1. Chin up
Traders work at the New York Stock Exchange on May 28, 2026.
NYSE
President Donald Trump said over the weekend that he was in “no hurry” to make a deal to end the war with Iran. The president again raised the potential for further military conflict if an agreement isn’t reached.
Here’s the latest:
2. Death of a unicorn
The outside of Glossier’s store in New York.
Source: Glossier
The artificial intelligence boom has reset valuations for a generation of startups. As CNBC’s Hugh Son reports, many have been left for dead as the technology takes hold.
PitchBook found that almost half of unicorn startups in the U.S. haven’t raised funding in three years. Hundreds of companies that once held billion-dollar valuations, such as The Farmer’s Dog and Glossier, are now deemed “fallen unicorns,” according to the firm.
Among startups that last raised funds in 2021, valuations have fallen 68% on average, PitchBook found. The average startup that last raised money in 2022 has seen its valuation drop 52%.
3. Greg the builder
Taylor Morrison Home Corp. signage stands in front of homes under construction at the La Solara Community in Dublin, California.
David Paul Morris | Bloomberg | Getty Images
Berkshire Hathaway is on the hunt. The Omaha-based conglomerate agreed to acquire Taylor Morrison Home in a deal worth $6.8 billion.
Berkshire will pay $72.50 per share in cash, reflecting a 24% premium over where shares ended last week. As CNBC’s Yun Li notes, the acquisition marks one of the first significant deals under new CEO Greg Abel and further integrates the firm in the real estate industry. Shares of Taylor Morrison are up roughly 22% in premarket trading.
To be sure, the deal comes at a less-than-ideal moment for investors. Berkshire’s B shares are now underperforming the S&P 500 by their largest margin so far this year.
4. Busy season
Customers shop at a Walmart store on May 13, 2026 in Chicago, Illinois.
Scott Olson | Getty Images
The retail industry had an unexpectedly strong first quarter. But as CNBC’s Gabrielle Fonrouge reports, the sector’s big challenge hasn’t come yet.
Consumers continued to spend in the face of high gas prices and sour sentiment, but larger tax refunds may have provided a cushion. Guidance from companies such as Walmart and Ross indicate that shoppers could feel more economic pain in the near future with those refunds spent down.
In addition, Moody’s Analytics has found that the average U.S. household has paid nearly $450 more on energy since the war with Iran began. Cumulatively, that amounts to almost $60 billion.
5. Up front for Disney
Rita Ferro at Disney Upfront 2026.
Courtesy: Disney Co.
Disney has a big year ahead for advertising in 2027 as the home for the Super Bowl, the Oscars and the Grammys. Rita Ferro, the media giant’s global advertising chief, will be at the forefront.
As CNBC’s Lillian Rizzo writes, Ferro is currently in upfront negotiations with advertisers. After nearly three decades at Disney, Ferro finds herself at the center of an industry that’s relearning the importance of the advertising business.
Ferro told CNBC that fandoms will be paramount for Disney’s portfolio. She’s also focusing on the company’s intellectual property and international arms.
The Daily Dividend
Here’s what we’re keeping an eye on this week:
— CNBC’s Garrett Downs, Spencer Kimball, Matt Peterson, Sean Conlon, Yun Li, Lee Ying Shan, Hugh Son, Gabrielle Fonrouge, Deena Zaidi, Alex Crippen and Lillian Rizzo contributed to this report.
CJ Haddad assisted in the production of this newsletter. Terri Cullen edited this edition.