Market update for Monday May 11, 2026 Check out the Public app for incredible investing tools and to support the show (LINK) Follow us on Instagram (@TheRundownDaily) for bonus content and instant reactions. In today’s episode, Zaid covers: Why Moderna and other pharma stocks are surging on hantavirus headlines Circle’s $222 million Arc blockchain raise backed by BlackRock, Apollo, and others Monday.com’s earnings beat thanks to AI push Nintendo’s stock drop after a Switch 2 price hike and weak sales forecast Why the New York Knicks could eventually become their own publicly traded company

Hantavirus Sends Moderna Higher, Circle Raises $222M for New Blockchain

The Rundown

# Full Transcript

**Podcast:** The Rundown

## Participants

- **Zaid Admani** (Public.com)

## Transcript

Public.com presents The Rundown, your daily market update in 10 minutes. My name is Zaid Admani and today is Monday, May 11th. In today's episode, we'll preview this upcoming week, including multiple inflation reports. We'll also tell you why pharma stocks are surging on the Hantavirus headlines and whether Moderna can pull off another COVID-era run. Then stick around to the end of the show to find out why Jalen Brunson might be hopping on an earnings call soon.

We got a great show for you today. Let's go. Stocks continue to roll. Both the S&P and NASDAQ are coming off their sixth straight week of gains. The S&P 500 jumped 2.4% last week, while the NASDAQ surged 4.5%. And this rally right now is being carried by chip stocks.

The stocks semiconductor index was up over 10% last week alone, and it's now gone up 65% on the year. And if you look over just the last six weeks, semiconductor companies have added roughly $3.8 trillion in market cap. Some of the biggest winners so far include Intel, which is up nearly 240% this year, Micron, which is up 160%, and AMD, which is up 110%.

And I can't forget about SanDisk. It's the best performing stock in the S&P 500, up 550% this year. By the way, we actually did a deep dive over the weekend about chip stocks and whether or not we're in a bubble right now. We've gotten some great feedback on that episode, so definitely go check it out if you haven't already. Now, zooming out, this chip rally is one part of the story. I think the other part, though, is the overall incredible earnings season.

Nearly 90% of the S&P 500 companies have reported earnings by now, and about 84% have beat on earnings estimates. And this is the stat that blows my mind. Overall earnings growth is tracking to rise 28% compared to Q1 of last year, which would be the strongest growth rate since 2021. I mean, a 28% earnings growth is just insane, and that's another reason why stocks keep grinding higher despite everything else happening in the world.

Speaking of which, we did get an update on the Iran situation over the weekend. President Trump rejected Iran's latest response to a peace proposal, calling it totally unacceptable. So the straight-up horn moves remains effectively closed, and as a result, oil prices are ticking higher this morning. WTI is trading around $97 a barrel, and Brent crude is above $103. You know, the biggest economic impact from the Iran war has been elevated oil prices and the impact that's having on inflation. We're actually going to be getting inflation data this week.

The April CPI report drops on Tuesday morning, and current estimates are calling for the largest monthly jump in inflation since 2022, driven mostly by higher oil and gas prices. So we'll see what those official numbers come in at tomorrow morning. We're also getting the PPI wholesale inflation report on Wednesday. Oh, and then on Thu...

Hantavirus Sends Moderna Higher, Circle Raises $222M for New Blockchain

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Hantavirus Sends Moderna Higher, Circle Raises $222M for New Blockchain

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.