US, Iran Truce Hopes Lift Stocks | Open Interest 5/28/2026

Watch on YouTube ↗  |  May 28, 2026 at 17:01  |  1:40:14  |  Bloomberg Markets
Speakers
Saira Malik — Chief Investment Officer at Nuveen
Gabriela Santos — Head of Research, BTIG
Sridhar Ramaswamy — CEO, Snowflake
Miriam Wheeler — Global Head of Leverage Finance, Goldman Sachs
Ben Snider — Senior Equity Strategist, Goldman Sachs
Matt Miller — Anchor, Bloomberg

Summary

Bloomberg Open Interest discusses markets reacting to a tentative US-Iran ceasefire extension, retail earnings from Best Buy, Kohl's, and Dollar Tree, and inflation data. Guest Saira Malik (Nuveen) is bullish on the S&P 500 driven by earnings, while Snowflake CEO Sridhar Ramaswamy highlights AI-driven growth. Goldman Sachs speakers discuss AI capex and leveraged finance, and JP Morgan's Gabriel Santos sees a floor in oil and an opportunity in front-end rates.

  • U.S. and Iran reportedly reach a 60-day ceasefire MOU pending Trump's approval, lifting equities and lowering oil briefly.
  • Snowflake surges 36% after strong earnings and a $6 billion Amazon cloud deal.
  • Retailers Best Buy, Kohl's, and Dollar Tree report better-than-expected results, pointing to consumer resilience.
  • PCE inflation hits 3.8%, the highest two-month acceleration since 2021, driven largely by oil.
  • Goldman's Miriam Wheeler calls AI capex a generational opportunity driving financing demand.
  • Goldman's Ben Snider has an S&P 500 year-end target of 8000, driven by AI and earnings growth.
  • JP Morgan's Gabriel Santos sees a floor in Brent crude around $95 and views front-end rate hikes as overpriced.
  • Snowflake CEO says AI is compounding the company's data platform advantage, leading to raised guidance.
Trade Ideas
Saira Malik Chief Investment Officer at Nuveen 12:28
S&P 500 to 7700 on earnings growth
The S&P 500 can continue to climb higher from current levels, potentially reaching 7700 or higher, driven by strong earnings growth of over 20% for the full year. No multiple expansion is needed; earnings alone can push the index higher. Despite volatility from the Middle East, markets have tended to follow earnings growth.
SPY MED
Sridhar Ramaswamy CEO, Snowflake 44:47
Snowflake benefits from AI tailwinds
Snowflake is experiencing a landmark year where AI is compounding its data platform advantage. Revenue growth accelerated (34% dollar growth, 126% net revenue growth), and the company raised guidance. Products like Snowflake Intelligence and work agents are driving adoption, and the deal with Amazon provides economies of scale that make AI more affordable.
SNOW HIGH
Gabriela Santos Head of Research, BTIG 61:04
Long front-end Treasuries, Brent floor
The front end of the yield curve has moved up too much, embedding a full rate hike that is overdone. This presents an opportunity to position for lower short-term rates (i.e., long front-end Treasuries) as the next Fed move is likely not a hike. A floor in Brent crude around $95 also supports the view that inflation pressures will not intensify further.
BNO MED
Gabriela Santos Head of Research, BTIG 61:04
Long front-end Treasuries, Brent floor
The front end of the yield curve has moved up too much, embedding a full rate hike that is overdone. This presents an opportunity to position for lower short-term rates (i.e., long front-end Treasuries) as the next Fed move is likely not a hike. A floor in Brent crude around $95 also supports the view that inflation pressures will not intensify further.
2-Year Treasury MED
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This Bloomberg Markets video, published May 28, 2026, features Saira Malik, Sridhar Ramaswamy, Gabriela Santos discussing SPY, SNOW, BNO, 2-Year Treasury. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Saira Malik, Sridhar Ramaswamy, Gabriela Santos  · Tickers: SPY, SNOW, BNO, 2-Year Treasury