Wall Street closed May 29 at record highs and wrapped a strong week and month as a tech-led rally — highlighted by Dell’s surge after upbeat guidance — offset mixed economic data. The S&P 500 notched its ninth consecutive weekly gain while the Dow and Nasdaq also rose; the tech sector and software services outperformed even as consumer staples and automakers lagged. Markets were further buoyed by reports that Washington and Tehran have agreed a memorandum of understanding to extend a ceasefire for 60 days and ease restrictions on shipping through the Strait of Hormuz, though President Donald Trump had not yet approved the deal. Vice‑President J.D. Vance said talks remain “close” but unresolved on uranium enrichment language. The possible interim pact pushed Brent and U.S. crude lower, lifted gold and nudged Treasury yields down as investors weighed lower immediate energy risk against persistent inflation pressures that keep the Federal Reserve’s options open.

A United Airlines Boeing 737-900 en route from Chicago O’Hare to Minneapolis was diverted to Dane County Regional Airport in Madison, Wisconsin late Friday night, May 29, 2026, after crew reported a security concern involving an unruly passenger. Flight UA2005, carrying 147 passengers and six crew, landed safely about 90 minutes after takeoff. Airline and law enforcement statements say the passenger repeatedly attempted to enter the cockpit and was eventually restrained; air traffic control and cabin audio indicate off‑duty officers on board helped subdue him. The FBI’s Milwaukee field office and local deputies responded; the Dane County Sheriff’s Office removed the individual and federal authorities are investigating. No injuries were reported. Passengers resumed the flight after the arrest and the aircraft arrived in Minneapolis in the early hours of Saturday. Some media reports say the pilot used a hijacking squawk (7500), a detail under federal review. United and investigators have not released the detainee’s identity or any charges as of Saturday morning.

A US federal judge ruled on May 29, 2026 that the Donald J. Trump name must be removed from the John F. Kennedy Center for the Performing Arts and temporarily blocked a planned two-year closure for renovations. U.S. District Judge Christopher Cooper, in a 94-page opinion, found the board — reconstituted last year after President Trump installed himself as chairman — exceeded its statutory authority by unilaterally renaming the federally created memorial, saying only Congress can change the Center’s formal name. The court ordered removal of Trump’s name from façades, signage and official materials within 14 days and said repairs may continue but a full shutdown cannot proceed without proper deliberation. The lawsuit was brought by Rep. Joyce Beatty, an ex‑officio board member; the Kennedy Center said it will appeal. Trump reacted on social media, calling the judge “ashamed,” said he would work with Congress to “transfer” the institution, and defended planned renovations for which $257 million has been secured. The ruling follows artist cancellations and declining programming since the board changes late in 2025.

U.S. Defence Secretary Pete Hegseth told the Shangri‑La Dialogue in Singapore on May 30 that Asian allies must boost military spending to counter what he described as “rightful alarm” over China’s historic military buildup and expanding activities. Speaking at the region’s premier security forum, Hegseth called for partners to aim for defence budgets of about 3.5% of GDP and highlighted a planned $1.5 trillion U.S. military investment. He said the United States seeks a “stable equilibrium” in the Indo‑Pacific and warned that “no state, including China,” should be allowed to impose regional hegemony. Hegseth struck a measured tone compared with last year, saying U.S. ties with Beijing are “better than they have been in many years” and noting increased military‑to‑military contact. He declined to commit on a reported up-to-$14 billion arms package for Taiwan, saying such decisions rest with President Donald Trump, and pressed allies to be “partners, not protectorates,” while praising countries including Japan, South Korea, Australia, the Philippines and Singapore.

At the Shangri‑La Dialogue in Singapore on May 30, 2026, US Defense Secretary Pete Hegseth described India as a “critical anchor” for stability in the Indo‑Pacific, praising its accelerating military modernisation and expanding defence-industrial base. Hegseth said India is building heavy industrial and logistical capacity to sustain high‑end operations and to support forward‑deployed US naval platforms in the Indian Ocean. He announced growing US‑India cooperation on defence co‑production, citing work on Javelin anti‑tank munitions and other interoperability measures, and framed New Delhi’s rise as advancing a balance of power against potential regional hegemons. Speaking amid plans by the Trump administration to substantially boost US defence manufacturing and spending, Hegseth also urged allies and partners to raise defence outlays and shoulder more security responsibilities. His remarks reflected a broader US push to deepen partnerships with India, Japan, Australia and ASEAN states to strengthen regional deterrence and logistical networks.