Daily Trader: Core PCE, SNOW Earnings & DELL Preview #shorts

Added: 2026-06-02

[00:00:00]It's Thursday, May 28th, and markets are tracking economic data, earnings, and AI demand. Hey everyone, it's Alex Coffee, and this is the Daily Trader on Schwab Network. First, the latest round of economic data. We got a look at the core PCE price index for April, which was up 3.3%.

[00:00:17]That was actually in line with market expectations. However, it is still elevated versus the Fed's target of 2%.

[00:00:23]We also got a look at the weekly initial jobless claims, which continue to hold steady with the latest reading showing a slight uptick to 215,000.

[00:00:31]It's a mostly benign level when looking for labor market weakness. Next, Snowflake earnings. Shares surged after the company raised its full-year product revenue outlook and announced a $6 billion cloud deal with Amazon. The company also highlighted strong demand for both its core data platform and new AI tools, helping drive one of its biggest stock moves in years. Finally, a preview of Dell's earnings. Dell is expected to report strong top-line growth driven by a sharp surge in AI server sales and broad demand across its business. But supply constraints could limit upside to its AI server targets, even as investors look for potential guidance increases on the back of continued AI momentum. To recap, economic data provided a boost, Snowflake is riding AI-driven demand, and Dell's report will put the spotlight back on AI infrastructure. Tune in right here on Schwab Network for the latest market headlines.