Your Evening Briefing

May 22, 2026

S&P 500 posts weekly gains for its 8th consecutive week

The S&P 500, Nasdaq 100, and Russell 2000 all gained. This is the eighth-consecutive winning week for the S&P 500, its longest run of weekly gains since 2023.

Pakistan's Army Chief has traveled to Tehran to help broker a peace deal between the US and Iran. According to Secretary of State Marco Rubio, indirect negotiations for a deal have seen “a little bit of movement, and that's good.”

Healthcare was today’s best-performing sector while communications was the worst.

Stocks that moved higher:

Dell, Super Micro Computer, and HP jumped as Lenovo's huge AI revenue growth signaled hot demand for servers.
Quantum computing stocks D-Wave Quantum, Rigetti Computing, and Infleqtion continued their rally on yesterday’s news that Trump administration awarded grants to these firms, among others, in exchange for equity stakes. Other quantum computing firms like IonQ and Quantum Computing rose as well.
AMD rose as CEO Lisa Su forecast massive five-year CPU demand growth.
Imax had its best trading day since 2021 following a Wall Street Journal report that it’s exploring a sale.
Zoom surged after beating estimates and raising guidance.
Workday climbed on yesterday’s positive post-market Q1 earnings report under its returning CEO.
Estée Lauder jumped after scrapping its merger talks with Puig.
Birkenstock continued to rise on yesterday’s $250 million share buyback announcement.
Ross shares rose after the company delivered strong Q1 results, with sales topping Wall Street’s projections.

Stocks that moved lower:

Chinese stocks Futu, UP Fintech, PDD Holdings, Alibaba, and Baidu dropped as Beijing regulators launched a crackdown on illegal cross-border securities activities.
Despite reporting better-than-expected Q4 net bookings after the bell yesterday, Take-Two Interactive dipped as analysts called its GTA 6 revenue forecast absurdly conservative.
Reddit fell after launched a competitor to its community-based discussion format.
Uber deepened losses on a report it's exploring a full takeover of Delivery Hero.

Kraft Heinz is bringing back the glass ketchup bottle as it leans on sauces for growth

Condiments, sauces, and spreads — including Heinz, Kraft peanut butter, and Grey Poupon — remain Kraft Heinz’s biggest product category, accounting for 45% of total sales last year, more than its ready-made meals, meats, and cheese businesses combined. Read more.

Quantum computing CEOs hope “validating” government backing proves their technology is no longer speculative

The government funding is a push to boost the foundational elements of quantum computing to get the industry ready for prime time. The CEOs of Infleqtion and D-Wave give us their thoughts.

Read more.

Figure’s robots just sorted packages for 200 hours straight
What started as a 10-hour human-vs-robot challenge turned into a continuous marathon shift spanning nine days of continuous work.
Airbnb is expanding its hotel offerings and adding car rentals to its app
As cities crack down on listings, the homestay platform is attempting to become an “everything app” for travel.
Report: White House AI oversight executive order DOA
After weeks of uncertainty, the White House’s plan to review frontier models before release appears dead.

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