Market update for Wednesday May 6, 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: Oil prices plunge as reports suggest the U.S. and Iran are closing in on a deal to end the war AMD’s blowout earnings, including surging data center revenue Disney beats across the board in new CEO Josh D&#x27;Amaro&#x27;s first earnings report Uber rising after stronger-than-expected bookings guidance and continued delivery growth Nvidia investing in Corning as fiber optics become a bigger part of the AI data center buildout Lucid falling after a weak quarter, flat deliveries, and suspended production guidance Amazon opening up its massive logistics network to outside businesses

AMD Soars on AI Demand, Corning gets $500M from Nvidia

The Rundown

# Full Transcript

**Podcast:** The Rundown

## Participants

- **Zaid Admani** (None)

## Transcript

Public.com presents The Rundown, your daily market update in 10 minutes. My name is Zaid Admani and today is Wednesday, May 6th. In today's episode, I'm recapping earnings from AMD, Disney, and Uber. I'll also tell you about Nvidia's $500 million investment in a company known for making glass. Then stick around to the end of the show to find out about Amazon's latest business

that is making UPS and FedEx shareholders very nervous. We got a great show for you today. Let's go. Stocks were back to record highs on Tuesday. The S&P 500 was up 0.8%. The Nasdaq jumped 1%. I mean, it was a broad-based rally with all 11 sectors finishing in the green. Chip stocks were the biggest winners.

Intel surged 13% after reports that Apple is in talks with them and Samsung to manufacture chips here in the U.S. We covered that on yesterday's show, so go check that out if you missed it. Intel's rally pulled up other semiconductor stocks like Sandisk, Micron, and Qualcomm, which were all up more than 10% yesterday. And if you look at the SOX Semiconductor Index, ticker symbol S-O-X-X, it is now up 54% since the end of March.

That is the best stretch for the chip stocks since the dot-com bubble in the year 2000. That also kind of makes me nervous about what's going to happen to these chip stocks. Now, the other big driver of the market rally was the Iran situation calming down. Remember, on Monday, there was an escalation near the Strait of Hormuz. But yesterday, Defense Secretary Pete Hexeth played it down, saying the ceasefire is still holding. And then this morning, Axios is reporting that the U.S. and Iran are close to reaching a deal to end the war. Now, nothing has been finalized yet.

The U.S. is reportedly waiting for Iran to respond on several key points in the next 48 hours. But the market is reacting like this is a done deal. Oil prices are down around 10% this morning, with Brent crude dropping below $100 a barrel. And WTI is now under $90 a barrel. You know, for the past couple weeks, the market has been more focused on strong corporate earnings. But if a peace deal with Iran gets done, that could be the cherry on top. We'll continue to keep an eye on the headlines coming out of the Middle East, along with everything else happening in the markets.

So make sure you guys are subscribed to the podcast and tuning in every day to stay in the loop. Let's run through some headlines, starting with AMD. AMD reported earnings last night, and they absolutely crushed it. Revenue was up 38% to $10.3 billion, and their net income nearly doubled to $1.4 billion. The data center business, which includes AMD's AI chips, was the star of the show.

Revenue in that segment grew 57% year over year to $5.8 billion. In fact, that one segment alone is now bringing in more revenue than the entire company was generating less than three years ago. And the cherry on top for thes...

AMD Soars on AI Demand, Corning gets $500M from Nvidia

Transcript

Built for investment professionals

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

AMD Soars on AI Demand, Corning gets $500M from Nvidia

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.