May 28, 2026 · QQQ/SPY Market Review · 82 headlines
QQQ moved from a 0.03% higher open to a 0.84% gain, while SPY rose from a 0.03% lower open to a 0.62% advance. QQQ led by 0.22 percentage points at the end. Core PCE inflation matched the 3.3% forecast, first-quarter growth missed estimates and durable-goods orders beat forecasts. Fed officials discussed the conditions for a possible rate cut. Reports also covered proposed U.S. stakes in drone companies, shifting U.S.-Iran negotiations, Anthropic financing and Dell's AI-server growth.
Published
April core PCE inflation was 3.3%, matching forecasts and rising from 3.2%. First-quarter GDP growth of 1.6% missed the 2.0% estimate, while durable-goods orders rose 7.9% against a 4.0% forecast. Musalem later said slower growth and lower inflation could permit a rate cut, although inflation risks remained.
Reports said the U.S. government was considering funding domestic drone producers and taking equity stakes in companies including ONDS, UMAC, RCAT and AVAV.
Reports first described a U.S.-Iran memorandum awaiting approval and a proposal for unrestricted Hormuz navigation. Iranian media later denied that an agreement was final, and a missile-launch report followed after the close.
Anthropic raised $65 billion at a $965 billion post-money valuation and was linked to a separate $36 billion private-credit deal for Google TPUs. Dell later reported fiscal first-quarter revenue growth of 88% and AI-server revenue growth of 757%.
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