{"id":62498,"date":"2026-05-29T10:38:29","date_gmt":"2026-05-29T14:38:29","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/dell-surges-33-as-chicago-pmi-crushes-estimates-us-iran-blockade-tightens\/62498\/"},"modified":"2026-05-29T10:38:29","modified_gmt":"2026-05-29T14:38:29","slug":"dell-surges-33-as-chicago-pmi-crushes-estimates-us-iran-blockade-tightens","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/dell-surges-33-as-chicago-pmi-crushes-estimates-us-iran-blockade-tightens\/62498\/","title":{"rendered":"Dell Surges 33% as Chicago PMI Crushes Estimates; US-Iran Blockade Tightens"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Dell Technologies (<a href=\"\/stock\/DELL\">DELL<\/a>) stock skyrocketed 33% at the opening bell<\/strong>, marking its largest single-session gain on record following an earnings &quot;triple play&quot; and surging AI server demand.<\/li>\n<li><strong>The US MNI Chicago Business Index surged to 62.7 in May<\/strong>, obliterating the consensus estimate of 50.3 and signaling a rapid shift from contraction to a manufacturing boom.<\/li>\n<li><strong>CENTCOM reported that 115 commercial vessels have been redirected<\/strong> as the U.S. continues to enforce a strict naval blockade against Iran, significantly impacting global trade routes.<\/li>\n<li><strong>Coinbase Global (<a href=\"\/stock\/COIN\">COIN<\/a>) and Kalshi launched the first regulated perpetual futures in the U.S. market<\/strong>, providing American investors with legal access to a multi-trillion dollar global derivatives asset class.<\/li>\n<li><strong>TotalEnergies (<a href=\"\/stock\/TTE\">TTE<\/a>) CEO Patrick Pouyann\u00e9 warned that oil market imbalances could persist until 2027<\/strong>, citing massive stockpile draws and the ongoing geopolitical crisis in the Middle East.<\/li>\n<\/ul>\n<h2>Corporate Highlights: Dell\u2019s AI-Driven Surge and UBS Cuts<\/h2>\n<p><strong>Dell Technologies (<a href=\"\/stock\/DELL\">DELL<\/a>)<\/strong> powered the technology sector today, with shares jumping <strong>33%<\/strong> to trade at <strong>$420.98<\/strong> after the company reported first-quarter earnings and revenue that significantly topped Wall Street estimates. The hardware giant also hiked its full-year guidance, citing an &quot;unprecedented&quot; boom in AI server demand that has pushed the stock up <strong>235%<\/strong> so far in 2026. This rally provided a halo effect for peers, with <strong>Hewlett Packard Enterprise (<a href=\"\/stock\/HPE\">HPE<\/a>)<\/strong> and <strong>Super Micro Computer (<a href=\"\/stock\/SMCI\">SMCI<\/a>)<\/strong> gaining <strong>9.9%<\/strong> and <strong>12.2%<\/strong> respectively.<\/p>\n<p>In the financial sector, <strong>UBS Group (<a href=\"\/stock\/UBS\">UBS<\/a>)<\/strong> is reportedly shedding hundreds of additional jobs as it continues to integrate operations following its acquisition of <strong>Credit Suisse<\/strong>. The cuts come as the bank seeks to streamline its global workforce and meet aggressive cost-saving targets. Meanwhile, major U.S. indices opened slightly higher, with the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a><\/strong> up <strong>0.16%<\/strong> and the <strong>Nasdaq<\/strong> rising <strong>0.13%<\/strong>, as investors weighed blockbuster corporate earnings against mounting geopolitical risks.<\/p>\n<h2>Economic Data: Chicago PMI Signals Manufacturing Boom<\/h2>\n<p>The <strong>MNI Chicago Business Barometer<\/strong> (Chicago PMI) delivered a massive surprise on Friday, hitting <strong>62.7<\/strong> for May. This reading was well above the <strong>50.3<\/strong> estimate and represented a dramatic turnaround from April\u2019s contractionary reading of <strong>49.2<\/strong>. The index is now at its highest level since early 2022, driven by a surge in new orders and production.<\/p>\n<p>Federal Reserve official <strong>Paulson<\/strong> commented on the data, noting that while current Fed policies are effectively reducing high inflation, the strength of the economy may necessitate a continued path toward <strong>tighter monetary policy<\/strong>. Paulson highlighted that inflation remains excessive due to several persistent factors, though the central bank remains committed to its current restrictive stance to stabilize prices.<\/p>\n<h2>Geopolitics: Iran Blockade and Strait of Hormuz Tensions<\/h2>\n<p>U.S. Central Command (<strong>CENTCOM<\/strong>) confirmed that <strong>115 commercial vessels<\/strong> have been redirected as part of the ongoing naval blockade against Iran. The blockade, which began in mid-April, has effectively halted commerce at major Iranian ports, contributing to global supply chain disruptions. Iranian Foreign Minister <strong>Badr Albusaidi<\/strong> reportedly held a &quot;productive&quot; call with Omani officials to discuss the future administration of the <strong>Strait of Hormuz<\/strong>, emphasizing Iran&#39;s sovereign responsibilities under international law.<\/p>\n<p>The geopolitical tension continues to weigh on energy markets. <strong>TotalEnergies (<a href=\"\/stock\/TTE\">TTE<\/a>)<\/strong> CEO <strong>Patrick Pouyann\u00e9<\/strong> stated that the global oil imbalance could last through <strong>2027<\/strong> as the market struggles to replenish depleted stockpiles. While <strong>Brent crude<\/strong> prices eased slightly to <strong>$92.10<\/strong> a barrel on news of a potential 60-day ceasefire renewal, prices remain significantly elevated compared to pre-conflict levels.<\/p>\n<h2>Crypto and Derivatives: A New Era for U.S. Markets<\/h2>\n<p>In a landmark move for the digital asset industry, <strong>Coinbase Global (<a href=\"\/stock\/COIN\">COIN<\/a>)<\/strong> announced it has become the first U.S.-regulated <strong>Futures Commission Merchant (FCM)<\/strong> to offer access to global crypto derivatives. This allows U.S. institutional clients to trade global crypto perpetual futures and options through a compliant domestic channel. Simultaneously, <strong>Kalshi<\/strong> launched the first-ever regulated perpetual futures in America, marking a significant expansion from its traditional event-based contracts.<\/p>\n<p>These launches aim to bring a portion of the <strong>$90 trillion<\/strong> global perpetuals market onshore. By providing a regulated alternative to offshore exchanges, both companies are targeting experienced traders who previously had no legal way to access these high-liquidity instruments within the United States.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Dell Technologies (DELL) stock skyrocketed 33% at the opening bell, marking its largest single-session gain on record following 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