Bespoke’s Morning Lineup – 5/7/26
See what’s driving market performance around the world in today’s Morning Lineup. Bespoke’s Morning Lineup is the best way to start your trading day. Read it now by starting a two-week trial to Bespoke Premium. CLICK HERE to learn more and start your trial.
“I shall seize Fate by the throat; it shall certainly not bend and crush me completely.” – Beethoven
Below is a snippet of commentary from today’s Morning Lineup. Start a two-week trial to Bespoke Premium to view the full report.
Today is the last super-busy day for earnings this season, so we’ll be providing a nice summary of all the results in tomorrow’s Bespoke Report newsletter.
In Monday’s Chart of the Day, we pointed out that Datadog (DDOG) was reporting earnings Thursday morning with a 100% historical EPS and sales beat rate. As a member of the Software group, DDOG took it on the chin from November through March, but it has recovered nicely in the last two months and broken out of its downtrend in the process.
DDOG has historically been a triple play beast, and it delivered once again this morning with another beat on EPS and sales and raised guidance. Shares are up 22% pre-market. The pop highlights that not all “software” stocks are the same, and when names get “thrown out with the bathwater” – the AI Doom trade in this case – opportunities arise.
McDonald’s (MCD) is another name that reported this morning, and the company reported a nice EPS beat on roughly inline revenues. Same-store sales growth was up just under 4% in both domestic and international markets.
As shown below, MCD has had a rough run since the Iran War began as investors worried about both consumer demand and higher input costs. This morning’s earnings assuages some of those fears, and shares are up 3% pre-market.
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The Closer – Leaping to New Highs, EIA, Employment – 5/6/26
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- The S&P 500 jumped over 1% to a new high today with the low of the day being the open.
- After a double-digit gain on Wednesday, Samsung is above a trillion dollar market cap and alongside SK Hynix accounts for almost half of total KOSPI market cap.
- College graduate underemployment has moved materially higher since the release of ChatGPT.
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Daily Sector Snapshot — 5/6/26
Bespoke’s Consumer Pulse Report – May 2026
Bespoke’s Consumer Pulse Report is an analysis of a huge consumer survey that we run each month. Our goal with this survey is to track trends across the economic and financial landscape in the US. Using the results from our proprietary monthly survey, we dissect and analyze all of the data and publish the Consumer Pulse Report, which we sell access to on a subscription basis. Sign up for a 30-day free trial to our Bespoke Consumer Pulse subscription service. With a trial, you’ll get coverage of consumer electronics, social media, streaming media, retail, autos, and much more. The report also has numerous proprietary US economic data points that are extremely timely and useful for investors.
We’ve just released our most recent monthly report to Pulse subscribers, and it’s definitely worth the read if you’re curious about the health of the consumer in the current market environment. Start a 30-day free trial for a full breakdown of all of our proprietary Pulse economic indicators.
The Triple Play Report: 5/6/26
An earnings triple play is a stock that reports earnings and manages to 1) beat analyst EPS estimates, 2) beat analyst sales estimates, and 3) raise forward guidance. You can read more about “triple plays” at Investopedia.com where they’ve given Bespoke credit for popularizing the term. We like triple plays as an indication that a company’s business is firing on all cylinders, with better-than-expected results and an improving outlook. A triple play is indicative of positive “fundamental momentum” instead of pure fundamentals, and there are always plenty of names with both high and low valuations on our quarterly list.
Bespoke’s Triple Play Report covers what each company does, what this quarter’s results say about their growth outlooks, and their histories of delivering triple plays. Bespoke’s Triple Play Report is available at the Bespoke Institutional level only. You can sign up for Bespoke Institutional now and receive a 14-day trial to read today’s Triple Play Report. To sign up, choose either the monthly or annual checkout link below:
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Chart of the Day – Chips on the Table
Bespoke’s Morning Lineup – 5/6/26 – Semis to the Sky
See what’s driving market performance around the world in today’s Morning Lineup. Bespoke’s Morning Lineup is the best way to start your trading day. Read it now by starting a two-week trial to Bespoke Premium. CLICK HERE to learn more and start your trial.
“Good judgment comes from experience, and a lot of that comes from bad judgment.” – Will Rogers
Below is a snippet of commentary from today’s Morning Lineup. Start a two-week trial to Bespoke Premium to view the full report.
US equity futures are up 1% this morning due to more gains from semis and a headline from Axios that the US and Iran are “closing in on a one-page memo to end the war.”
Notably, while the S&P 500’s price is still looking quite overbought, underlying breadth is neutral at best. As shown below, just over 50% of stocks in the S&P are above their 50-DMAs and 200-DMAs, and the S&P’s 10-day advance/decline line is still close to oversold territory.
So while price is extended to the upside, internals suggest that the rally still has room to run before we’d categorize it as overheated in the near term.
The semis are a different story, however. They’re currently experiencing one of the most epic runs in history, and the group is about as overbought as it gets.
As shown below, stocks like Intel (INTC), Seagate (STX), Micron (MU), and Advanced Micro (AMD) are up anywhere from 10-33% over the last week, and they’re set to open up sharply again this morning. When the opening bell rings, all four of these stocks will be more than 50% above their 50-DMAs.
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The Closer – Breadth Disconnect, AI Earnings, Prices Rising – 5/5/26
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- The S&P 500 is closed in overbought territory on Monday while its 10-day advance/decline line was oversold. That is only the 33rd time that has happened since 1990.
- For the first time since July 2022, more than half of respondents to the ISM Services PMI reported higher prices.
- Electronics and related imports are rising at a rapid clip and accounted for 16.3% of goods imports in March.
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Daily Sector Snapshot — 5/5/26
Q1 2026 Earnings Conference Call Recaps: Shopify (SHOP)
Bespoke’s Conference Call Recaps use AI to summarize lengthy earnings calls. The commentary below is AI-generated and then edited by Bespoke for quality control. As always, none of these summaries should be construed as recommendations to buy or sell any securities, and investors should do their own research and/or consult with a financial professional before making any investment decisions.
Our latest recap available to Bespoke subscribers covers Shopify’s (SHOP) Q1 2026 earnings call.
Shopify (SHOP) is a commerce platform that allows businesses of all sizes to build, manage, and scale online and offline retail, handling everything from storefronts and payments to logistics and marketing. It’s essentially the backbone of a huge chunk of internet commerce. Shopify put up another big quarter with GMV hitting $101B (+35%) and revenue up 34% to $3.2B. The biggest theme on the call was AI. Management made it clear this isn’t theoretical anymore, with AI writing over half of Shopify’s code and tools like Sidekick seeing 4x usage growth as merchants use it to automate tasks and build apps. Early signs from AI-driven shopping are notable, with traffic to Shopify stores up 8x and orders up nearly 13x, suggesting platforms like ChatGPT and Google AI could become real demand drivers as AI search channels. Enterprise momentum is building as large retailers ditch legacy systems, while international growth remains strong (Europe GMV +48%). Payments continues to scale, and management sees AI lowering the barrier to starting businesses, keeping the pipeline of new merchants strong. Despite better-than-expected results, guidance came up short of what analysts were looking for, sending shares down as much as 14% on 5/5…
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