Public Markets 3 Hours

Last updated: May 28, 2026, 5:31 PM ET

Retail & Consumer Staples

Sales growth accelerated at Hormel Foods as the company posted higher fiscal second-quarter revenue and achieved its sixth consecutive quarter of organic top-line expansion, while Burlington Stores lifted its annual outlook after logging stronger profit and sales in its fiscal first quarter amid sustained consumer focus on value pricing. Best Buy reported rising sales in its first quarter, driven by robust demand for gaming, computers and cellphones, and Costco's third-quarter profit climbed as the warehouse club continued drawing inflation-sensitive shoppers with its membership model. Despite core brand weakness, American Eagle Outfitters posted a 10% revenue increase to $1.20 billion, supported by strong performance at its Aerie lingerie brand.

Energy & Commodities

Oil futures settled higher as traders cautiously responded to reports of a draft U.S.-Iran agreement extending the cease-fire and reopening negotiations, though prices jumped earlier after the U.S. shot down four Iranian attack drones that threatened diplomatic breakthroughs. U.S. natural gas futures extended gains with the July contract leading advances, while Chevron's chief warned that crude prices could spike over the summer as the Strait of Hormuz blockade removes up to 13 million barrels daily from global markets, depleting strategic reserves.

Technology & M&A

Dell Technologies raised its fiscal year outlook after sales surged 88%, now projecting $165 billion to $169 billion in revenue compared with previous guidance of $138 billion to $142 billion, though Elon Musk's tweet cast doubt on SpaceX's claimed three-year data center agreement with Anthropic, suggesting it lasts only 180 days. Anthropic secured $65 billion in funding that valued the AI startup at $900 billion, surpassing OpenAI's $730 billion valuation in the intensifying competition for artificial intelligence dominance.

Financial Services & Markets

Canadian fintech platforms Wealthsimple and Questrade are preparing to offer pre-IPO access to retail investors as startup funding rounds accelerate, while Pimco's leveraged finance head cautioned that high-yield debt financing data centers is splitting into two distinct markets as clear winners and losers emerge among issuers. Kalshi Inc. launched a new index tracking Republican and Democratic power shifts in U.S. politics, marking the prediction market platform's first product expansion beyond event contracts.

Corporate Leadership

Clorox Chief Executive Linda Rendle will step down after more than two decades at the company, citing health reasons, creating a leadership transition at the household products manufacturer during ongoing strategic repositioning efforts.