As a holiday-shortened week approaches on Wall Street, market participants are shifting their focus toward critical inflation metrics and highly anticipated corporate earnings from the technology arena. According to reports from Livemint, the spotlight centers on the Federal Reserve's favored inflation metric — the core PCE price index. The core PCE price index report for Thursday is expected at 3.3%, which will influence rate decisions under new Fed Chair Kevin Warsh. Market estimates suggest the PCE price index advanced 0.5% in April, largely reflecting continued gains in gasoline prices, with the core PCE price index projected to have risen 0.3% month over month. Investors will also heavily scrutinize additional indicators, including April's new home sales data, the updated first-quarter GDP reading, and personal income and expenditure metrics for April. A series of Federal Reserve speeches will further shape market expectations and influence monetary policy views throughout the week.
The corporate earnings slate features quarterly results from major firms such as Marvell Technology (MRVL), Salesforce (CRM), Costco (COST), Dell Technologies (DELL), and Snowflake (SNOW). As reported by Livemint, market players are eager for clues regarding consumer demand and the scale of artificial intelligence expenditures. According to the latest Goldman Sachs Hedge Fund Trend Monitor, international fund managers aggressively boosted their allocations toward AI-centric corporations entering the second quarter of 2026, primarily benefiting AI infrastructure and chip manufacturing enterprises. Dell's earnings call will be closely watched for commentary on AI infrastructure trends following Nvidia's closely followed results last week. Meta's annual meeting and Nvidia's conference appearances will be closely watched for updates on AI investments and capital returns, providing additional insights into the AI spending landscape. Zscaler (ZS.US) reports quarter results on Tuesday with Wall Street expecting revenue of $836 million, driven by its Zero Trust and AI-security strategy. Salesforce (CRM.US) reports quarter on May 27, with investors focused on whether Agentforce's rapid adoption — now at $800M+ ARR with 29K deals closed.
The US stock market closed higher on Friday on optimism about the potential US-Iran peace deal. According to Livemint, on Friday, the S&P 500 rose 27.75 points, or 0.4%, to 7,473.47. The Dow Jones Industrial Average rose 294.04 points, or 0.6%, to 50,579.70. The Nasdaq Composite rose 50.87 points, or 0.2%, to 26,343.97. For the week, the S&P 500 is up 64.97 points, or 0.9%, the Dow is up 1,053.53 points, or 2.1%, and the Nasdaq is up 118.83 points, or 0.5%. US stock markets will be closed on Monday for Memorial Day, with the S&P 500 notching an eighth straight weekly gain, its longest winning streak since December 2023. The most actively traded stocks last week included NVIDIA (NVDA.US), Intel (INTC.US), Nokia Oyj (NOK.US), and Rocket Lab (RKLB.US).
Investors remain highly sensitive to geopolitical updates out of the Middle East given persisting Iran-US frictions. As reported by Livemint, US President Donald Trump stated on Sunday that Washington intends to avoid rushing into a deal with Iran to achieve a comprehensive resolution regarding West Asia crisis. He affirmed that the American naval blockade on Iran's ports will remain firmly active until a certified, formal pact is finalized. Trump described ongoing diplomatic communications as organized and productive.
According to Livemint, the US Economic Calendar shows reports on S&P Case-Shiller home price index (20 cities) and consumer confidence for May on May 26 (Tuesday). On May 28 (Thursday), separate reports on initial jobless claims for the week ended May 23, durable goods orders for April, and new home sales for April will be released. May 29 (Friday) will feature separate reports on revised gross domestic product (GDP) for Q1, personal income and spending for April, PCE index April, and Chicago Business Barometer (PMI) May. These economic releases will influence Federal Reserve rate expectations and Treasury yields, with the core PCE inflation data being particularly crucial for monetary policy decisions under the new Fed leadership.
