5 Things to Watch on
May 26, 2026

Stocks are up more than +0.7% in premarket trading today as investors weigh the prospects of a U.S.-Iran resolution, even as fresh tensions emerged overnight. U.S. forces conducted "self-defense" strikes in southern Iran, targeting missile sites and mine-laying boats near the Strait of Hormuz, while Iran's IRGC claimed it downed an MQ-9 drone.

A new union representing roughly 70K app-based drivers in Massachusetts has been officially certified by the state, giving it the right to bargain on behalf of Uber (UBER) and Lyft (LYFT) drivers. Backed by the 32BJ Service Employees International Union, the App Drivers Union cleared the required 25% driver support threshold with 32% participation. It is the first union of its kind certified in the U.S.

Madison Square Garden Sports Corp. (MSGS) is up +3% in premarket trading after the New York Knicks swept the Cleveland Cavaliers to advance to the NBA Finals. The deep playoff run adds high-margin home games to the schedule, with analysts estimating a single strong Knicks postseason could generate roughly $140M in incremental revenue. The timing is also seen as a positive for MSGS's planned tax-free spin-off, which would separate the Knicks and Westchester Knicks into one publicly traded entity and the Rangers and Hartford Wolf Pack into another.

SpaceX executives have pressed Pentagon officials to pay $25,000 per terminal per month for Starlink access on LUCAS kamikaze drones, up from the roughly $5,000 currently paid, arguing the military is using a higher tier of service than contracted. The Pentagon countered that the $25,000 rate was designed for aircraft, not drones that use a connection for minutes at a time. The pricing dispute underscores the growing leverage SpaceX holds over U.S. national security infrastructure as it prepares for a major IPO.

Ferrari (RACE) revealed the Luce, its first fully electric vehicle, priced at roughly $600K and featuring quad motors producing 1,036 horsepower, a 122 kWh battery, and a 329-mile range. The design has drawn mixed reactions, with RACE acknowledging the vehicle was intentionally "polarizing" and not aimed at traditional automotive purists. The Luce is also RACE's first five-seat model, co-developed with former Apple designer Jony Ive.