| 📊 Alain’s Holdings — May 29, 2026 | ||||
|---|---|---|---|---|
| Symbol | Name | Price | Change | Change % |
| VOO | Vanguard S&P 500 ETF | 695.49 | +1.58 | +0.23% |
| QQQ | Invesco QQQ Trust | 738.31 | +2.71 | +0.37% |
| XIU.TO | iShares S&P/TSX 60 ETF | 50.86 | +0.21 | +0.41% |
Dell soars 33%. The Dow hits 51,000.
May goes out a bull market legend.
The S&P 500 capped its ninth consecutive winning week — its longest streak since 2023 — as Dell Technologies surged 33% on its historic earnings beat, HP surged 18%, and the AI hardware rally spread across the sector. The Dow crossed 51,000 for the first time. Trump said he would decide on Iran “very soon.”
Major indices — Friday close
S&P 500
7,580.06
▲ +0.22%
9-wk win streak ★Dow Jones
51,032.46
▲ +0.72% (+363 pts)
First ever above 51K ★Nasdaq
26,972.62
▲ +0.26%
Record close ★Russell 2000
~2,940
▲ Positive
Commodities & rates
Historic winning streak: The S&P 500 closed out its ninth consecutive winning week — the longest such run since 2023. It also notched its seventh straight winning day, closing at 7,580.06. The Dow crossed 51,000 for the first time in its history. All three major indices hit fresh all-time intraday highs earlier in the session. May 2026 will go down as one of the most remarkable months in recent market history.
Best day on record · Dell Technologies (DELL) — Q1 FY2027 earnings reaction
Dell surges 33% — its best single day ever.
AI server revenue +757%. The hardware supercycle is real.
Q1 Revenue
$43.8B
+88% YoY · beat by $8B
EPS (non-GAAP)
$4.86
vs $2.96 exp · +64% beat
AI Server Rev
$16.1B
+757% YoY · $24.4B orders
FY27 Guide
$167B
AI target raised to $60B
Trump: “I’ll decide on Iran very soon.” VP JD Vance said the U.S. and Iran are “very close” but “not there yet” on a deal. White House sources told reporters a tentative agreement had been reached but still requires Trump’s approval. Iranian state media denied a deal had been “finalized nor confirmed.” Oil continued to ease — Brent at $92.20 — on cautious deal optimism. The Strait of Hormuz remains closed; a confirmed reopening remains the market’s biggest pending catalyst.
Today’s biggest movers
DELL · Dell Technologies
Dell Technologies
Best single day in Dell’s public market history — shares surged from ~$243 to close near $317, briefly touching $429 intraday. The blowout Q1 beat ($43.8B revenue, $24.4B AI orders) ignited the stock, with analysts at Mizuho, BofA, and Truist all raising targets. COO Jeff Clarke: “The AI opportunity shows no signs of slowing.” Dell is now up more than 158% year-to-date.
HPQ · HP Inc. & SMCI / NTAP
AI hardware read-through
Dell’s blowout triggered a sector-wide AI hardware rally. HP Inc. surged 18% on the read-through to its own server and PC business. Super Micro Computer (SMCI) gained 9%+, Qualcomm rose 3%, and NetApp jumped 17% after its own Q4 beat ($1.95B revenue, +12% YoY). The market is repricing the entire AI infrastructure supply chain upward.
MU / QCOM · Semis continue
Micron & Qualcomm
Micron extended its record-breaking week, adding another 5% to consolidate above the $1 trillion market cap milestone hit Monday. Qualcomm rose 3%, contributing to a broad semiconductor sector rally. The SOX index posted its best week in months as the AI hardware narrative reached a new crescendo with Dell’s numbers.
HOOD · Robinhood Markets
Robinhood
Mizuho raised its price target to $115 (from $110) — implying 36% upside — after Robinhood unveiled its new Agentic Trading platform and Agentic Credit Card, allowing customers to connect third-party AI assistants to execute investing strategies or spending instructions with minimal human involvement. The AI-native brokerage narrative is gaining serious traction on Wall Street.
DOGE stocks · UMAC / RCAT
Drone sector
The Trump administration announced new industrial support policies focused on the drone industry — a pivot from semiconductors. Unusual Machines (UMAC) surged 57%, Red Cat Holdings (RCAT) +33%, AEVEX Corp +31%, and Ondas +23%. The drone policy announcement was the sleeper story of the week, largely overshadowed by Dell and the AI hardware wave.
Anthropic · Claude Opus 4.8
Anthropic (private)
Anthropic launched Claude Opus 4.8 — an upgrade to its flagship model — benchmarking ahead of OpenAI’s GPT-5.5 and Google’s Gemini 3.1 Pro on several AI-centric synthetic evaluations. The launch adds to the week’s AI narrative and reinforces the competitive intensity at the frontier model layer. AI software investors are watching Anthropic’s expected IPO timeline closely.
May 2026 — monthly performance
Month-to-date returns — May 2026 (one of the best months in years)
S&P 500
+5.5%
9 straight winning wks
Nasdaq
+6.8%
Multiple record closes
Dow Jones
+2.5%
First ever close >51K
Russell 2000
+4.1%
Small cap rotation
Three themes to carry into June
01
AI hardware is the market
Dell +33%, HP +18%, Micron +19% earlier this week, Snowflake +36%, Marvell +28% YoY revenue. The AI infrastructure build-out is not slowing — it is accelerating. Dell’s $167B full-year guide and $60B AI server target reset every Wall Street forecast model.
02
Iran is the summer’s wildcard
Trump will decide “very soon.” A confirmed deal = Hormuz reopens, oil falls below $85, inflation eases, bonds rally, the Fed gets room to cut. No deal = oil back to $100+, PCE stays elevated, Warsh holds. One decision changes the entire macro script.
03
June FOMC: the inflection point
PCE at a 3-year high, savings rate at a 4-year low, and oil still elevated. Kevin Warsh’s first meeting will set the tone for the rest of 2026. Does he hold, hike, or cut? The market has priced no cuts — but Iran peace could change that fast.
May 2026 in one paragraph
May 2026 delivered a Dow record above 51,000, a Micron $1 trillion milestone, Nvidia’s most important earnings call in years, the OpenAI and SpaceX IPO filings, a quantum computing watershed moment, the largest utility deal in history, and a Dell quarter that rewrote what a hardware earnings beat looks like. The S&P 500 logged nine straight winning weeks. Whatever June brings — the AI bull market is not done with us yet.
— Market recap analysis, May 29, 2026 · See you in June
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