Bitget UEX Daily Report | Three major stock indices rise to new highs; US-Iran negotiations continue to advance; earnings season enters a critical window (May 27, 2026)

I. Hot News

Federal Reserve Dynamics Federal Reserve officials emphasize data dependence, focusing on the impact of geopolitical developments on policy

• Several Federal Reserve officials recently stated that they will continue to be guided by data, maintaining a stable current interest rate range, but there are still divergences regarding the inflation path.
• Some officials pointed out that if the situation in the Middle East further eases, a decline in energy prices will help alleviate inflationary pressures.
• The market expects the Federal Reserve to remain cautious in the short term.

This stance provides the market with expectations of policy continuity, combined with signals of geopolitical easing, which is expected to support the performance of risk assets, but inflation data remains a key variable.

International Commodities US-Iran negotiations boost market confidence, oil prices fluctuate

• Trump stated that negotiations are progressing smoothly, and the US and Iran are close to reaching a framework agreement, focusing on the reopening of the Strait of Hormuz and the liberalization of oil sales.
• Despite sporadic reports of conflict, overall optimism prevails, leading to a decline in WTI and Brent crude oil prices.
• Investors are paying attention to whether the details of the agreement can be quickly implemented.

The positive progress in negotiations alleviates concerns about energy supply disruptions, providing short-term benefits to global growth expectations, but geopolitical risks have not been completely eliminated, and oil prices remain volatile.

Macroeconomic Policy Market focuses on earnings season and macro data releases

• This week, several technology and consumer giants will announce earnings, with investors focusing on AI capital expenditures and consumer resilience.
• Data such as the US Consumer Confidence Index is about to be released, with geopolitical factors and economic indicators jointly influencing market sentiment.
• Regulatory authorities remain cautious about the integration of cryptocurrency and traditional finance.

Earnings performance will become an important catalyst for the short-term market direction; if results exceed expectations, it will further consolidate the current rebound.

II. Market Review

Commodity & Forex Performance

• Spot Gold: +0.3%, at $4,520 per ounce.
• Spot Silver: +0.27%, at $77.20 per ounce.
• WTI Crude Oil: -1.16%, at $92.76 per barrel.
• Brent Crude Oil: -0.95%, at $95.85 per barrel.
• US Dollar Index: -0.05%, at 99.09.

Cryptocurrency Performance

• BTC: -1.01%, price around $76,000.
• ETH: -0.91%, price around $2,100.
• Total Cryptocurrency Market Cap: -0.6%, at $2.62 trillion.
• Market Liquidation Situation: Total liquidation of $303 million in 24 hours, with long positions liquidated at $199 million.
• Bitget BTC/USDT Liquidation Map: Current BTC price is around $75,906, with significant liquidation pressure from high-leverage short positions clustered above $76,500-$78,500, indicating a clear upward momentum to sweep shorts in the short term. If BTC breaks above $77,000 and holds, it may trigger further short liquidations, accelerating the price towards the $79,000-$80,000 range.

• Spot ETF Net Inflow/Outflow: BTC spot ETF saw a net outflow of $141 million yesterday, marking seven consecutive days of net outflows.
• BTC Inflow/Outflow: Spot saw a net outflow of $59 million yesterday, with contract net outflows of $359 million.

US Stock Index Performance

• Dow Jones: Closed down 0.23%, at 50,461.68 points, initially strengthened in the morning under geopolitical easing but saw profit-taking in the afternoon, maintaining overall high-level fluctuations.
• S&P 500: Closed up 0.61%, at 7,519.12 points, setting a new closing high, supported by a rotation between defensive sectors and technology stocks.
• Nasdaq: Closed up 1.19%, at 26,656.18 points, driven strongly by technology and semiconductor sectors, with the AI theme continuing to dominate market gains.

Tech Giants Dynamics

• Apple (AAPL): Closed at $308.33, down 0.16%, attracting some funds due to defensive attributes, but overall rotation in the tech sector led to a slight pullback.
• Microsoft (MSFT): Closed at $416.03, down 0.61%, with AI and cloud business providing long-term support, but short-term profit-taking pressure is evident.
• Nvidia (NVDA): Closed at $214.86, down 0.22%, with the AI theme continuing to dominate the market, but high valuations triggered profit-taking and fund rotation.
• Amazon (AMZN): Closed at $265.29, down 0.39%, with solid fundamentals in e-commerce and AWS cloud business, and expectations for AI infrastructure investment providing a buffer.
• Meta (META): Closed at $612.34, up 0.34%, with good expectations for advertising revenue, and AI content recommendation optimization continuously boosting investor confidence.
• Alphabet (Google, GOOGL): Closed at $382.97, down 1.21%, affected by Russell index adjustments reinforcing pure growth positioning, with long-term potential recognized in AI search and cloud business.
• Tesla (TSLA): Closed at $433.59, up 1.78%, with a rebound in EV delivery volumes combined with progress in energy business and Robotaxi attracting market attention.

Overall, there were mixed gains and losses, with AI remaining the core driving theme, but overvalued stocks face profit-taking pressure, and funds are showing clear differentiation between defensive attributes and high-growth themes.

Sector Movement Observation

Semiconductor Sector shows mixed performance

• Representative Stocks: Qualcomm (QCOM) surged 11.60%, closing at $238.16; AMD rose in the range of 4%-8%, recording strong single-day gains multiple times recently.
• Driving Factors: Demand for AI PCs, data centers, and automotive chips continues to exceed expectations, with Qualcomm and Stellantis expanding their Snapdragon collaboration and AI data center custom silicon projects becoming direct catalysts. Additionally, Russell index adjustments further highlight the attractiveness of growth-oriented stocks. The differentiation within the sector mainly stems from differences in valuation and fund rotation—while the AI theme remains the main line, some mature process companies face intensified competition and demand slowdown pressures.
• Market Impact: This significantly boosts confidence in the semiconductor supply chain in the short term, but stocks like Qualcomm need to be cautious of profit-taking risks after large surges. In the medium to long term, under the AI supercycle, demand for HBM memory and advanced processes is expected to support overall sector upward movement, with global semiconductor sales expected to grow by over 26% year-on-year by 2026. This trend resonates with the improvement in risk appetite brought about by the easing of US-Iran negotiations, providing additional support for technology growth stocks.

Defensive and Europe-related Sectors show moderate strength

• Representative Stocks: European defense stocks such as Rheinmetall and BAE Systems performed steadily; US healthcare and consumer defensive sectors recorded moderate gains.
• Driving Factors: Optimistic signals from the ongoing US-Iran negotiations accelerate the "post-war trade" theme. Easing energy risks prompt funds to rotate from pure safe-haven assets to sectors potentially benefiting from reconstruction, stability, and European security spending. The trend of increasing military spending as a percentage of GDP in several European countries remains unchanged, combined with increased US defense exports, forming a driving force for the sector.
• Market Impact: This rotation reflects asset reallocation against the backdrop of risk appetite recovery, helping to reduce overall market volatility and broaden the breadth of the rise. However, if the details of the peace talks fall short of expectations or experience setbacks, defensive sectors may regain safe-haven support. Investors may focus on undervalued European assets and opportunities for cross-configuration in medical innovation, especially in the dual environment of geopolitical easing and AI capital expenditures.

III. In-depth Analysis of US Stocks

1. Qualcomm (QCOM) - ByteDance's large order drives breakthrough in AI chips Event Overview: Qualcomm's stock surged 11.60% on May 26, closing at $238.16, reaching a recent high. The company reached a multi-million unit supply agreement for AI data center chips with ByteDance, while expanding its Snapdragon automotive chip collaboration with Stellantis, with AI PC chip demand continuing to exceed expectations. Market Interpretation: Institutions believe Qualcomm is accelerating its diversification from mobile chips to AI edge computing and data centers. Morgan Stanley pointed out that the ByteDance order validates its competitiveness in the AI custom silicon field, and the increase in AI PC penetration will drive a new growth cycle. However, facing competition from Intel and MediaTek, long-term market share defense still needs attention. UBS raised its target price, emphasizing enhanced pricing power and optimized revenue structure. Investment Insight: Short-term focus on capturing elastic opportunities from the launch of the AI PC cycle and large customer orders; long-term view as a core configuration for AI edge computing, but need to dynamically track supply chain stability and competitive landscape evolution.

2. Dell (DELL) - AI server orders and earnings season catalyst Event Overview: Dell has recently led in gains, with strong AI server orders, and Q4 FY2026 AI-related server revenue significantly increasing year-on-year, accelerating the transformation of its data center business. This week, earnings reports are about to be released, and the market is highly focused on its AI server backlog. Market Interpretation: Investment banks are optimistic about Dell's solid share in the AI server supply chain. Goldman Sachs analyzes that as hyperscaler capital expenditures accelerate, Dell's "data center + endpoint" dual-drive logic is clear, with significant room for gross margin improvement. UBS warns that if macro IT spending experiences a phase decline, it may pose short-term pressure, but the overall long-cycle trend of AI infrastructure remains unchanged. Investment Insight: Short-term focus on this week's earnings report to validate AI server orders; long-term view as a direct beneficiary of AI infrastructure, capturing the data center construction cycle while balancing valuation and performance realization rhythm.

3. Micron (MU) - HBM capacity fully sold out Event Overview: Micron's HBM capacity is fully sold out until the end of 2026, with long-term supply agreements signed until 2027. The company's Q2 revenue and gross margin have significantly increased, with its stock repeatedly reaching new highs and surpassing a market capitalization of $1 trillion. Market Interpretation: Investment banks are unanimously optimistic about its HBM pricing power and supply-demand mismatch advantages. UBS significantly raised its target price to $1,625, believing that the AI-driven memory shortage will continue until 2028, with Micron transforming from a cyclical company to a strategic AI infrastructure supplier, expecting EPS to reach a high in 2027. However, institutions remind that if AI capital expenditure growth slows, price correction risks need to be monitored. Investment Insight: Short-term tracking of HBM4/HBM4E capacity expansion and pricing trends; long-term view as a core holding in the AI memory sector, capturing high-growth windows under tight supply-demand balance, and setting reasonable profit-taking to cope with valuation fluctuations.

4. Broadcom (AVGO) - Strong performance in AI custom ASICs and network chips Event Overview: Broadcom's AI custom ASIC chip market share is steadily increasing with major clients, and the synergy effects with VMware are becoming evident, with demand for network chips and server connectors strengthening simultaneously. Market Interpretation: Institutions believe Broadcom has deep technological barriers in AI network infrastructure and custom chips. UBS expects high double-digit revenue growth for FY2026, with outstanding free cash flow. JPMorgan emphasizes that its diversified product portfolio (semiconductors + software) enhances resilience, but supply chain concentration and geopolitical friction remain long-term risk points. Investment Insight: Short-term focus on new order implementation and earnings report catalysts; long-term view as a stable growth component in AI full-stack infrastructure, suitable as a core ballast for technology growth portfolios.

5. AMD - Expansion of data center GPU market share Event Overview: Demand for AMD's MI series GPUs and AI PC processors is strong, with significant year-on-year growth in data center revenue, and Russell index adjustments further reinforce growth attributes. Market Interpretation: Investment banks are optimistic about AMD's differentiated pursuit of NVIDIA in the GPU field and penetration of EPYC processors. Goldman Sachs points out that the AI PC wave and data center capital expenditures resonance are expected to drive gross margin improvement. However, facing NVIDIA's high-end advantages and supply chain bottlenecks, AMD needs to continuously prove its cost-effectiveness and ecosystem maturity. Investment Insight: Short-term focus on new product launches, order progress, and earnings report validation; long-term view to capture opportunities for market share expansion in AI computing while diversifying allocations to hedge against technological iteration risks.

IV. Cryptocurrency Project Dynamics

1. After 11 years of silence, someone sent 107 BTC ($8.3 million) to a burn address. Yesterday, five wallets sent a total of 107 BTC to the burn address, most of which had been inactive for 11 years.

2. According to official news, FTX announced that the expected registration date for the next round of compensation is set for June 16, 2026, for users holding approved FTX claims and equity. The next round of compensation is expected to begin on July 31, 2026. The next payment for preferred shareholders will also be made on the same day, with the registration date being June 16. Approved NFT customer rights claim holders can start the NFT distribution process on June 30, 2026.

3. Yesterday (Eastern Time May 26), the HYPE spot ETF saw a total net inflow of $20.45 million in a single day. The HYPE spot ETF with the highest net inflow yesterday was the Bitwise Hyperliquid ETF (BHYP), with a net inflow of $19.04 million, bringing its historical total net inflow to $55.00 million.

4. TD Cowen stated that as the political environment in the US continues to deteriorate, the likelihood of the CLARITY Act passing this year is decreasing. Jaret Seiberg, Managing Director of TD Cowen's Washington Research Group, pointed out that recent developments involving President Trump make it more difficult for Democrats to support the bill unless it includes conflict of interest provisions.

5. US President Trump posted on social media, publicly supporting his appointed Commodity Futures Trading Commission (CFTC) Chairman Michael Selig's efforts to expand jurisdiction over prediction markets, calling the issue "critical."

6. Asset management firm Strive added 1,109 bitcoins, with a total transaction amount of approximately $85.4 million, at a price of about $76,988 per coin. The company disclosed that its current bitcoin holdings have increased to 16,500 coins, with a return rate of 11.0% for this quarter and 23.4% year-to-date, with a bitcoin amplification ratio of 45.2%.

V. Today's Market Calendar

Data Release Schedule

|------|----|---------|------| | Focus Morning | US | Consumer Confidence Index | ⭐⭐⭐⭐ |

Important Event Preview
May 28 (Thursday)

1. Important US earnings reports: Dell (DELL), Costco (COST) to be released after hours ★★★★★;
2. Q1 2026 GDP revision, initial jobless claims, and durable goods orders to be released simultaneously.
3. April Core PCE (the inflation indicator most closely watched by the Federal Reserve) ★★★★★

May 29 (Friday)

1. US May Chicago PMI to be released.
2. 2028 FOMC voting member and Kansas City Fed President George to speak.
3. Federal Reserve Governor Bowman to speak.

This week's core focus for US stocks:
Surrounding the key window for US-Iran ceasefire, core PCE inflation data, and the tail end of Q1 earnings season for companies like Marvell and Salesforce, market volatility is expected to increase.

Institutional Views: Well-known investment bank analysts believe that the ongoing progress of US-Iran negotiations injects optimism into the market. Although sporadic conflicts still exist, the prospect of reopening the Strait of Hormuz helps to ease oil prices and alleviate inflationary pressures, providing space for Federal Reserve policy. Institutions like J.P. Morgan point out that the collective rise in the three major stock index futures reflects a recovery in risk appetite, with AI capital expenditures and earnings exceeding expectations becoming major supports. Goldman Sachs emphasizes that under the fermentation of the "post-war trade" theme, defensive, healthcare, and European assets are worth paying attention to. In the cryptocurrency market, geopolitical easing boosts sentiment, but ETF outflows need to be monitored. Overall, in the short term, the market will be caught between negotiation progress, macro data, and earnings, and investors are advised to flexibly allocate and balance growth with valuation matching.

Disclaimer: The above content is organized by AI search, with human verification for publication, and should not be considered as any investment advice. Data in the text may inevitably contain deviations; please refer to real-time market data.