Stock market today: Live updates
Traders work at the New York Stock Exchange on May 28, 2026.
NYSE
Dow Jones Industrial Average futures fell on Tuesday, with traders digesting a move to fresh all-time highs while monitoring the latest U.S.-Iran developments as well as moves in major tech names.
Futures tied to the blue-chip index lost 256 points, or 0.5%. S&P 500 futures slipped 0.3%, while Nasdaq 100 futures shed 0.2%.
Alphabet shares were down more than 2% after the company said it would raise $80 billion from stock sales to fund its artificial intelligence buildout. That includes a $10 billion investment from Berkshire Hathaway.
The stock initially popped in after-hours trading before moving lower. Adam Crisafulli of Vital Knowledge said the announcement is “ultimately negative.” He noted, “If the greatest business model in the history of capitalism (in terms of scale, growth, margins, and cash flow) can’t fund AI from its own internal operations, then who possibly can?”
However, tech losses were kept in check as Nvidia climbed more than 1% in the premarket. Shares of Hewlett Packard Enterprise also surged 28% after the technology company issued a rosy outlook for the current quarter and raised its guidance for the full year, trouncing the Street’s estimates. HPE’s second-quarter results also marked its biggest earnings beat since 2018.
Marvell Technology also rallied 19% after Nvidia CEO Jensen Huang said the semiconductor company could become the next trillion-dollar company.
“When you take a computing problem, and you disaggregate it into a lot of parts, and you distribute it across the entire data center, what’s necessary is connectivity,” Huang said. “That’s the reason why Marvel is so essential.”
The major averages hit record highs on Monday, as Nvidia led gains in tech. Enthusiasm over the artificial intelligence trade has resulted in tremendous performance in the equity markets over the past few weeks. But Katie Stockton, founder of Fairlead Strategies, says that there are no indications that the equity market rally is over.
“We’ve had nine consecutive up weeks for the S&P 500, and naturally that does reflect positive momentum. Momentum is positive now, short term, intermediate term, long term, and we saw a series of flag pattern breakouts, or essentially sharp run ups followed by brief consolidation phases that are then resolved higher,” Stockton said on CNBC’s “Closing Bell” on Monday afternoon. She noted that Dell was a recent example.
“These run-ups are really explosive. Unfortunately, that also means they tend to end in dramatic fashion, but we don’t have indications yet, any confirmed sell signals from our overbought oversold metrics to suggest that this is over.”
Oil prices also rose on Monday after Iranian state media reported that the country’s negotiators will stop exchanging messages with the U.S. via intermediaries. Iran’s state-affiliated news outlet, Tasnim, also said that the country will move to fully block the Strait of Hormuz. The report added that “no dialogue will take place” until Israel fully stops all attacks in both Lebanon and Gaza and fully withdraws from occupied areas in Lebanon.
In response, President Donald Trump told CNBC’s Eamon Javers in a phone interview that he “couldn’t care less” if peace negotiations with Iran are over. In a later Truth Social post, the president said that he “had a very productive call” with Israeli Prime Minister Benjamin Netanyahu. In a separate post, Trump added that talks with Iran are “continuing, at a rapid pace.”
