 1.6% as consumer spending and investment both weakened. Warsh now faces the worst combination for a new Fed chair: inflation rising and growth slowing, three weeks before his first rate decision.
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The other side: The monthly PCE reading of +0.4% came in below the 0.5% estimate, the 10-year yield actually fell to 4.48%, and stocks rallied to records — so the market read the report as bad but not worse than feared.
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4
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Markets
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S&P 7,563 record · SNOW +36.5% · BBY +5%
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The S&P and Nasdaq set records again — now your 401(k) heads into June at all-time highs
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The S&P 500 gained 0.58% to 7,563.63 and the Nasdaq rose 0.91% to 26,917.47 — both fresh records. Snowflake surged 36.5% for its best day ever, and Best Buy jumped 5% after posting comps of +2%.
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The other side: The Dow barely moved (+0.05%) while the Nasdaq set records — that gap between old-economy and AI names keeps widening, and stretched rallies built on hope have a habit of correcting fast.
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5
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Your money
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10-yr 4.48% · FOMC June 17 · rates still elevated
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The 10-year yield fell to 4.48% — but Warsh still has three weeks to decide what it means
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The 10-year Treasury yield eased to 4.48% on Thursday, down from last week's 4.69% peak. That's good news for your borrowing costs, but with PCE at 3.8% and GDP slowing, the direction after June's FOMC is still a coin flip.
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The other side: If oil stays below $90 and the ceasefire holds into June, the energy-driven inflation spike could reverse by the time Warsh sits down — giving him room to hold rates instead of hiking.
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Off The Stack
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Salesforce fell 2.8% after hours Wednesday on tepid full-year guidance despite beating on revenue and earnings. — A read on enterprise software spending, but Dell's blowout overshadowed it and the stock reaction may be overdone by the open.
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Costco and Gap also reported Thursday, joining a week where retail earnings told a split story between discount strength and apparel caution. — Directional but not close enough to daily life to make the five this week.
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The Equity Residential and AvalonBay apartment merger is moving toward regulatory review. — A long-term rental pricing story, but no impact on your lease until approval clears — likely months away.
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Daily Stack · Five stories ranked by Real-Life Impact
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