5 Things to Watch on
May 5, 2026

Stocks gained more than +0.4% today as investors awaited the Labor Department's JOLTS report on job openings, hiring, and quits. The advance came despite 10-year inflation expectations climbing to 2.5%, their highest since March 2023, reflecting lingering geopolitical uncertainty.

Amazon (AMZN) yesterday launched Amazon Supply Chain Services, a bundled offering that opens its full logistics network, including freight, distribution, fulfillment, and parcel shipping, to third-party businesses of all sizes. Early customers include Procter & Gamble (PG), 3M (MMM), Lands' End (LE), and American Eagle Outfitters (AEO), already using AMZN's freight and parcel network. The platform incorporates AI demand-forecasting and inventory-placement tools, accessible through a centralized console where businesses can configure services.

OpenAI is fast-tracking its first AI agent phone, with mass production targeted as early as the first half of 2027, according to analysts. MediaTek appears better positioned as the sole processor supplier, using a customized chip built on Taiwan Semiconductor Manufacturing's (TSM) N2P node, with the device designed to handle routine tasks on-device while offloading heavier compute to the cloud. Combined 2027-2028 shipments could reach roughly 30M units if development stays on track.

Palantir (PLTR) reported Q1 revenue up +85% YoY, with U.S. business surging past +100% YoY growth as demand for its AIP platform outpaced what the company can currently deliver. Profitability and cash generation were strong across the board, with net dollar retention and operating margins both hitting records. Management raised full-year 2026 revenue guidance in what it called the company's largest-ever guidance increase, while CEO Alexander Karp framed the quarter as proof that real enterprise AI transformation runs through PLTR.

Duolingo (DUOL) fell -4% in extended trading yesterday after Q1 results beat expectations but a softer bookings outlook and near-term margin pressure weighed on the stock. Subscriber and engagement growth remained strong, while DUOL held its full-year revenue outlook steady, guiding bookings growth to roughly +11%, a step down from recent trends. The company is leaning into AI feature investment with returns not expected to materialize until after 2027, prioritizing long-term engagement over near-term monetization.