Stocks Halt Rally on Conflicting US-Iran Signals | The Close 5/27/2026

Summary

Bloomberg's 'The Close' covers a U.S. stock market rally to record highs, with the S&P 500 extending gains despite conflicting US-Iran signals and elevated oil prices. Guests discuss gold's medium-term bullish case, the divergence between Snowflake and Salesforce earnings, and alternative diversification strategies. The show also previews key PCE inflation data and consumer spending trends.

• S&P 500 closes at a record high for the fifth straight day, driven by earnings momentum and AI themes.
• Oil (Brent) falls 5% to below $95 as US-Iran negotiations remain uncertain.
• BlackRock's Jeffrey Rosenberg highlights IALT ETF as a market-neutral diversification tool in a concentrated equity market.
• State Street's Aakash Doshi is structurally bullish on gold, citing geopolitical fragmentation and rising debt, with a potential $5,000+ target if oil drops.
• Snowflake shares surge 30%+ after hours on a $6B AWS deal and strong guidance, while Salesforce falls ~2% on lukewarm outlook.
• Former Boston Fed President Eric Rosengren expects inflation to stay above 3% and sees the Fed removing its easing bias, possibly leading to a hike.
• Consumer spending remains resilient but more Americans use Buy Now, Pay Later for everyday purchases, according to Kikoff CEO Cynthia Chen.
• Key economic data ahead: PCE inflation report for April expected to show headline rising to 3.8% year-over-year.