a four-year high at 62, signaling an expansion in regional business activity. This marks the largest monthly increase since 2020 and was significantly higher than the projected 50.6. The Chicago PMI assesses the business conditions and the economic health of the manufacturing sector in the Chicago region. A value above 50.0 indicates expanding manufacturing activity, while a value below 50.0 indicates contracting manufacturing activity.

The U.S. trade deficit in goods contracted more than expected in April as a surge in exports blunted rising imports, but economists cautioned the trend was ​unlikely to be sustainable, with businesses ramping up investment in artificial intelligence. The advance report from the Commerce Department on Friday suggested the three-month ‌U.S.-backed war with Iran, which has disrupted shipping in the Strait of Hormuz, had yet to have a significant impact on the nation's trade flows. The artificial intelligence spending boom is largely dependent on imports, including computer chips.

up 35%, on a spectacular earnings report. The company, famed for its 2000s-era "Dude, you're getting a Dell" advertisements, reported revenue of $43.84 billion versus expectations for $35.43 billion. Earnings per share were $4.86 compared to estimates for $2.94. Dell was taken private in 2013 and re-listed as a public company at the end of 2018. It's another example of an early internet computer company getting a fresh shot of life from the AI boom. Dell said that its AI revenue spiked year over year to over $16 billion, and increased its expectations for 2026 AI-derived revenue by another $10 billion to $60 billion.

Investors pulled money from US spot-Bitcoin exchange-traded funds for a ninth straight session, the longest run of withdrawals since the products debuted. The US-listed funds recorded about $2.8 billion of net outflows from May 15 through May 28, according to data compiled by Bloomberg. Bitcoin traded at about $73,650 as of 7:52 a.m. in London on Friday, down more than 40% from a record in October. Traders are clearly pulling money out of crypto and putting it into red-hot semiconductor plays.

as Trillions of dollars from the AI Boom flood the Bay Area. Renters are paying cash up front, multimillion-dollar houses are selling auction-style, and an AI company's stock can buy a sprawling hilltop estate. Nearly 40% of the S&P 500 market cap is now within an hour ride of a cable car ride.