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

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.

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

Read the full transcript

The candid version is on a podcast,
not the earnings call.

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

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.