9AM Hour: Dell Soars on Blowout Quarter, Bulls Rule in May, Bearish Month for Oil 5/29/26

Squawk on the Street

CNBC

News, Investing, Business

4.0 • 566 Ratings

🗓️ 29 May 2026

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

On the final trading day of May, Carl Quintanilla, Jim Cramer and David Faber led off the show with Dell shares soaring more than 30% on the company's blowout quarter and upbeat outlook. The anchors explored what it all means for the AI trade. They also discussed a bullish month of May and record highs for stocks, as well as the groups that have missed out on this month's rally. WTI Crude on track for its worst month in more than a year amid hopes for a U.S.-Iran peace deal. Also in focus: Chevron's CEO warns of a spike in oil prices this summer, Anthropic overtakes OpenAI on the valuation front, Elon Musk's X post about SpaceX and Anthropic, Costco and Gap fall, earnings winners and losers, Clorox CEO to step down. Squawk on the Street Disclaimer

Transcript

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0:00.0	Market Insight and Analysis.
0:01.8	You're listening to the opening bell of CNBC, Squawk on the Street.
0:11.2	Good Friday morning.
0:12.3	Welcome to Squawk of the Street.
0:13.3	I'm Carl Keating with Jim Kramer, David Fabry, Post Night of the New York Stock Exchange.
0:17.0	Final trading day of May, Bulls take aim at some fresh records.
0:20.3	They'll approach 7,600, thanks in part to Dell's blowout quarter and hopes for some details around this reported MOU to extend the ceasefire with Iran.
0:29.5	Oil is backing off, West Texas, below 87, now on pace for its worst month and more than a year.
0:35.9	Roadmap begins with the S&P on track for its ninth straight week of gains to end May,
0:41.0	despite seven of the 11 S&P sectors in negative territory for the month.
0:45.3	Plus, Dell is by far the top pre-market gainer on the S&P.
0:49.5	I'm going to stock looking up over 100 points right now.
0:52.7	That would be more than 30% on what was just insane.
0:57.5	Yeah, earnings.
0:58.3	Maybe the best ever since Nvidia's.
1:01.2	And we're going to spend a lot of time
1:03.0	and obviously guidance far ahead of what had been expected.
1:06.7	And then there's Anthropic overtaking Open AI.
1:09.1	It is now the most valuable AI startup right around, as I reported,
1:14.9	there were many others who have that trillion dollar valuation.
1:17.5	Of course, that follows this latest funding round.
1:20.3	Carl.
	...

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