June Just Got Loud 🎤

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GET TICKETSMORE INFOMORE PROMOTIONSGet ready for an unforgettable lineup of legendary live music performances at Celebrity Theatre featuring three iconic artists, each bringing their own unforgettable sound and story to the stage.

Kenny G, the greatest-selling instrumental musician of the modern era and one of the best-selling artists of all time, continues to captivate audiences worldwide with more than 75 million albums sold and over 1.5 billion global streams. The Grammy Award-winning saxophonist delivers an incredible evening filled with timeless hits, engaging storytelling, humor, and the signature sound that made him a global phenomenon.

Blues-rock legend Kenny Wayne Shepherd celebrates the 30th anniversary of the groundbreaking album that launched his career, “Ledbetter Heights.” From guitar prodigy to blues master, Shepherd returns to the music that started it all with a special performance of the entire classic album, along with a second set featuring fan favorites and highlights from his remarkable 30-year career.

Progressive rock fans won’t want to miss Jon Anderson, the legendary voice of YES, performing alongside The Band Geeks in a spectacular celebration of classic rock history. Featuring iconic songs like “Roundabout,” “I’ve Seen All Good People,” and selections from Anderson’s newest album “True,” this incredible performance pairs one of rock’s most recognizable voices with the musicianship of The Band Geeks, known worldwide for their stunning recreations of legendary rock music.

Three separate performances. Three legendary artists. Three unforgettable nights of live music.

Get your tickets to any of these shows today!

June Just Got Loud 🎤

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Soccer, Margaritas, and Mexican Favorites!

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Soccer, Margaritas, and Mexican Favorites!

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Inside MAGA’s fake gay motorcycle war

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Why the worst get on top

Why the worst get on top The Atlantic · David Frum Opinion: Trump’s choice of Bill Pulte for acting director of national intelligence is both terrifying and predictable. 

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100 elections to watch this month

100 elections to watch this month boltsmag.org · Daniel Nichanian We’re following primaries and runoffs across 19 states, plus Washington, D.C., so buckle up for the busiest election month of 2026 yet. 

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Roll for governor

Roll for governor COYOTE Media Collective · Soleil Ho A D&D class guide to California’s clown car election. 

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Inside MAGA's fake gay motorcycle war

Inside MAGA’s fake gay motorcycle war The Bulwark · Will Sommer Dunces of Anarchy. 

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It used to feel good to be Norwegian

It used to feel good to be Norwegian thedial.world · Ola Morris Innset The Epstein files shattered that. 

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The visual messaging behind that Trump portrait

The visual messaging behind that Trump portrait HuffPost · Katherine Speller It’s not “trust me” but “take me seriously.” 

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Millions of bees have thrived under a New York cemetery for more than a century

Millions of bees have thrived under a New York cemetery for more than a century WIRED · Simone Valesini A walk in East Lawn Cemetery led to Cornell researchers discovering an underground colony of bees with an estimated population of 5.5 million. 

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What in the world is Man Cereal?

What in the world is Man Cereal? Salon · Joy Saha You’ve heard of Girl Dinner and Boy Kibble. Now, get ready for what we can only hope is the final boss of gendered eating: Man Cereal. 

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My Uncle Horror

My Uncle Horror darkertimes.com · Aigner Loren Wilson What happens when you grow up believing that the events of classic horror movies really happened? 

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Inside the making of 'The Odyssey'

Inside the making of ‘The Odyssey’ GQ · Zach Baron How Hollywood’s three leading-est men helped Christopher Nolan create his most epic and ambitious blockbuster. 

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Who’s going No. 1 in the Draft?

The Lineup: Pregame Edition

Tuesday, June 02

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Top 2026 MLB Draft prospects

Welcome to The Pregame Lineup, a weekday newsletter that gets you up to speed on everything you need to know for today’s games, while catching you up on fun and interesting stories you might have missed. Today’s edition is brought to you by David Adler

The 2026 Draft is a little over a month away, and we’ve got questions. 

Who will go No. 1 overall? Who should go No. 1 overall? Which top Draft prospect is the biggest wild card? And a lot more. 

So we asked the experts. MLB Pipeline’s Jonathan Mayo surveyed the baseball scouting industry — from scouting directors to assistant general managers to national crosscheckers — for their takes on the upcoming MLB Draft, which kicks off on July 11. 

Here’s a sample of their responses to three of the biggest questions:

Who will the White Sox take at No. 1? 

This one had an overwhelming majority answer: UCLA shortstop Roch Cholowsky, who is MLB Pipeline’s No. 1-ranked Draft prospect. Fifteen of the 21 Draft experts surveyed predicted that the White Sox will take Cholowsky with the first overall pick of the 2026 Draft.

One scouting executive said of Cholowsky: “Roch has separated himself as a near ready Major League shortstop. He bet on himself going to college, and it paid off. I’d be shocked if by the end of 2027, he’s not in a big league uniform.”

Another scouting director said: “He is the best player … don’t overthink it.”

Who’s the actual best Draft prospect?  

This is a different question than who will actually go No. 1 overall. Now, it turns out the Draft experts’ consensus was the same (Cholowsky), but one other player also got a bunch of votes. That was Georgia Tech catcher Vahn Lackey, who MLB Pipeline has ranked as the No. 3 Draft prospect. A 20-year-old catcher with an all-around skill set offers a lot of upside for a team.

One scouting director said of Lackey: “He’s the best player with an impact ceiling who stays in the middle of the field. Athlete, tools, durable body, performer with plus makeup.”

Who is the biggest wild card in this year’s Draft class? 

The polarizing player who got the most votes here (nine) was Alabama shortstop Justin Lebron, who is MLB Pipeline’s No. 9 Draft prospect. A year ago, Lebron was the frontrunner to be the top overall pick in this Draft, but he was leapfrogged by Cholowsky. But if you’ve been watching Lebron in the NCAA tournament, you can see that the tools are there.

Also receiving votes were Florida high school shortstop Jacob Lombard (No. 4) and Coastal Carolina right-hander Cameron Flukey (No. 11).

See the rest of the Draft survey results here >>

MLB COMMEMORATES LOU GEHRIG DAY

Lou Gehrig Day 2026

Today is Lou Gehrig Day, when the baseball world honors Gehrig’s legacy by uniting around the fight to find a cure for ALS, honoring those lost to the disease that took Gehrig’s life and supporting their families. 

This is the sixth annual Lou Gehrig Day. For today’s games, all players, managers and coaches will wear custom “4” decals — designed to honor Gehrig’s retired number — alongside commemorative red “4-ALS” Franklin wristbands. Here’s more on how MLB teams are observing Lou Gehrig Day at the ballpark

There is also a special charitable auction underway at MLB.com/LouGehrigDayAuctionto benefit The Sean M. Healey & AMG Center for ALS at Mass General. The auction features commemorative one-of-a-kind autographed Lou Gehrig Day bats — one for each MLB team — with each player selected by MLB.comresearcher extraordinaire Sarah Langs, who is battling ALS.


Gehrig passed away from ALS on this day in 1941, a little over two years after he played his final game. MLB.com’s Sweeney Murti reflects on how the Iron Horse battled ALS late in his career — and how Gehrig’s incredible month of August in 1938, in the throes of the disease, just might have been the Yankees legend’s greatest feat.   

GAMES OF THE NIGHT

Here are three games to watch tonight. For info on how to watch every game, go to MLB.com/Watch

Guardians at Yankees (7:05 p.m. ET, MLB.TV

Lou Gehrig Day at Yankee Stadium is, of course, even more special. And we have a showdown of two contending teams, as Cam Schlittler leads the Bronx Bombers — who are tied with the Rays for the most wins in the American League — into their matchup against the AL Central-leading Guardians.

Blue Jays at Braves (7:15 p.m. ET, MLB.TV) 

The Braves boast MLB’s best record entering their first series of June against the reigning AL pennant winners. And their superstar, Ronald Acuña Jr., is on a tear — Acuña is on a four-game home run streak, with five blasts total in his last four games.

Mets at Mariners (9:40 p.m. ET, MLB.TV)


The Mariners are the hottest team in the league right now. They’re on a seven-game winning streak after a walk-off win over the Mets yesterday, they’re back over .500 at 32-29, and they’ve seized first place in the AL West. Logan Gilbert is on the mound tonight coming off back-to-back scoreless starts. 

CHAMPS HAVE FIXED THEIR BIGGEST FLAWS

Max Muncy, Andy Pages, Tanner Scott and Will Klein

As if the Dodgers weren’t good enough already … Now the reigning World Series champs look like they’ve fixed their two biggest flaws. 

Through 60 games in 2026, the Dodgers are off to an even better start than they were in either of their last two championship seasons: 

  • 2026: 38-22 (.633), +126 run differential
  • 2025: 36-24 (.600), +79 run differential
  • 2024: 37-23 (.617), +82 run differential

Thomas Harrigan explains why here

Last season, L.A.’s biggest weaknesses were its defense and bullpen. This season, the team has turned both of those areas into strengths. 

The Dodgers have been one of the best defensive teams in baseball so far in 2026 — largely due to Max Muncy’s turnaround at third base, plus incremental improvements in the corner outfield with Kyle Tucker’s addition. 

And they’ve also had one of baseball’s best bullpens — even without closer Edwin Díaz, who’s recovering from elbow surgery. The Dodgers have Tanner Scott’s resurgence and the emergence of Will Klein, Edgardo Henriquez and Kyle Hurt to thank for that.  

AROUND THE LEAGUE

We’ve got a milestone for one Cy Young winner and exciting progress for another in today’s news and notes from around the Majors.

• Congrats to Jacob deGrom, who notched the 100th win of his career last night. Now, you might be thinking the same thing as us: “Wait … Jacob deGrom didn’t have 100 wins yet?”Weird but true. But the two-time Cy Young winner and one of the most dominant pitchers of his era finally checked off that milestone. He’s the 16th active pitcher to reach 100 career wins.

• Speaking of Cy Young winners: Tarik Skubal might be ready for his first Minor League rehab start after throwing a four-inning simulated game yesterday. The Tigers ace is looking more like himself with each session he throws as he comes back from the “Skubal Scope” procedure to remove a loose body from his left elbow. He looks like he’s just about ready to start pitching in real games.

• There’s a lot of pressure to perform with one of the greatest hitters of all time in the crowd … we’re talking about Pablo Sanchez of Backyard Baseball computer game fame, of course. But the Brewers were up to the task. With a giant Pablo Sanchez mascot looming in the stands in Milwaukee yesterday, the Brew Crew’s biggest bats — Christian Yelich, Jackson Chourio and Brice Turang — all erupted in a 16-2 blowout win over the Giants. 

CITY CONNECT AIR MAX 1’S JUST DROPPED

Nike's City Connect Air Max 1's for 2026

This year’s City Connect 2.0 jerseys are sick. Now just wait ’til you see the shoes. 

For the second straight year, Nike has created a collection of City Connect sneakers — one for each uniform that debuted this season.

The 2026 City Connect sneakers are modeled on the Air Max 1, one of Nike’s most iconic shoes. The Air Max 1 has inspired countless descendants, but thanks to its historical significance and timeless look, its appeal has spanned the generations. So take it from our resident MLB.com sneakerhead, Bryan Horowitz: The City Connect AM1’s are perfect for fans of their respective teams, but they’re also sharp enough for anyone to just wear them as a standalone shoe.

Four of the shoes have dropped so far: the Braves, Brewers, Pirates and Reds versions. Check them all out here >>  

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Stories That Inspire

Stories That Inspire

Every day offers a new chance to grow—so explore stories filled with real-life inspiration, practical wisdom, and ideas that fuel your next step forward. Discover uplifting content curated to support your personal growth, and join thousands of readers who visit our site daily for motivation, insight, and a positive boost.

“The right path rarely announces itself — it simply asks you to keep walking, one step at a time.”

There are days when progress feels invisible and the road ahead feels uncertain. But uncertainty is not the same as being lost. Every step you have taken — even the ones that felt small or sideways — has been part of your path. Trust that the direction you are moving is meaningful, even when you cannot see the full picture yet. You are still going.MORE INSPIRATION 

You’re always one blessing away from a brighter day… and a bigger life. May these stories, affirmations, prayers, and insights lift your spirits and inspire you to lift others.

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It’s a fight to the finish in L.A.’s wild mayoral primary

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It’s a fight to the finish in L.A.’s wild mayoral primaryMayor Karen Bass, councilwoman Nithya Raman and reality TV’s Spencer Pratt are locked in a three-way battle for the two top slots on Tuesday.NewsiconNews for you, Peter“Shut your a— until you have done something” – Mark Cuban recalls when a former Pisto…Cuban had a unique way to shut Pistons owner Bill Davidson up in a boardroom meeting.Basketball Network Data centers are taking over the suburbs. This man wants to sell his entire neighborhood to one.Mital Gandhi, a resident of The Regency development in Ashburn, Virginia, has proposed a deal to sell his community to dat…Business Insider                               Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushi…Brockovich’s new data center tracking project has collected nearly 4,000 complaints nationwide.Fortune Police investigate videos of men mysteriously emerging from New York City sewersVideos of men mysteriously emerging from New York City sewers have drawn the attention of police, who insist there’s &quot…NBC News Val Kilmer’s “Conspiracy” director calls actor the ‘worst human being I’ve ever known’Adam Marcus directed Val Kilmer, who died in 2025, in the 2008 action thriller.Entertainment Weekly Black Crowes singer Chris Robinson booed after mocking Florida fans’ ‘USA’ chant“For those of you f–king booing us, some of us are not afraid.”Page Six How PepsiCo Is Achieving AffordabilitySpeaking at the Wall Street Journal Global Food Forum in Chicago, PepsiCo’s Mike Del Pozzo shares the strategies hi…WSJ ‘Rucking’ Is The Walking Trend You Need To Try. Here’s Why.Bonus: You probably have the necessary gear in your closet right now.HuffPost Life Economist Mark Zandi says Trump has a week to strike Iran deal before US faces a ‘real problem’Oil prices could soar again absent a peace deal with Iran, Zandi said. Crude saw a fresh spike on Monday as US-Iran talks …Business Insider Sydney Sweeney Told ‘Euphoria’ Creator Not to Cut Nude Scenes From Season 3 When He Cons…“Euphoria” creator Sam Levinson says he considered shooting Season 3 without any nudity for Cassie, the char…Variety More like thisToday's gameToday’s gamePlay Blocked 10Slide and stack your way to puzzle-solving satisfaction.Trending now iconTrending now1. Jared Verse2. Bring Me the Beauties3. Alabama Softball4. Baltimore Orioles5. Boston Red Sox6. Russia-Ukraine War7. Iran Conflict8. Anthropic Files for IPO Ahead9. Britney Spears10. Obsession

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Stocks hit all-time highs — and Anthropic just filed its S-1

TradeAlgo

THE DAILY BULLETINTuesday · June 2, 2026

—  LEAD STORY

Stocks hit all-time highs as Iran talks revive, Nvidia surges.

Wall Street staged a broad rally Monday, pushing the S&P 500 to a record 7,600 as two tailwinds converged: fresh optimism around US-Iran diplomacy and a renewed wave of AI enthusiasm driven by Nvidia’s latest hardware announcement.

The index notched its eighth consecutive gain — its longest winning streak since May 2025 — in a session that rewarded risk-takers willing to look past a weekend of jarring geopolitical headlines.

THE IRAN WHIPSAW

Markets spent most of the day absorbing a rapid-fire sequence of contradictory signals out of the Middle East:01Iranian state media reported early Monday that Tehran’s negotiators were halting talks with Washington and would close the Strait of Hormuz in retaliation for Israeli strikes on Lebanon02President Trump told CNBC’s Eamon Javers he “couldn’t care less” whether negotiations were finished03Hours later, Trump posted on Truth Social that talks with Iran“are continuing, at a rapid pace” following what he called a“very productive call” with Israeli PM Benjamin Netanyahu04Netanyahu separately confirmed Israeli forces had captured Beaufort Castle in southern Lebanon over the weekend

The whipsaw was enough to send crude oil higher before paring gains. West Texas Intermediate settled at $92.54 a barrel — up nearly 6% on the day — while Brent crude added about 4% to close just under $95. Still, both benchmarks remain well below levels seen at the height of the conflict roughly a month ago.

Conditions in the Strait of Hormuz are fragile, key details of any deal remain unresolved, and energy prices will continue to shape the near-term inflation and rate outlook.

— JASON PRIDE & MICHAEL REYNOLDS, GLENMEDE STRATEGISTS

THE NUMBERS UNDERNEATH

Beyond geopolitics, a pair of macro data points complicated the Fed’s calculus:01ISM manufacturing expanded in May at its fastest pace in four years02The ISM’s prices-paid gauge stayed near its highest levels since 2022, signaling persistent input cost inflation03Combined with rising oil, the data added to speculation that the Fed’s next move could be a rate hike rather than a cut

NVIDIA CARRIES THE SESSION

The day’s clearest winner was Nvidia, which jumped 5% after unveiling a new processor designed for personal computers — a move that signals the company’s ambitions extend well beyond data centers. Dell Technologies and HP followed sharply higher, rising more than 10% and 8% respectively, while Intel — which long dominated the PC chip space — dropped 5%.

Energy was the only other S&P 500 sector in positive territory.Marathon Petroleum gained 3%, Exxon added 2%, and Chevronedged up 1%.

THE BIGGER PICTURE

The pattern of the past several weeks has been consistent: two steps forward on diplomacy, one step back on escalation. Orion CIOTim Holland told CNBC the market is clearly not pricing in a return to peak hostilities. As long as the conflict stays closer to the off-ramp than the on-ramp — and energy prices hold below their prior peaks — the path of least resistance for equities appears to remain higher.

The harder question is how long the Fed stays patient while oil and manufacturing costs inch back up.

OPTIONS FLOW · MOST ACTIVELY TRADED

EV names surge. Enterprise cloud joins the run.SOURCE: TRADEALGO · LIVECONTRACTRETURNSVOL/OIPOWERIV RANKAI SCORECRWV$140 Call+305%20.99████░ 65%3336RIVN$18 Call+247%9.60█████ 89%4136MARA$15.5 Call+228%0.08████░ 74%3051CRM$205 Call+175%1.23█████ 94%5836ORCL$250 Call+148%4.62█████ 93%10059

The read: CRWV’s $140 call leads the board at +305% with the most aggressive Vol/OI print on the page — 20.99RIVN ($18C, 89% Power)and CRM ($205C, 94% Power) carry the highest conviction scores. The standout is ORCL’s $250 call — 100 IV Rank, paired with a 59 AI Score that’s the best read on the page.View full options flow →

⚡ CAPITAL MARKETS

Anthropic files confidential S-1 as AI’s trillion-dollar IPO race heats up.

Anthropic just made its most consequential move yet — and it didn’t write a single line of code to do it. On June 1, the Claude maker officially confirmed it had submitted a confidential draft S-1 registration statement to the SEC, formally entering the starting blocks for what could become the most consequential tech IPO in a generation. No share count, no price range — just a signal to Wall Street that the race is on.

Why this matters right now:01Anthropic is targeting a public listing as early as October 2026 and has retained Wilson Sonsini — the law firm that handled Google’s 2004 IPO — to manage its public-market readiness.02The company is eyeing a valuation of $1.75–$1.8 trillion and a raise of up to $75 billion, which would rank among the largest IPOs in history.03OpenAI, led by Sam Altman, is planning its own public debut as soon as this fall, having filed confidentially around May 22.04SpaceX kicks off its roadshow on June 4, targeting roughly $75 billion at a ~$1.75 trillion valuation — a figure that would eclipse Saudi Aramco’s 2019 record listing.

The company behind this frenzy isn’t exactly a newcomer. CEODario Amodei co-founded Anthropic in 2021 alongside his sisterDaniela and a cohort of former OpenAI researchers who left over concerns about safety and corporate direction. In five years, that scrappy research lab has become a near-trillion-dollar business.

The revenue story is the real headline. Anthropic’s annualized revenue run rate hit $47 billion this year — up from $10 billion just twelve months prior. Last week it closed a Series H funding round valuing the company at $965 billion, edging past OpenAI’s $852 billion March valuation. Amazon and Google are both major infrastructure partners, and Anthropic has committed $1.25 billion per month to SpaceX’s Colossus 1 data center in Memphis through May 2029 — a line item that underscores just how capital-intensive the frontier AI business has become.

The path here wasn’t clean. Earlier this year, Anthropic’s models were blacklisted by the Pentagon after negotiations broke down. Defense contractors quietly dropped Claude to stay compliant. But the conflict did almost nothing to slow growth — private sector adoption accelerated, and Claude climbed to the No. 1 spot on Apple’s U.S. free apps chart in February. Anthropic is still litigating its Pentagon blacklisting, and President Trump told CNBC in April that a resolution is “possible.”

Then came Claude Mythos Preview — a cybersecurity-focused model released to a select group of organizations through Project Glasswing — which reignited conversations in Washington and gave institutional investors something tangible to price in.

Wedbush analyst Dan Ives called the filing “an opening of the floodgates for the IPO market, which has been relatively dormant for a few years.” Some are drawing comparisons to the early internet era — a wave of massive listings, some of which defined industries and others that flamed out spectacularly.

The difference this time: the underlying technology is already generating tens of billions in annualized revenue. Whether the public markets will pay a near-$2 trillion price for it is the question investors will be wrestling with all summer.WEALTH SERIES CORELIVE SESSION · TOMORROW AT 3PM PT

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builds a full portfolio.

Tomorrow at 3pm PT, we’re walking through Wealth Series Core live — how TradeAlgo’s AI reads dark pool flow and options sentiment to identify positions, and what’s in the portfolio right now.01Live walkthrough of current positions and signals02How dark pool flow and options data drive each entry03Open Q&A with the TradeAlgo teamReserve your spot →TOMORROW · 3PM PT / 6PM ET· FREE

A.I. SCORING · SINGLE-TICKER SENTIMENT

Yesterday’s spotlight: CCL.SOURCE: TRADEALGO · LIVECCL Carnival Corporation Ltd.FULL CCL INFO →

A.I. SCORE · 1 HOUR

85.71%

Bullish

SIGNAL STRENGTH

NEWS SENTIMENT

+16.80

POPULAR CONTRACTSContractC/PStrikeExpiryVolITM%.CCL261016C25Call25Oct 16 ‘26119256%.CCL260618C23Call23Jun 18 ‘2626186%.CCL260618C21Call21Jun 18 ‘2624190%.CCL261016C23Call23Oct 16 ‘2612864%.CCL261218C25Call25Dec 18 ‘2612152%

The read: CCL is running one of the cleaner sentiment setups on the board — 85.71% bullish on the 1-hour A.I. score. Every contract in the top five is a call, zero put activity visible. The Oct $25C leads volume at 1,192 contracts. Near-term June $21C and $23C carry the highest ITM readings at 90% and 86% — deep-in-the-money positioning that behaves like stock replacement. News sentiment at +16.80 is positive but measured — the AI model is more bullish than the headlines.INVESTOR RELATIONSNOW OPEN

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TradeAlgo is opening a private round to a select group of accredited investors. Get on the list to review the deck and speak with our team.Request invitation →ACCREDITED INVESTORS ONLYNEWS FEATUREINDUSTRIALS & AI CAPEX

The S&P 500’s AI problem — it’s working almost too well.

The S&P 500 is having a strong year, but the story underneath the headline number is getting a little uncomfortable for anyone who believes in diversification. A handful of AI-linked names are doing almost all the work, and that’s raising flags even among the bulls.NVDA GOOGL MU ▲ AI CONCENTRATION

When three stocks drive the whole index

Evercore ISI’s Julian Emanuel put it plainly in a Sunday note: record AI demand has concentrated index gains into a tiny cluster of names, masking a consumer and geopolitical backdrop that, on its own, would look far less flattering. He singles out MicronNvidia, and Alphabet as having driven more than 40% of the year-to-date revision in S&P 500 2026EPS estimates.

Nvidia alone accounted for roughly 15.5% of the S&P 500’s total return in 2025. The company reported its most profitable quarter in chipmaker history on May 21 — $81.6 billion in revenue, up 85% year-over-year, with net income of $58.3 billion in a single 90-day period.01Three AI hyperscalers — AlphabetAmazon, andMeta — account for approximately 70% of the increase in 2026 earnings expectations in dollar terms.02S&P 500 annual earnings growth projections have been revised up to 28.6% from 14.4% in April, with roughly $8 trillion in cash still parked in money market funds.03The seven largest companies in the benchmark are responsible for more than half of the advance from the March 30 low, per Bloomberg.

Emanuel’s year-end target of 7,750 on the S&P 500 rests largely on continued AI demand led by tech, communication services, and consumer discretionary. But the same concentration driving the index higher could quickly become its biggest liability. When the rally is this narrow, a stumble from any one of these names doesn’t stay contained.ISM ▲ MANUFACTURING

Factory America is back — but price pressure won’t quit

U.S. manufacturing just posted its best reading in four years. The ISM Manufacturing PMI hit 54% in May — 1.3 percentage points higher than April and its highest reading since May 2022. It marked the fifth consecutive month of expansion, with the broader economy continuing to grow for the 19th month in a row. Wall Street had penciled in 53.2.01New orders rose 2.7 points to 56.8%, marking their fifth straight month of expansion after four consecutive contractions.02Employment rose 2.2 points to 48.6%, though it remains in contraction territory for the 32nd consecutive month.03The Prices Index registered 82.1% — still the second-highest reading since April 2022, indicating raw materials price increases for the 20th straight month.

That last number is the catch. Factories are busy, orders are flowing, and activity is clearly picking up. But input costs are still running extremely hot, and virtually every company comment in the report referenced higher prices, with transportation being the lone exception. Growth without margin relief is a story the Fed will be watching closely.DELL ▲ AI INFRASTRUCTURE

Dell’s AI moment: Goldman more than doubles its price target

Dell Technologies has spent two years quietly repositioning itself as an AI infrastructure company. Wall Street is finally paying attention. Goldman Sachs reiterated its Buy rating Monday and raised its 12-month price target on Dell from$230 to $500 — more than doubling it — following a blowout first quarter. Dell reported Q1 FY2027 EPS of $4.86, with Infrastructure Solutions Group revenue up 181% year-over-year.

The AI server business is the engine. Dell booked $24.4 billion in new AI orders in the quarter and exited with a record AI server backlog of $51.3 billion.

Goldman analyst Katherine Murphy’s upgrade hinges on three core arguments:01Enterprise IT hardware spend is growing, and Dell’s scale gives it a structural edge competitors can’t easily replicate.02The company’s 2027 AI server outlook is constrained by supply, not demand — meaning the ceiling is set by components, not customers.03Dell raised its FY2027 revenue guidance by $27 billion to $167 billion at the midpoint, lifting EPS guidance by 29% to $17.90.

Goldman wasn’t alone — Bernstein and Mizuho also raised their price targets to $500, while Morgan Stanley upgraded Dell from Underweight to Equal-weight. Shares were up roughly 10% Monday to around $465. The old PC company is building the server racks that AI runs on. The market is just now catching up.THE SIGNAL● SPECIAL PROMOTION

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DARK POOL ACTIVITY · INTRADAY

Yesterday’s Institutional FootprintsTICKERPRICEPERF.NEWSAIDARK POOLTWLO$230.31+18.30%+120%+523.99%HUBS$259.06+11.70%+42-63%+320.12%LITE$908.26+10.00%+21-73%+164.62%NET$270.17+9.80%+6171%+245.21%OKTA$140.65+9.60%+163%+158.92%DDOG$276.41+9.40%+5060%+260.51%NBIS$266.54+9.20%—60%+174.52%CRWV$124.06+8.10%—-63%+245.27%INOD$114.85+8.90%+467%+164.37%FDS$268.93+7.90%+1563%+259.11%

The read: TWLO leads the board with a +523.99% dark-pool surge — the only print above 500% today. Institutions are piling in on an +18% move while the AI Score sits at 0%, flat and noncommittal. The sector story is unmistakable — this is an enterprise cloud and cybersecurity sweep.LITE is the standout anomaly: a $908 stock up 10% with a -73% AI Score and +164% dark pool activity. NET (+61 news, 71% AI) is the cleanest conviction name — positive across all three signals.Open the dashboard →

WHAT’S IN THIS EDITION—Lead — AI Remains in the Driver’s Seat—Options Flow — Today’s most actively traded contracts—Capital Markets — Anthropic S-1; AI’s trillion-dollar IPO race—News Feature — S&P concentration, ISM beat, Dell upgrade—A.I. Scoring — Sentiment spotlight on CCL—Dark Pool Movers — Enterprise cloud sweeps the board

INSIDE THE PLATFORM—Live options dashboardDark pool activity feedA.I. sentiment scoringOptions Academy with Dane GlisekDaytrade live chat with Brian

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Disclaimer. This bulletin is provided for educational and informational purposes only and is not investment advice, a solicitation, or an offer to buy or sell any security. TradeAlgo does not act as a fiduciary or investment advisor. Trading options involves substantial risk and is not suitable for every investor. Past performance is not indicative of future results. Names, prices, and analytics referenced reflect data as of the time of publication and may have changed. Always do your own research and consult a licensed professional before making any investment decision. © 2026 TradeAlgo. All rights reserved.

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