Morning Preview: May 26, 2026

Early Look

Tuesday, May 26, 2026

After ending last week higher, US futures are looking at another strong stock market open as investors return from the three day Memorial Day holiday weekend. Futures got a boost this weekend on reports the United States and Iran have agreed to a deal in principle to wind down the war in the Middle East and end the Iranian blockade of the Strait of Hormuz, a Senior U.S. official said Sunday, although some of the most sensitive issues have yet to be resolved. There were no immediate public statements from Iran about a deal being reached, and Iranian officials over the last 24 hours offered some conflicting depictions of what a potential agreement might contain. The U.S. official said Sunday that a deal had not yet been signed and was still subject to final approval from President Trump and Iran’s supreme leader, which could take days. Meanwhile, US and Israeli jets struck Iranian vessels in the Strait of Hormuz and other targets, hours after President Donald Trump had suggested negotiations with Tehran over an interim deal were progressing.

For last week, the S&P rose 0.88%, the Dow added 2.31%, the Nasdaq gained 0.45%. The S&P 500 hit an all-time high and made it an 8th straight week of gains (longest since a nine-week streak ended in December 2023 and topping 7,500 for the first time) while Russell 2000 outperformed and the Dow Jones Industrial Average hit an all-time closing high in a week dominated by strength in Technology. Earnigns season is mostly behind us, but there are still several notable companies reporting this week in the retail and technology sectors. In Asian markets, The Nikkei Index declined -162 points to 64,996, the Shanghai Index dipped -7 points to 4,145, and the Hang Seng Index slipped -6 points to 25,599. In Europe, the German DAX is down -142 points to 25,246, while the FTSE 100 is up 65 points to 10,532. The economic calendar will be back end heavy in the holiday shortened week with the Conference Board’s consumer confidence reading today, following the University of Michigan’s sentiment release Friday. The Fed’s preferred inflation gauge, the Personal Consumption Expenditures index, will come out on Thursday, along with GDP data.

• The Dow Jones Industrial Average rose 294.29 points, or 0.59%, to 50,579.95
• The Nasdaq Composite gained 50.87 points, or 0.19%, to 26,343.97
• The Russell 2000 Index advanced 25.76 points, or 0.91% to 2,869.21

• 9:00 AM ET                  Monthly Home Price index M/M for March
• 9:00 AM ET                  CaseShiller 20 City Index for March
• 10:00 AM ET                Consumer Confidence for May
• 10:30 AM ET                Dallas Fed Manufacturing for May
• 1:00 PM ET US Treasury to sell $69B in 2-year notes

• Earnings After the Close: API APPS BBAR BOX MOD OOMA QFIN SMTC SQM TRNS ZS

• The ECB should raise interest rates in June, even if ongoing peace talks with Iran yield a deal, as the conflict has been far longer than projected and high energy prices are spilling into the broader economy, board member Isabel Schnabel said.

• The U.S. FDA’s new, looser regulation of new vapes and nicotine pouches will potentially unleash hundreds more such products on the market in the coming weeks and months, according to three current and former Trump administration officials – Reuters reports.

• BlackSky technology Inc (BKSY) said may offer up to $250M of common stock through sales agents.
• Navios Maritime Partners LP (NMM) said may offer up to $500M of securities.
• Northern Oil & Gas (NOG) announced that it has agreed to purchase an undivided 25% interest in the Light-Oil Duvernay Assets owned and operated by Parallax Energy Operating Inc. The Assets are comprised of an undivided non-operated interest which includes, net to NOG, 4,000 Boe per day of production and 75,000 acres in the Light-Oil Duvernay Shale at an initial unadjusted purchase price of CA$350 million.
• Pentagon spars with SpaceX over Starlink price hike during Iran war: Reuters reports. The disagreement over Starlink’s use on LUCAS suicide drones, a cheap U.S. model comparable to Iran’s Shahed that can circle over a target area before diving to detonate on impact, is part of increasing tensions between SpaceX and the Pentagon over Starlink pricing in recent months, according to interviews with five people familiar with the matter.

• China’s Xiaomi Corp posted a 43% slump in Q1 net profit, as its smartphone business was pressured by high memory chip costs; reported 6.1 billion yuan ($899 million) adjusted net profit for the January-March period, which compared with the average analyst estimate of 6.4 billion yuan.