Nasdaq opened slightly higher, Snowflake surged 34% after earnings.

Glonghui, May 28 — The US April core PCE hit its highest level in nearly two and a half years. The three major US stock indexes closed mixed: the Nasdaq rose 0.04%, the S&P 500 fell 0.01%, and the Dow Jones dropped 0.43%. Snowflake surged 34% as its Q1 results exceeded expectations and it pledged to invest $6 billion to boost computing power. IBM rose 2.3%, planning to invest over $10 billion with the goal of building the first large-scale quantum computer by 2029. Marvell Technology gained 2.4%, posting record-high Q1 revenue and raising its fiscal 2028 revenue target thanks to strong AI-related orders.