To The Moon

$Salesforce.com(CRM)$ $Snowflake(SNOW)$  $MongoDB Inc.(MDB)$  📊🌍🚀 Wall Street this week: macro, geopolitics and software earnings in focus 🚀🌍📊

I’m heading into this shortened trading week with three interlocking forces shaping price action: geopolitical tension in the Middle East, critical U.S. macro data and a concentrated software and technology earnings calendar.

With U.S. markets closed Monday for Memorial Day, the trading week compresses into four sessions, but the amount of information the market needs to absorb feels anything but light.

The next few days could influence sector leadership, macro expectations and positioning into June.

📅 Key macro releases

🇺🇸 Monday 25May26

• U.S. markets closed for Memorial Day

📈 Tuesday 26May26

• Consumer Confidence

📊 Thursday 28May26

• Core PCE inflation

• Q1 GDP revision

• Weekly jobless claims

Thursday matters.

Core PCE remains the Federal Reserve’s preferred inflation measure and one of the market’s most closely watched data points.

GDP revisions will test the resilience versus slowdown narrative.

Jobless claims continue to offer one of the clearest real-time reads on labour market momentum.

If inflation stays sticky while growth softens, markets may need to quickly reprice the expected rate path.

🌍 Geopolitical wildcard remains front and centre

Trump and Iran discussions remain in focus, with the Middle East again carrying macro significance beyond headlines.

The Strait of Hormuz remains one of the most strategically important energy corridors globally.

Any credible progress toward de-escalation could support broader risk appetite.

Any renewed tension risks lifting crude prices, adding inflation pressure and feeding directly into bond yields and equity volatility.

Markets have been resilient lately.

That resilience may be tested quickly if geopolitical headlines accelerate.

💻 Software and technology earnings take centre stage

Primary focus:

• $CRM

• $SNOW

• $MDB

Additional reports drawing attention:

• $ZS

• $MRVL

• $DELL

• $COST

• $HP

I’m watching well beyond headline EPS beats or misses.

Key themes:

• AI monetisation and conversion into enterprise pipelines

• Cloud spending and optimisation trends

• AI infrastructure capex guidance

• Server demand and enterprise hardware backlog

• Margin durability

• Customer spending confidence

• Forward guidance into the second half

$CRM matters as a bellwether for enterprise software demand.

$SNOW and $MDB remain important reads on data infrastructure and developer ecosystem spending.

$MRVL and $DELL carry extra weight because they help validate whether AI infrastructure spending and server backlog demand remain intact beneath the software narrative.

🏦 Earnings season continues to surprise to the upside

Bank of America noted that approximately 64% of companies have beaten both EPS and revenue expectations.

That sits nearly +20 points above the long-term historical average of 42% since 2001.

It is also the strongest reading since 2021.

Even more notable, levels like this were not seen pre-pandemic at any point this century.

Despite elevated rates, geopolitical noise and policy uncertainty, earnings resilience continues to underpin equity markets.

🧠 Goldman Sachs highlighted one of the most important institutional rotations inside technology

Within Information Technology:

➡️ Hedge funds continue reducing Software exposure

➡️ Mutual funds remain underweight Software

➡️ Capital continues rotating toward Semiconductors

➡️ AI infrastructure remains the strongest institutional focus

Goldman highlighted:

• Mutual funds entered Q2 with the lowest Software exposure since at least 2012

• Excluding mega-caps, the tilt toward Semiconductors versus Software is the largest since 2012

• Hedge funds entered Q2 with Software at the smallest long weighting since 2019

• Semiconductor exposure reached record highs

That shift matters.

Institutional capital increasingly wants measurable AI returns tied to chips, compute, networking, power and infrastructure.

Software still carries major long-term upside, but investors increasingly want demonstrated monetisation rather than projected adoption curves.

That raises the importance of this week’s software reports.

Strong execution could attract fresh flows.

Weak guidance could reinforce the semiconductor leadership trend deeper into month-end.

📌 My watchlist into June

🟢 Cooling inflation + stable growth

Risk assets likely extend.

🟢 Strong software earnings + credible AI monetisation

Potential software re-rating.

🟡 Mixed macro and cautious guidance

Likely range-bound trading.

🔴 Sticky inflation + weaker growth + geopolitical escalation

Higher volatility and risk-off rotation.

A lighter calendar on paper can often mask the biggest repositioning weeks.

This one feels important.

Markets are being asked to evaluate inflation, growth, geopolitics and AI leadership all at once.

By the end of the week we may have a much clearer signal on whether institutional capital broadens back toward software, or whether semiconductors remain the dominant expression of the AI trade heading into June.

A question I’m watching closely:

Do $CRM, $SNOW and $MDB attract fresh institutional capital back into software, or does the semiconductor trade continue leading the AI narrative into month-end?

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Trade like a boss! Happy trading ahead, Cheers, BC 📈