Bitget UEX Daily Report | Mixed signals from US-Iran negotiations; Federal Reserve inflation alarm sounded; SpaceX IPO triggers liquidity pressure (May 28, 2026)

I. Hot News

Federal Reserve Dynamics

Federal Reserve Officials Strengthen Inflation Upside Risk Warning

• Federal Reserve Governor Lisa Cook stated that she is prepared to raise interest rates if inflation continues to deviate from the target; Vice Chairman Jefferson also warned that soaring energy prices could exacerbate inflationary pressures.
• Both emphasized that current risks lean towards higher inflation rather than a weak labor market. Market Impact: The remarks reinforced market expectations for the Federal Reserve to maintain or tighten policy, which may suppress the performance of risk assets in the short term, but also highlighted the critical weight of energy prices in the monetary policy path.

International Commodities

U.S.-Iran Negotiations Accompanied by Military Actions, Crude Oil Under Pressure

• The U.S. military announced new strikes on Iranian military facilities and intercepted drones, with Trump emphasizing that the U.S. will regulate the opening of the Strait of Hormuz.
• Although there are signs of progress in negotiations, key difficulties remain, and Trump downplayed the possibility of immediate sanctions relief. Market Impact: Crude oil prices fell significantly, reflecting an increase in market expectations for a potential ceasefire and stability in the Strait, but geopolitical uncertainties may still lead to price fluctuations.

Macroeconomic Policy

Wall Street Funds Reserve Liquidity for Mega IPOs

• A Goldman Sachs report shows that passive funds are increasing cash holdings to meet index inclusion demands for trillion-dollar IPOs like SpaceX and OpenAI.
• Historical experience indicates that funds often reduce existing holdings before large IPOs. Market Impact: This may exacerbate selling pressure on some large stocks, and the risk of tightening liquidity in the short term is worth noting, while also injecting long-term funding potential into emerging sectors like aerospace.

II. Market Review

Commodity & Forex Performance

• Spot Gold: -0.13%, at $4,448 per ounce.
• Spot Silver: -0.19%, at $74.4 per ounce.
• WTI Crude Oil: +1.86%, at $90.
• Brent Crude Oil: +1.97%, at $94 per barrel.
• U.S. Dollar Index: +0.07%, at 99.29.

Cryptocurrency Performance

• BTC: -1.95%, at $74,687.
• ETH: -2.59%, at $2,027.
• Total Cryptocurrency Market Cap: -1.5%, at $2.58 trillion.
• Market Liquidation Situation: Total liquidation in 24 hours was $438 million, with long positions liquidated at $389 million.
• Bitget BTC/USDT Liquidation Map: Current BTC price is around $74,500, with a large concentration of high-leverage short liquidation zones above $75,500-$76,500, indicating strong technical rebound and short-squeeze demand in the short term. However, bullish liquidity below has been partially cleaned out; if BTC cannot quickly reclaim $75,000, the market may continue to exhibit weak fluctuations before choosing a direction.

• Spot ETF Net Inflow/Outflow: Yesterday, BTC spot ETF had a net outflow of $206 million, marking eight consecutive days of net outflows.

Market data shows that BTC spot trading volume has dropped by 81% since October 2025, while market sentiment remains generally pessimistic.

U.S. Stock Index Performance

• Dow Jones: Up 0.36%, at 50,644.28 points, continuing to set a new closing high.
• S&P 500: Slightly up 0.02%, at 7,520.36 points, barely maintaining historical highs.
• Nasdaq: Up 0.07%, at 26,674.73 points, with technology weights supporting a narrow increase.

Tech Giants Dynamics

• NVIDIA (NVDA): Down 1.05%, at $212.60, despite sustained high demand for AI chips, short-term profit-taking pressure is evident, compounded by market concerns over valuation bubbles.
• Google-A (GOOGL): Slightly down 0.01%, at $388.83, with search and cloud businesses maintaining robust performance, and AI integration progress providing long-term support.
• Apple (AAPL): Up 0.82%, at $310.85, signs of recovery in consumer electronics demand are emerging, with expectations of hardware upgrade cycles boosting confidence.
• Microsoft (MSFT): Down 0.81%, at $418.57, with ongoing advancements in cloud services and AI, but short-term corrections are influenced by market rotations.
• Amazon (AMZN): Up 2.47%, at $271.85, significantly boosted by large AWS contracts, with strong demand for cloud infrastructure.
• Meta (META): Up 3.74%, at a high level, with the launch of AI subscription services gaining market recognition, and a clearer monetization path.
• Tesla (TSLA): Up 1.56%, at $440.36, with ongoing support from potential synergies with SpaceX, and the commercial aerospace concept gaining traction.

Core Reason: The rotation between aerospace and AI concepts is evident, with some stocks boosted by better-than-expected earnings, large contracts, and favorable strategic partnerships, showing resilience among tech-weighted stocks amid macro uncertainties.

Sector Movement Observation

Aerospace/Space Concept Strongly Up

• Representative Stocks: Intuitive Machines up 15%, AST SpaceMobile up 8%, Astrotech skyrocketed 459%.
• Driving Factors: The approaching SpaceX IPO combined with lunar development news catalyzed optimism about the long-term prospects of commercial aerospace.

Semiconductors/Storage Partially Strengthened

• Representative Stock: Micron Technology up 3.63%.
• Driving Factors: Sustained AI demand, with market capitalization surpassing Berkshire.

III. In-Depth Analysis of U.S. Stocks

1. Snowflake (SNOW) - AWS Large Contract and AI Layout Event Overview: Snowflake announced a commitment to purchase $6 billion in services from AWS over five years, primarily for Graviton chips and AI GPU infrastructure; concurrently, it reported Q1 fiscal year 2027 earnings of $1.39 billion (up 33% year-over-year), with adjusted EPS of $0.39, both significantly exceeding expectations, and acquired AI startup Natoma to strengthen Agentic AI capabilities. Boosted by this, the stock price surged over 35% in after-hours trading. Market Interpretation: Institutions generally view this move as not only consolidating AWS's leading position in cloud infrastructure but also marking Snowflake's deep binding and competitiveness in the AI data platform field. Analysts believe that as enterprise AI workloads accelerate their migration, the synergy between cloud and data platforms will drive Snowflake's remaining performance obligations to continue high growth, while the penetration rate of AI-native features is expected to accelerate revenue realization. Investment Insight: Strong demand for AI infrastructure, with strategic synergies between cloud service providers and data platforms becoming a new industry paradigm, but caution is needed regarding expansion risks under high valuations and potential profit margin pressures from intensified competition.

2. Marvell Technology (MRVL) - Custom Chip Guidance Significantly Upgraded Event Overview: Marvell's Q1 earnings report showed revenue and EPS exceeding expectations, with strong growth in the data center business driving overall performance; the company significantly raised its full-year guidance and predicted that custom chip revenue will exceed $10 billion in fiscal year 2029 (some views pointing to over $10 billion target). Market Interpretation: Analysts believe that as cloud vendors seek to reduce reliance on NVIDIA, Marvell is well-positioned with its custom AI silicon and interconnect solutions. Its collaboration with NVIDIA and the rollout of multiple generations of XPU projects further validate the vast space in the customized AI infrastructure market, with a clear long-term growth path. Investment Insight: The trend of diversification in AI hardware is clear, and beneficiaries like Marvell have long-term potential worth tracking, but close attention is needed on supply chain fluctuations, geopolitical risks, and changes in competitive landscape affecting gross margins.

3. Meta Platforms (META) - Launch of AI Subscription Service Event Overview: Meta launched its first paid subscription service for the Meta AI chatbot (monthly fee of $7.99-$19.99), aimed at partially offsetting massive AI investment costs, and the stock price briefly surged over 4% after the announcement. This move is a significant attempt by Meta on the path to AI monetization. Market Interpretation: Institutions view this as a key step for Meta to shift from heavy AI investment to sustainable monetization, helping to improve long-term profitability and diversify reliance on advertising revenue. Coupled with its user base advantage on social platforms, the subscription model is expected to create stable cash flow while providing more funding support for AI technology iterations. Investment Insight: The acceleration of AI application commercialization is reshaping the valuation framework of tech giants, and investors may focus on the replication potential of similar models on other platforms.

4. Amazon (AMZN) - Deepening Cooperation between AWS and Snowflake Event Overview: Amazon announced that Snowflake committed to purchasing $6 billion in AWS services over five years (including Graviton and AI chips), combined with its own robust growth in Q1 cloud business, further validating demand strength with large AWS contracts. Market Interpretation: Wall Street believes this cooperation strengthens AWS's leadership position in the enterprise AI cloud market, especially in the custom silicon field, which helps to withstand competitive pressures. Analysts have raised Amazon's long-term growth expectations for its cloud business, viewing it as an important reflection of AI capital expenditure returns. Investment Insight: Cloud infrastructure remains a core growth engine for tech giants; attention should be paid to the supporting role of AWS ecosystem expansion on Amazon's overall valuation, while also assessing the impact of high capital expenditures on short-term free cash flow.

5. Intuitive Machines (LUNR) - Continued Enthusiasm for Commercial Aerospace Event Overview: As an important related stock to the SpaceX IPO concept, Intuitive Machines' stock price surged 15% on the day, benefiting from lunar development news and overall catalysis in the commercial aerospace sector. Market Interpretation: Institutions are optimistic that under the backdrop of deepening cooperation between NASA and private enterprises, Intuitive Machines' leading advantage in lunar landers and related services will be further amplified as the SpaceX IPO approaches, with a broad long-term commercial aerospace market space. Investment Insight: The aerospace concept has high elasticity under the trend of AI + space economy integration, suitable for investors with a higher risk appetite, but caution is needed regarding fluctuations caused by policy changes and execution risks.

IV. Cryptocurrency Project Dynamics

1. The monthly payment volume of crypto-related debit and credit cards has increased by about 230% compared to last year, with a cumulative transaction volume of $7.8 billion this month, reflecting the rapid popularization of crypto payment products.

2. Musk is exploring the possibility of merging Tesla with SpaceX. A Tesla employee stated that there has been a long-standing expectation within the company that such a transaction will eventually occur. The overlap between the two companies in power infrastructure and AI computing is increasing, driving deeper cooperation. This potential merger would also create one of the largest corporate Bitcoin treasuries in the world. According to public disclosures and blockchain treasury tracking data, Tesla currently holds 11,509 bitcoins, while SpaceX holds 18,712 bitcoins.

3. As the U.S. midterm elections approach, the cryptocurrency industry's massive political funding is shifting to support the Republican Party. The super PAC Fairshake and its affiliates remain a major force in crypto election influence, having invested tens of millions of dollars in multiple congressional campaigns and achieving victories.

4. Vitalik Buterin shared the latest progress on his self-developed large language model (LLM) setup, noting that the intersection of Ethereum infrastructure and AI is continuously expanding. Vitalik elaborated on the role of formal verification in enhancing code security, believing that AI-assisted formal verification can achieve "end-to-end" security proofs for code, applicable to core components like STARK, consensus algorithms, and EVM.

5. Google security engineer Michele Spagnuolo was arrested for allegedly using Google's internal search data to place bets on Polymarket.

6. The U.S. government has transferred approximately $1.9 million in cryptocurrency assets and $2.656 million in DAI from the seized funds of FTX Alameda to Coinbase. The assets involved include UNI, RNDR, SAND, MASK, AXS, and APE.

7. Nasdaq-listed company Alpha Compute, focused on AI application confidential computing infrastructure, has completed the acquisition of the mobile chain game platform GAMEE, with a transaction valuation of approximately $18 million.

V. Today's Market Calendar

Data Release Schedule

|-------|----|------------------|------| | 20:30 | U.S. | April Core PCE Price Index Year-on-Year/Month-on-Month | ⭐⭐⭐⭐ | | 20:30 | U.S. | Initial Jobless Claims for the Week Ending May 23 | ⭐⭐⭐ | | 20:30 | U.S. | Q1 Real GDP Annualized Quarter-on-Quarter Revision | ⭐⭐⭐ |

Important Event Forecast

• Meta Shareholders Meeting: May 28 at 1:00 AM (UTC+8) - Focus on the latest developments in AI strategy.
• FOMC Officials' Speeches: New York Fed President Williams and several officials will speak - Key interpretations of the monetary policy path.

May 28 (Thursday)

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

May 29 (Friday)

1. U.S. May Chicago PMI to be announced.
2. 2028 FOMC voter, Kansas Fed President Schmid will speak.
3. Federal Reserve Governor Bowman will speak.

Core Highlights of U.S. Stocks This Week:
Focusing on the critical window for a U.S.-Iran ceasefire, core PCE inflation data, and the tail end of Q1 earnings reports from Marvell, Salesforce, etc., market volatility is expected to intensify.

Institutional Views:

Several investment bank analysts believe that although the U.S.-Iran negotiations have released some easing signals that help lower oil prices and benefit inflation, the hawkish statements from Federal Reserve officials remind the market that energy price fluctuations remain a major risk. While the S&P 500 continues to set new highs, analysts predict a target of around 7,620 points by the end of 2026, indicating moderate optimism; if geopolitical conflicts prolong, inflationary pressures may force the Federal Reserve to delay easing. The technology and aerospace sectors still exhibit resilience driven by IPOs and AI, but risks related to liquidity management and valuation corrections should be monitored. Overall, the market is balancing macro data and geopolitical events, and attention should be paid to how PCE data guides interest rate expectations.

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