6:53 AM · 29 May 2026

Morning wrap: Oil declines, stock indices rise further (29.05.2026)

US index futures are edging higher in early trading today, while European equity futures are also posting modest gains, with the DAX (DE40) futures contract up 0.3%. EUR/USD is slightly lower, while Bitcoin is down 0.3% and continues to struggle to regain bullish momentum following the recent sharp sell-off. Oil prices have slipped below $92 per barrel, easing concerns over inflationary pressures and a further rise in bond yields.

Costco Wholesale reported fiscal Q3 earnings per share (EPS) of $4.93, slightly above the $4.91 consensus estimate, while revenue came in at $70.53 billion, beating analyst expectations of $69.62 billion. Comparable company-wide sales excluding gasoline prices and foreign exchange effects increased 6.6% year-over-year, marginally below market expectations of 6.7%.

US Treasury Secretary Scott Bessent emphasized that the United States has imposed the toughest sanctions on Russia of any country, particularly targeting Russian oil exports. He also stated that the US remains the global leader in artificial intelligence, is working closely with AI companies to balance innovation and regulatory safety, and expects the global oil market to remain well supplied, noting that nearly 2,000 ships are currently waiting to leave the Gulf region.

Dell Technologies shares surged nearly 40% in after-hours trading after the company raised its full-year guidance and reported first-quarter results that beat expectations on both revenue and earnings. Meanwhile, Costco Wholesale reported fiscal third-quarter earnings per share (EPS) of $4.93, slightly above the $4.91 consensus estimate, while revenue came in at $70.53 billion, exceeding analyst expectations of $69.62 billion. Comparable company-wide sales excluding gasoline prices and foreign exchange effects increased 6.6% year-over-year, marginally below market expectations of 6.7%.

Shares of American Eagle Outfitters fell 11% after comparable sales at its American Eagle brand declined 2% year-over-year in the first quarter.

Anthropic raised $65b in series H at $965b post-money valuation, reaching the new high ahead of the planned IPO in 2026.

In Japan, housing starts fell 11.4% year-over-year, a result that came in significantly below market expectations of a 14.8% increase. Meanwhile, Japan’s consumer confidence index rose to 33.6, beating the forecast of 32.4, while German import prices increased by 1.2% month-over-month, slightly above expectations of 1.1%.

(Summary in progress)

Source: xStation5

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