Fed’s Favorite Inflation Gauge Comes in Hot, Snowflake Beats AI Doomsday Narrative
Market update for May 28, 2026.
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In today’s episode, Zaid covers:
April PCE inflation hitting 3.8%, its hottest reading since 2023
Meta charging for AI and rolls out paid subscriptions for Instagram, Facebook, and WhatsApp
Salesforce beat on earnings but the stock barely moves
Snowflake pops on a blowout quarter and a $6B Amazon deal
Fun fact: just 10 companies now make up almost 40% of the entire S&P 500
The skinny
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