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Market Headlines 👀 

• US Consumer Board consumer confidence data came in at 102 for the month of May up from 97.5 in April.

• Nvidia (NVDA) continues surging post earnings up for the 3rd straight day and once again hitting new all time highs.

• PayPal (PYPL) announces they will build out its own advertising business using their data.

• Alphabet (GOOGL) a CNBC report shows Google is interested in acquiring HubSpot, this after a similar report came in April from Reuters. Shares of HubSpot rallied 9% on the news today.

• Apple (AAPL) continues to see recovery in iPhone China sales, 52% YoY increase for the month of April following a uptick in March as well.

• xAI Elon Musk’s AI startup raises $6b in capital to continue its efforts to challenge OpenAI.

• Hess (HES) shareholders approve $53b deal with Chevron.

Earnings 💸

• Cava (CAVA)

  • EPS: $0.12 beats (exp. $0.05)

  • Revenue: $259m beats (exp. $246m)

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S&P 500 Heatmap 🔥 

Recap Around the Street 🧠

Q2 Earnings snapshot provided below with key metrics and data. Full report source Factset can be found → here.

Market Preview 🎞️ 

• Wednesday, May 29th: MBA mortgage applications; Feds Beige book

• Wednesday earnings: Salesforce (CRM), UiPath(PATH), C3AI(AI) and Okta (TGT)

• Thursday, May 30th: Weekly jobless claims; Q1 second GDP estimate; Pending home sales

• Thursday earnings: Costco (COST), Ulta Beauty (ULTA), Best Buys (BBY, MongoDb (MDB), Marvell Technologies (MRVL), Zscaler (ZS)and Sentinel One (S)

• Friday, May 31st: Personal income and spending (PCE) data

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That’s all for today, folks! We’ll be back around the same time tomorrow with a curated list of important news, economic data and market highlights. 

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