| 📊 Alain’s Holdings — May 26, 2026 | ||||
|---|---|---|---|---|
| Symbol | Name | Price | Change | Change % |
| VOO | Vanguard S&P 500 ETF | 690.01 | +4.46 | +0.65% |
| QQQ | Invesco QQQ Trust | 730.28 | +12.74 | +1.78% |
| XIU.TO | iShares S&P/TSX 60 ETF | 50.89 | +0.11 | +0.22% |
Post-Memorial Day · S&P 500 & Nasdaq at fresh record closes
Micron joins the
trillion-dollar club
The first day back from Memorial Day delivered two new all-time index records and a semiconductor milestone — Micron’s +19% surge, powered by UBS tripling its price target to $1,625, pushed the memory giant past $1 trillion in market cap for the first time.
S&P 500
7,519.12
▲ +0.61% ★ Record
Nasdaq
26,656.18
▲ +1.19% ★ Record
Russell 2000
2,895
▲ +1.70% leads
All four indices
S&P 500
7,519.12
▲ +0.61%
Record close ★Dow Jones
50,461.68
▼ −0.23% (−118 pts)
Energy dragNasdaq
26,656.18
▲ +1.19%
Record close ★Russell 2000
2,895
▲ +1.70%
Leads all indicesCommodities & rates
Breaking · Micron Technology (MU) — $1 trillion milestone
UBS triples price target to $1,625 — the highest on Wall Street
UBS analyst Timothy Arcuri raised his price target from $535 to $1,625 — more than triple, and the highest among 46 analysts covering the stock. The thesis: long-term supply agreements that lock in volumes and partially fix prices end the boom-bust cycle that historically kept memory stocks at deep discounts. AI has structurally changed the memory market. Shares have tripled year-to-date. Trump also praised Micron’s “hundreds of billions” in U.S. investment at a Friday rally.
Today’s biggest movers
MU · Micron Technology
Micron Technology
Crossed $1 trillion in market cap for the first time — joining Nvidia and Samsung in the memory/$1T club. Shares have now tripled year-to-date. The UBS upgrade argues that AI-driven long-term supply agreements with partially fixed pricing fundamentally change how the market should value Micron — moving it from a cyclical commodity discount toward a “normal” semiconductor multiple.
MSGS · Madison Square Garden Sports
MSG Sports / NY Knicks
Hit a fresh all-time high — now up more than 40% in 2026 — after the New York Knicks swept the Cleveland Cavaliers to reach the NBA Finals. Their first Finals appearance in decades will face either the Oklahoma City Thunder or San Antonio Spurs. Shares had also jumped in February on a potential Rangers spin-off. Sport meets market: the Knicks effect is real.
UAL / CCL · Travel names
Airlines & cruise lines
United Airlines and Carnival Cruise rallied as WTI fell 2.3% on continued Iran deal optimism. Trump said negotiations were “moving along well” while cautioning that military action remained on standby. Oil below $95 is a material margin relief for the entire travel sector — still absorbing the 56% fuel cost spike from March.
IBM / UNH / CSCO · Dow laggards
Energy & Dow components
22 of 30 Dow components closed red, pulling the blue-chip index lower even as the broader market rallied. IBM −2.73%, UnitedHealth −1.68%, Cisco −1.43%. Intel was downgraded to market perform by Northland Capital, citing slower data center spending in 2027. Oil’s 2.3% drop hit energy stocks — a classic inflation-relief rotation out of oil producers.
Three themes to carry forward
01
Memory is the new Nvidia
Micron’s $1T milestone follows Samsung crossing the same mark on May 6. AI has structurally reformed the memory market — long-term supply deals end the boom-bust cycle. May 2026 is memory’s watershed month.
02
Oil below $95 changes everything
WTI at $94 eases inflation fears, gives the Fed more flexibility, and lifts consumer sentiment. The Strait of Hormuz is still closed — a confirmed deal would be the biggest macro catalyst of the year, sending yields and oil sharply lower.
03
Dow vs. rest of market
The Dow fell while the S&P, Nasdaq, and Russell all rose. 22 of 30 Dow components closed red — a clear sign that the rotation out of industrials and into AI-era tech and small caps continues to gain momentum.
What to watch this week
Today’s takeaway
Micron’s trillion-dollar moment is not just a stock story — it’s a signal that AI has permanently repriced the entire memory market. Long-term supply deals, partially fixed pricing, and insatiable HBM demand have turned a famously cyclical chip into something closer to a compounding infrastructure business. The market is still figuring out what that’s worth. UBS thinks it’s $1.8 trillion. Today, it crossed $1 trillion for the first time.
— Market recap analysis, May 26, 2026
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