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News of the day for May 27, 2026

Futures tied to major stock indexes are higher as shares of chipmakers continue surging, while investors keep tabs on developments in the Iran war; shares of Micron are soaring again this morning after the memory chip maker yesterday joined the small list of companies with a $1 trillion market capitalization; Marvell shares are rising ahead of the chipmaker's earnings report later today; Dow component Salesforce is also scheduled to release quarterly results this afternoon; and Zscaler shares are tumbling after the cybersecurity software maker gave a cautious outlook. Here's what you need to know today.

Stock futures are rising this morning amid hopes that a deal to end the Iran war is coming soon, while shares of chipmakers continue to rally. Futures tied to the tech-heavy Nasdaq and S&P 500 were recently up 0.7% and 0.2%, respectively, while Dow Jones Industrial Average futures hovered near unchanged. The S&P 500 and Nasdaq hit record highs on Tuesday to kick off the holiday-abbreviated trading week, led by big gains for semiconductor stocks. WTI crude oil futures, the U.S. benchmark, were down nearly 4% at around $90.50 per barrel as investors track Iran developments. Gold futures were down nearly 2% at roughly $4,425 an ounce, while bitcoin was little-changed at around $75,700. The yield on the 10-year Treasury note fell to 4.46% from 4.49% at yesterday's close.

Shares of Micron Technology (MU) are soaring once again this morning after the memory chip maker yesterday joined the elite ranks of companies with a market capitalization of $1 trillion. The stock jumped nearly 20% yesterday and has more than tripled in value since the start of the year as an AI-driven shortage in the memory component market has made investors more bullish on memory chip makers. Micron shares were up about 9% in premarket trading, leading a broader chip rally. The iShares Semiconductor ETF (SOXX) was up 4.4% recently.

Marvell Technology (MRVL) shares are also sharply higher as investors await the quarterly earnings report from the chipmaker, which is due after today's closing bell. Marvell shares have more than doubled so far this year, and traders are pricing in another big move following the report. Analysts expect Marvell to report first-quarter sales of $2.41 billion along with adjusted earnings of 80 cents per share, each up about 30% year-over-year, as big tech companies keep spending on hardware to be used in AI data centers. Marvell shares were up 6% ahead of the opening bell, after rising 6% to a record high yesterday.

While the hardware sector has been on fire this year owing to optimism about AI spending, the impact of the technology has been a source of concern for investors in software companies such as Salesforce (CRM). The owner of Slack and other workplace software is set to report earnings after the closing bell. While the company is expected to report growth in revenue and profits over the year-ago period, analysts are divided about the outlook. Some say AI will help boost Slaesforce's business as the company grows its AI-focused Agentforce offerings, while others say AI could force a "structural reset" in the industry that slows customer growth. Shares of Salesforce, which have lost about a third of their value so far this year, were down 1% in recent premarket trading.

Shares of Zscaler (ZS) are sinking after the cybersecurity software maker issued a cautious sales outlook for the current quarter. After markets closed yesterday, Zscaler said it earned an adjusted $1.08 per share on $850.5 million in its fiscal third quarter, each above the analyst consensus compiled by Visible Alpha. The company also forecast fourth-quarter sales of $875 million to $878 million, below the $878.6 million analysts were looking for. Executives said in a letter to shareholders that the company is being "prudent" in its outlook in part because the company lost two key sales leaders in the quarter, with high memory costs also forcing it to spend sooner than expected on some equipment. Zscaler shares were down 25% ahead of the opening bell.

• Federal filings detail more than 5,200 securities trades in the trust held by President Donald Trump during his second term, with roughly 75% of those taking place in the first quarter of this year alone.
• The trust pivoted beyond its fixed-income book in 2025 to active stock trading earlier this year.
• A 45-day disclosure lag, the volume, and the lack of context in the filings make the trades nearly impossible to copy.

The trades are public. The strategy is not.

That’s the challenge of assessing the latest filings from the trust holding President Donald Trump’s assets, which show nearly 4,000 securities transactions in the first quarter of this year alone, an Investopedia review of the disclosures found. The trust shifted aggressively into stocks during the first quarter and dramatically increased its volume of trading. Of all the trades carried out by the trust during Trump's second term, about 75% took place in the first quarter of 2026 alone, and more than half of those trades were in March.

The first-quarter numbers amount to 65 trades for each trading day—the pace of an actively managed institutional trading book, not a sleepy presidential trust. They also represent a highly unusual amount of trading activity on behalf of a sitting politician, though the filings provide few ideas that an average investor could mimic.

"These are the first trades in public stocks that Trump, or any active president, has disclosed while in office," said James Kardatzke, CEO of Quiver Quantitative, which tracks lawmakers' stock trades. He said the pace exceeds any member of Congress over the past year.

Under the STOCK Act of 2012, the president and members of Congress must disclose securities trades above $1,000 within 45 days of the trade, or 30 days from when the official is notified, whichever comes first. By the time a filing surfaces, the market has had weeks or months to absorb whatever the trust was reacting to.

In 2025, the trust traded almost wholly in fixed income securities. The account placed an average of five trades each business day for municipal bonds, ranging from Alabama gas-prepay authorities to small-town school district bonds in Indiana and Texas, and investment-grade corporate paper from Boeing (BA), Whirlpool (WHR) and Netflix (NFLX). The trust also made a major buy of preferred stock in a broad spread of financial institutions in early May, not long after the April tariff announcements walloped bank shares.

Then came a 2026 shift into stocks. The week of Jan. 5, 2026, the trust executed almost 500 trades, the vast majority in individual stocks, and the pace didn't let up.

The trust trimmed its biggest mega-cap technology positions—Meta Platforms (META), Amazon.com (AMZN), Microsoft (MSFT) and Netflix—in the quarter's largest sales. It also traded heavily into AI infrastructure, including chip designers Nvidia (NVDA) and Broadcom (AVGO), semiconductor equipment maker Applied Materials (AMAT), electricity supplier Vistra (VST) and power supply management company Eaton (ETN).

Political copy-trading is already a small industry, built on the hunch that lawmakers know something the rest of us don't. The Unusual Whales Subversive Democratic Trading ETFs—NANC for Democratic disclosures, KRUZ for Republican—let investors mirror trades from congressional filings. A presidential trading book this active is a natural next target.

But the filings make that hard. Federal ethics rules give the president up to 45 days to disclose a trade, and for the filings disclosed this month, the trust was late and paid a small fine. In that time, a company might have reported earnings, revised guidance, or moved on interest-rate expectations—the trades may belong to a market that no longer exists.

The forms themselves are a problem. Kardatzke said Quiver hasn't moved to track presidential trades partly because "these trades are not consistently disclosed in a clean, machine-readable portal like the Congressional stock trades are."

The filings also leave out what investors would need most. They list which securities traded, whether the broker or customer directed the order, the trade value in broad, preset dollar ranges ($1,001–$15,000 up to $5,000,001–$25,000,000), and the day trades cleared. They don't show exact prices, position sizes, or the order of execution. You can see the flow but not the why—whether someone changed a view on a stock, was rebalancing, or was following an internal allocation rule the filings don't describe. Plus Treasurys, mutual funds and broad-based ETFs don't have to be reported at all.

The velocity and timing of Trump's trades make things harder still. With dozens of trades a day across hundreds of securities, any position a copy-trader might mirror could have been adjusted, trimmed or reversed by the time it surfaces. No obvious strategy emerges: Stocks were often bought and sold in the same session. For example, Amazon was bought and sold on Feb. 10. That also happened with Nvidia—three times (Jan. 6, Feb. 10 and March 17).

What investors can see is a posture. Trimming winners after a long run of mega-cap tech leadership is often an institutional move—in this case, pocketing gains on major tech stocks to spread the portfolio into industrials and semiconductors. It echoes, at higher volume, the purchases of bank preferred shares last May: identify a thematic basket, buy in concentrated bursts, and try to time a sector dip.

How the trades were placed offers further clues. Investments not made on a broker's recommendation are marked "unsolicited" in the filings. In 2025, just two trades late in the year, both for obscure municipal bonds, were marked that way. By March 2026, customer-directed trades made up about 27% of that month's more than 2,100 trades.

The Trump Organization has said third parties run the president's trades through “automated investment processes.”

“The president doesn’t sit at the Oval Office on his computer on his, like, Robinhood account, buying and selling stocks,” Vice President JD Vance said last week at a White House press briefing.

But many Americans do, and the question for investors is what to do with the information. The closest parallel is the 13F—the quarterly filings that major investment managers must submit listing stock holdings. Like the Trump filings, details arrive late, omit the prices, and are best read as signals rather than a script. They can tell you where the trust has been; they can't tell you where your money should go next.

• Costco is due to report earnings Thursday afternoon, with traders anticipating the stock could swing up to 3% in either direction by the end of the week.
• Analysts project rising sales and profits, expecting consumers flocked to the warehouse retailer for deals.

Costco Wholesale is set to report earnings after the closing bell Thursday, with traders anticipating a sizable move from the warehouse retailer's stock following the results.

Based on current options pricing, Costco (COST) shares are seen swinging up to about 3% by the end of the week. From Tuesday close, that could lift the shares as high as $1,032, nearing their record earlier this month, or drag them below $974.

Shares of Costco are up more than 16% since the start of the year, though they've pulled back from their highs after rival Walmart (WMT), which owns Sam's Club, posted mixed results and said it was seeing signs that many consumers may be feeling squeezed financially.

Costco's results could offer more insights into the health of the American consumer, after reports from other retailers indicated inflation and soaring fuel prices are taking their toll, with some grocery stores considering price cuts.

Ahead of the report, UBS analysts reiterated a "buy" rating and lifted their price target to a Street-high $1,275. The analysts said they see Costco reporting "robust" results, anticipating consumers likely flocked to the warehouse retailer for lower gas prices and deals on other purchases. Investors could also focus on Costco's membership growth and renewal rates, they said.

Analysts see Costco reporting fiscal third-quarter revenue of $69.47 billion, up 10% year-over-year, along with earnings of $4.92 per share, up from $4.28 in the year-ago quarter, per estimates compiled by Visible Alpha. The retailer is expected to report a 5% jump in total members to 83.63 million, and comparable store sales are projected to have grown by about 7.9%, and 6.5% excluding more volatile gas and currency exchange impacts.

Analysts are largely bullish on Costco. Of the 15 analysts with current ratings tracked by Visible Alpha, nine have recommended buying the stock, compared to four neutral ratings, and just one "sell" rating. Their average price target of about $1,060 would suggest close to 6% upside from Tuesday's close.

• With long-term Treasury yields at their highest level since before the financial crisis, the case for shifting more of a portfolio out of stocks is stronger.
• Those invested in fixed-income securities, including retirees, can earn meaningful returns on cash without taking equity risk.
• Investments in equities as a percentage of assets are the highest on record.

The investing playbook can seem simple: Buy the stock market and reap the rewards. But with some long-term Treasurys yielding above 5%, many are now wondering if their strategy should change.

The S&P 500 is trading near record highs, making stocks look stretched: The S&P 500 is trading around 22 times forward earnings, above its 10-year average. Treasurys, high-yield savings accounts, and CDs are paying yields more competitive with long-term equity returns. Financial advisers warn against overhauling your long-term portfolio mix, but say there's room for tactical moves.

For a decade after the financial crisis, bonds and savings accounts paid so little that holding cash or bonds meant losing much of their yields to inflation. That's no longer true. With 30-year Treasury yields above 5% for the first time since 2007 and some high-yield savings accounts and CDs paying around 4%, the safer parts of a portfolio can now generate meaningful income on their own.

For most of the 2010s, bonds paid comparatively little. Consequently, portfolios migrated more into stocks: the percentage of household and nonprofit assets in equities rose from about 27% in 2012 to a record 47% as of the fourth quarter of 2025. Today's higher yields, including those on Treasury bonds and high-yield savings accounts, could slow that rise. While historically, stocks have paid investors a premium over bonds to compensate for their extra risk (called the equity risk premium), that premium has nearly disappeared. That hasn't happened in decades.

That doesn’t mean you should dump your stocks, but it does mean many have better choices apart from equities. With prices above historical averages, investors are arguably paying too much for future growth, and, for the first time in years, there's a risk-free alternative paying nearly 5% competing for your money. How you should respond largely depends on your age and whether you’re still building wealth or starting to spend it.

If you’re years away from retirement and still adding to your portfolio, you’re likely heavily invested in stocks. People in this situation typically see more fluctuations in the value of their portfolios, and while stocks have risen steadily for some time, stubborn inflation has increased some traders' expectations that the Federal Reserve could raise interest rates this year, which could pressure stocks. 

Prince Dykes, founder and chief investment officer of Royal Financial Investment Group, said younger investors should treat stock market volatility as a chance to buy in, not a reason to make sudden shifts. “When rising rates push equity prices down, that’s not a crisis," he said. "It’s an opportunity to buy more at better prices."

If you want to be more tactical, Dykes suggests splitting future contributions between equities and an easily accessible high-yield savings account. Then, when the stock market drops, you can deploy that cash into stocks at lower prices.

If you’re retired or nearly retired, rising rates can be a good thing. You're now drawing down what you spent decades building, and for the first time since before the financial crisis, you can earn 4% or more on cash without taking equity risk.

Dykes recommends a two-bucket approach. One can hold five years of living expenses in high-yield savings accounts or short-term CDs. The other is kept in equities for long-term growth. If markets fall, you wait it out while the other bucket covers expenses.

Whatever your age, financial planners generally agree on one thing: Don’t blow up your whole strategy because of where bond rates are. Small adjustments can be smart, but wholesale changes driven by market conditions should be avoided.

For the bond portion of your portfolio, Carolyn McClanahan, a certified financial planner and founder of Life Planning Partners, advises investing in individual bonds, not bond funds, to lock in the yield. She recommends laddering maturities—buying bonds with staggered due dates—"so that you always have something maturing to meet cash flow needs." Otherwise, she said, stick to the original plan.

"Changing allocations based on market conditions is trying to time the market," McClanahan said. "To me, that is a fool's game. Allocation decisions should be driven by your goals and your ability to take on risk."

• Deutsche Bank research suggests that a rise in supply is not great for stocks—but there are caveats.
• Some experts, meanwhile, are worried that fast-tracking mega-IPOs into major benchmark indexes might not serve investors well.

Big IPOs from SpaceX and OpenAI are expected soon. Both are expected to fetch trillion-dollar valuations. And investors are starting to ask: Where will the money come from?

The supply-and-demand question lands as major benchmark indexes continue their ascent and more startups are joining a wave of companies going public. Investors are hunting around for the next big thing, diving into artificial intelligence plays, chip stocks and space-themed funds. Though Deutsche Bank says the "willingness to invest" in stocks remains strong, there's a growing concern that the coming wave of new issues could "crowd out" the broader stock market—even and trigger a selloff.

That may not be a baseless concern: An increase in supply of new stocks, all else being equal, is "negative for equities," Deutsche Bank's strategists including Parag Thatte wrote in a recent report. The vital question may be how much.

IPO waves tend to coincide with strong stock market returns. But the coming set of mega new issues is raising concerns that they'll catalyze a selloff as they displace stocks of other companies out of major benchmark indexes.

The coming wave of IPO activity stands to be much larger than it has been in the recent past. But the largest expected IPO—likely Elon Musk's SpaceX, based on disclosures and news reports—would represent just 0.1% of the current S&P 500 market cap, according to Deutsche Bank.

Adding in the new stock supply into a framework that takes into account investor positioning as well as flow into stocks suggests that the largest IPOs could move the broader market lower by about 1%, the firm said.

"Given the lumpy nature of the listings and concerns around crowding out other stocks in index benchmarks, the risk is of a somewhat larger negative impact," Thatte and his team said. They added market declines of 3%-plus usually occur every one to two months on average for a variety of reasons. Historically, waves of new stock issuance haven't blunted the equity-market party.

Meanwhile, some market watchers worry that these high-profile new listings may be muscling their way into big indexes before their time. The Nasdaq, as well as S&P Dow Jones Indices have changed, or are in the process of changing, their rules to fast-track newly listed mega-cap stocks into the likes of the Nasdaq 100 and the S&P 500. The S&P 500, for example, under its current rules, says a company included in the index has to have been public for at least 12 months and have positive GAAP earnings in its most recent quarter and the sum of the trailing four quarters. SpaceX would not currently qualify.

"The index wasn't designed to do that," said Jay Woods, chief market strategist at Freedom Capital Markets. "It was designed to reward companies that have already earned their place through profitability, staying power, and the patience of real markets," Woods said. Such a change, he said, would create "artificial demand" and make regular folks invested in index funds such as the State Street SPDR S&P 500 (SPY) "involuntary SpaceX shareholders."

• Micron and Marvell led tech and AI stocks higher Tuesday to start the holiday-shortened trading week, with Micron's market cap touching $1 trillion for the first time.
• Analysts are growing more bullish on the stocks after a string of strong earnings reports, with more due in the coming days that could add fuel to the recent rally.

It looks like full speed ahead for the AI rally to start the week.

Shares of memory chip maker Micron (MU) were recently up nearly 20%, leading other semiconductor and tech stocks higher after the long holiday weekend. The move, which comes alongside growing optimism about the AI trade after a string of strong earnings reports, pushed Micron's market capitalization above $1 trillion for the first time.

More reports due in the coming days could add to the positive sentiment. Results from AI chip designer Marvell (MRVL) and server maker Dell (DELL) are scheduled for later this week. Shares of Marvell popped by more than 10% to new highs today before paring some of those gains, while Dell climbed close to 3%. Advanced Micro Devices (AMD) and Qualcomm (QCOM) jumped over 5%, helping lift the PHLX Semiconductor Sector Index (SOX) 5%. The Roundhill Memory ETF (DRAM) was up some 15%.

Marvell's earnings report Wednesday afternoon could add fuel to the recent rally, as big tech's data center buildout drives up spending on AI hardware.

Some market watchers see more gains ahead for Micron, which has already more than tripled this year alone. Analysts at UBS in a Tuesday note more than tripled their price target for Micron to $1,625 from $535, pointing to signals of strong demand and structural changes driven by AI. That target, which would represent a new Street high well above the mean around $777 as compiled by Visible Alpha, would suggest UBS sees the stock nearly doubling in the next 12 months from recent levels.

HSBC analysts also upgraded Marvell to a "buy" rating Tuesday. Marvell is set to report earnings after the bell Wednesday, with analysts projecting growing profits and revenues, and traders anticipating its stock could hit fresh highs following the report. Marvell shares have more than doubled this year.

Monday's gains follow last week's announcement of strong earnings and an upbeat outlook from Nvidia (NVDA). The company's numbers appear to have energized some corners of the AI trade, sustaining enthusiasm ahead of what could be some blockbuster IPOs later this year.

More broadly, big tech has powered the earnings season in recent weeks. Non-Magnificent 7 S&P 500 companies are on track to post 17% earnings growth for the quarter, according to FactSet, with the Magnificent 7 group of companies up more than 22%.

• UBS analysts in a note on Tuesday forecast U.S. airline earnings could grow by about 50% on average next year due to higher airfares and falling fuel prices.
• Airlines are trimming their expansion plans over the next few quarters, which UBS expects to keep airfares rising at about the same pace as inflation.

After a tough start to the year, some analysts see airline stocks catching a tailwind soon.

“We see potential for airline stocks to move higher from here as market begins pricing in the possibility of significant earnings expansion for 2027,” wrote UBS analysts in a note on Tuesday. 

Heading into Tuesday, the U.S. Global Jets ETF (JETS) was down about 3.5% since the start of the year, trailing the benchmark S&P 500’s 9% return. Of the four largest holdings that account for more than 40% of the fund—Delta (DAL), American (AAL), United (UAL) and Southwest (LUV)—only Delta was up since the start of the year. (The ETF climbed on Tuesday amid optimism about a deal to end the war in Iran.)

UBS's big earnings growth forecast is notable considering U.S. airlines operate on thin margins and often lose money flying passengers, only turning a profit because of advantageous deals with credit card providers. Delta's profit was up about 8% last year when it was the only U.S. major to grow earnings.

UBS sees potential for U.S. carriers to grow earnings by about 50% on average next year, a  bullish call that rests on two assumptions. The first is that the price of jet fuel, which jumped in March when the conflict in the Middle East cut off oil flows in the Strait of Hormuz, continues to moderate. Fuel prices have declined about 20% since peaking above $200 a barrel in late March, but they’re still 60% above their pre-war level. Based on the oil futures curve, UBS expects prices will continue to come down, though they are “likely to remain well above pre-conflict levels.”

Their second assumption is that revenue per average seat mile (RASM) growth, a key industry performance metric, can average in the low-single digits. According to UBS, airfares have risen about 30% less than overall consumer prices since 2019, “creating enough room for prices to rise to catch-up to general inflation.” 

UBS also expects the industry to add little capacity in the form of new routes or additional flights this year, primarily due to financial pressures on low-cost carriers. That could set airlines up for a replay of 2011 to 2014, when carriers added seats at an unusually slow rate, causing airfares to rise faster than headline inflation and “driving meaningfully positive returns on airline stocks.”

High fuel prices are widely expected to keep a lid on capacity growth. Deutsche Bank on Tuesday forecast capacity will be little changed from last year in the second and third quarters after airlines last week trimmed their summer schedules. Major airlines like Delta and American are expected to expand their capacity by a little over 4% in the third quarter, while low-cost carriers shrink capacity by more than 6.5%. 

UBS expects United Airlines’ 2027 earnings to exceed Wall Street estimates by nearly 50%, one reason it’s their top stock pick. Delta, Alaska (ALK), American and Southwest are all expected to exceed estimates by about 30%. 

The $148 price target UBS assigns to United stock represents about 40% upside from Tuesday’s price. Delta, American and Southwest stocks are predicted to rise between 21% and 26%. 

Episode 296 of the Investopedia Express podcast with Caleb Silver (May 26, 2026)

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This headline-driven stock market has tested investors’ ability to keep their animal spirits in check. But history has repeatedly proven that time in the market and compounding are undefeated.

Ben Carlson, author of “Risk & Reward” and co-host of the Animal Spirits podcast, drops in with the latest examples of common-sense investing and time-tested strategies that work in any market. Plus, SpaceX has made its IPO plans public, and its $24 trillion ambitions go way beyond space.

• Oklo shares jumped Tuesday morning following news the company is in advanced talks with the Energy Department for a fuel program.
• Analysts said the announcement adds to Oklo's strategy of securing fuel from multiple sources, but isn't necessarily accelerating the nuclear energy startup's timeline of bringing its first reactors online.

Oklo stock climbed Tuesday after the company took a key step towards securing fuel for its nuclear reactors.

Shares of the nuclear energy start-up were up more than 6% in recent trading after Oklo (OKLO) announced this morning that it was one of five companies selected for advanced negotiations for the Department of Energy's Surplus Plutonium Utilization Program.

The program takes extra plutonium that could be disposed of and instead provides it to nuclear energy companies to be converted into fuel for reactors. The company said the program "supports Oklo’s broader fuel strategy, which includes multiple pathways to source fuel."

Oklo and other nuclear energy stocks have been boosted in recent years by the push into clean energy by big tech companies looking to secure power sources for their data centers. Tuesday's announcement could be a sign that Oklo is progressing toward deploying its reactors.

“Fuel supply constraints are a key throttle to advanced reactor development,” Oklo CEO Jacob DeWitte said. “This program creates a pathway to use existing surplus material as bridge fuel for advanced reactors to bring more reactors online sooner. Material that has been set aside for disposal can instead be converted into fuel to produce electricity through fission.”

Wedbush analysts said they don't see the announcement as a "timeline accelerant" for Oklo, with its first reactor still expected to come online in late 2027 or early 2028, but said it is an "additive to Oklo's multi-pronged fuel strategy," keeping their outperform rating and $110 price target.

Oklo shares jumped as much as 11% early Tuesday to above $73 but were trading around $70 recently. With Tuesday's gains, the stock is back near where it started the year but still down more than 60% from last October's record highs, as investors have grown concerned about the company's timeline for revenue and profitability.

• Ferrari shares fell Tuesday morning after the luxury carmaker announced its first fully electric sports car.
• The Ferrari Luce will cost about $640,000, and is also Ferrari's first five-seater.

Ferrari just unveiled its first electric sports car. Investors aren't cheering the move.

Shares of Ferrari (RACE) were down 4% in recent trading, a day after the carmaker revealed its first all-electric sports car, the Ferrari Luce.

The car will start at around 550,000 euros, or around $640,000, with deliveries expected to begin in the fourth quarter, per CNBC. The sports car maker's first fully electric vehicle could mark the latest test for EV demand among the world's wealthy, as the broader EV industry has struggled in the U.S., with a number of automakers taking big hits pivoting away from EVs after federal EV tax credits expired last year.

Monday's slump could point to concerns about Ferrari's decision to make a fully electric sports car as the industry has seen demand weaken in recent months.

"We are convinced that a company demonstrates its leadership when it has the courage to dare and to take on the challenge of new technologies," Ferrari CEO Benedetto Vigna said in a statement.

Named for the Italian word for "light," Ferrari said the car was designed in collaboration with LoveFrom, the design collective started by former Apple (AAPL) designer Jony Ive. Ferrari said the car can go from zero to 100 kilometers per hour (62 miles per hour) in 2.5 seconds, is its first five-seater, and has a total range of 530 kilometers, or about 330 miles.

With Monday's slump, Ferrari shares are down 10% since the start of the year, and about 30% in the last 12 months.