Key Takeaways
- May’s PCE inflation gauge releases Thursday and may exceed April’s 3.8% annual increase
- Micron Technology delivers quarterly results Wednesday, boasting a $1 trillion valuation and shares surging more than 800% year-to-date
- Weekly performance: S&P 500 up 1.08%, Nasdaq advanced 2.48%, Dow Jones rose 0.14%
- SpaceX completed the biggest IPO ever recorded, securing $85.7 billion with a valuation exceeding $2 trillion
- Bitcoin edged up 0.46% to $64,139, underperforming the technology-driven equity surge
Equity markets wrapped up last week on a positive note, fueled by major technology sector developments, a groundbreaking public offering, and renewed optimism surrounding international trade dynamics. Here’s a breakdown of recent events and critical items on the radar for the coming days.
Major Indexes Close With Weekly Gains
All three primary U.S. benchmarks finished the week in positive territory. The S&P 500 advanced 1.08%, settling at 7,500.58. The Nasdaq posted a robust 2.48% gain to reach 30,406.19, supported by robust appetite for technology and growth-oriented equities. The Dow Jones Industrial Average recorded a modest 0.14% increase, closing at 51,564.70.
Investor confidence received a boost from a preliminary peace agreement between the United States and Iran. The diplomatic breakthrough increased prospects for reopened maritime traffic through the Strait of Hormuz, driving crude oil prices downward and encouraging equity purchases.
The benchmark 10-year U.S. Treasury yield finished the week at 4.455%. This metric carries significance for growth-oriented stocks, which typically experience pressure when financing costs climb.
The Federal Reserve, now led by recently appointed Chair Kevin Warsh, maintained its current interest rate policy. However, policymakers indicated additional rate increases remain possible should inflation persist at elevated levels. The central bank has kept rates unchanged since December.
Bitcoin posted a modest 0.46% gain, closing at $64,139.86. Gold declined 1.72% to $4,172.90. Digital assets lagged the broader market advance, which centered primarily on technology and large-capitalization growth stocks.
SpaceX Achieves Unprecedented Public Market Debut
The week’s headline development was SpaceX’s transition to public markets. Elon Musk’s aerospace and satellite enterprise generated $85.7 billion through its initial public offering, establishing a new record for the largest IPO ever. The listing assigned SpaceX a market value surpassing $2 trillion.
The public debut redirected investor focus toward major technology and innovation-focused enterprises.
SpaceX has also reportedly entered an agreement to purchase AI company Cursor for $60 billion, a strategic maneuver designed to strengthen its artificial intelligence operations.
Nvidia revealed intentions to offer at least $20 billion in investment-grade corporate bonds for general business purposes. This represents one of the firm’s most substantial debt issuances since the artificial intelligence expansion commenced.
Fox Corporation disclosed a $22 billion transaction to acquire Roku, the streaming technology provider. The acquisition broadens Fox’s digital footprint as legacy media organizations pursue enhanced streaming and advertising infrastructure.
Yum! Brands completed the sale of Pizza Hut to LongRange Capital and Yum China Holdings for $2.7 billion. Management indicated the divestiture enables greater concentration on its other primary restaurant brands.
Critical Events on the Calendar
Micron Technology unveils its fiscal third-quarter financial performance on Wednesday. The company’s market capitalization has reached $1 trillion while its stock has skyrocketed more than 800% during the current year. Management disclosed gross profit margins exceeding 68% in its latest quarterly report, prompting speculation about whether the memory semiconductor cycle is approaching its zenith.
The PCE inflation indicator for May arrives Thursday. April’s figure registered 3.8% on a year-over-year basis, marking the highest level in three years. The May measurement could post an even larger increase based on other recent consumer price metrics. The Federal Reserve monitors the PCE closely as its primary inflation benchmark.
Additional corporate earnings releases this week feature Carnival Corp., FedEx, BlackBerry, and Darden Restaurants. BlackBerry’s stock price has more than doubled in 2026, driven by its expanding collaboration with Nvidia and increasing demand for its QNX operating system deployed in advanced driver assistance technologies.
