May 28, 2026

Markets:

Stock futures declined early Thursday, weighed in part by a rebound in oil prices, as traders looked ahead to the release of a key inflation reading.

West Texas Intermediate crude oil futures rose 1.8% to top $90 a barrel. The action came after Reuters reported, citing a U.S. official, that the U.S. military conducted new strikes in Iran, targeting a military site. Brent futures were also up nearly 2% at $96.07.

Shares of Snowflake soared 38% in premarket trading after the cloud-based data platform provider issued stronger than expected guidance for its fiscal second quarter, in addition to a first-quarter earnings and revenue beat. The company also inked a plan to spend $6 billion on Amazon Web Services over five years.

The moves came after a decline in oil prices pushed the blue-chip Dow to a new intraday and closing record on Wednesday. Crude oil prices fell in Wednesday’s session after Secretary of State Marco Rubio said during a White House Cabinet meeting that talks with Iran have made some progress, adding that the administration prefers “the negotiated diplomatic route and we’re going to give it every chance to succeed.” However, President Donald Trump said that he will not allow Iran to control the key Strait of Hormuz as part of a deal.

Investors are awaiting the release of April’s personal consumption expenditure price index reading, due out at 8:30 a.m. ET on Thursday. The index, which is the Federal Reserve’s preferred gauge of inflation, is especially important now that Kevin Warsh has taken the helm as Fed chair.

Portfolio:

We head into the day positioned in TE and FIVN.

Today remains all about flow and sector rotation. We have seen some incredible runners throughout the month, and the key now becomes identifying where fresh capital rotates next while certain overheated areas cool off and consolidate.

One major thing to watch: barring anything dramatic over the next 48 hours, the SPX appears on pace for its 9th straight green week.

If that happens, next week the market could attempt something it has not accomplished since 1985 – 10 consecutive green weeks.

We continue to believe the “summer of summers” is building, and the next 18 months could provide truly life changing opportunity across this market cycle.

That said, expect volatility. Expect swings. Anticipate rotations.

Do not over leverage. Do not emotionally attach yourself to any single trade. Stay patient and allow the market to bring the setups to us.

Some monster opportunities are brewing beneath the surface right now.