GoKawiilThis is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Friday. I'm CJ, filling in for Alex this morning. You might know me from my coverage of technology stocks on and off since 2024. My co-workers know me as the news associate that can fold a serious origami crane. Speaking of things that fly, wait until you hear where shares of Dell Technologies are headed this morning after an AI-fueled earnings beat. Stock futures are higher before the bell. All three major averages are coming off a winning session and on pace for a positive week. Here are five key things investors need to know to start the trading day:
1. Seal the deal?
U.S. President Donald Trump speaks during a cabinet meeting in the Cabinet Room at the White House, in Washington, D.C., U.S., May 27, 2026. Evan Vucci | Reuters
2. Inflation data
A driver refuels a vehicle with regular gasoline at a Shell gas station in Albany, California, US, on Thursday, May 21, 2026. David Paul Morris | Bloomberg | Getty Images
Inflation continues to pinch at consumers this spring. The Commerce Department reported yesterday that the personal consumption expenditures price index rose 0.4% last month, putting the annual rate at 3.8% — the highest level since May 2023. Core inflation, which excludes food and energy, increased 0.2% in April to hit an annual rate of 3.3%. As CNBC's Jeff Cox reports, the 12-month readings were in line with expectations but both monthly numbers were slightly below Wall Street's expectations, a sign that the recent rise in prices could be easing. Inflation's pressures are causing Americans to save less. Data from the Bureau of Economic Analysis published yesterday showed that the personal savings rate fell to its lowest level since 2022 as the everyday cost of living, as well as gas and grocery prices, outpaced paychecks.
3. In-Dell-ible earnings
In this photo illustration, the Dell logo is displayed on a cell phone and computer monitor on Feb. 27, 2026 in Pasadena, California. Mario Tama | Getty Images
Shares of Dell Technologies rocketed as high as 39% in extended trading after the company reported its fastest pace of revenue growth since it returned to the public market in 2018. The server maker topped analysts' expectations on both lines, reporting an 88% annual increase in revenue thanks to a flood of AI demand. Dell said it now expects $60 billion in AI revenue for the year, up from a February projection of $50 billion. As CNBC's Garrett Downs, Hayley Cuccinello and Jordan Novet report, CEO Michael Dell was an early supporter of Trump's second term. Now, his company is wrapping up its best month in years and just this week landed a $9.7 billion deal with the Pentagon.
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