Carl Quintanilla, Jim Cramer and David Faber focused on the S&amp;P 500 and Nasdaq hitting record highs — and crude oil prices falling — on a published report that says the White House believes it&#x27;s nearing an agreement with Iran on a memorandum of understanding to end the war. The AI trade: AMD CEO Lisa Su joined the program exclusively to discuss the chipmaker&#x27;s quarterly beat and guidance that lifted the stock to a new all-time high. Also in focus: Nvidia-Corning AI partnership, Disney jumps on Q2 results, bookings guidance boosts Uber shares.<br><br>Squawk on the Street Disclaimer<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks Hit Record Highs, Oil Tumbles on Iran Deal Hopes, AMD CEO Exclusive 5/6/26

Squawk on the Street

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**Podcast:** Squawk on the Street

## Transcript

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[SPEAKER_D] Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer. David Faber is back at Post 9 of the New York Stock Exchange. Oil is plunging this morning, down 10% plus at the session lows on hopes that Iran will agree to this reported proposal to reopen the Strait of Hormuz. Futures sharply higher as well on the best ADP print in more than a year, 109K, plus strong results from Disney, Uber, and tons of news in semis. Our roadmap begins with futures rallying, oil plunging as the U.S. and Iran reportedly considering an agreement to end the war.

[SPEAKER_C] Plus, Disney's out with its first earnings under new CEO Josh D'Amaro, getting a boost from its streaming and theme park units. We're going to dig through the quarter. And it is the mover of the morning. AMD shares, they are up a lot. Earnings beat hitting another all-time high as well for the stock. We're going We're going to speak exclusively to that lady right there, of course, Lisa Su. That's just a few minutes from now.

[SPEAKER_D] Let's begin with the developments with the war. Axios reporting the White House believes it's nearing an agreement with Tehran on a one-page memorandum of understanding to end the war. Axios reporting the White House believes it's nearing an agreement with Tehran on a one-page memorandum of understanding to end the war. That MOU would also mark the start of a 30-day period negotiations on a detailed agreement to open the strait, limit Iran's nuclear program, and lift U.S. sanctions. Iran's restrictions on shipping through the strait and the U.S. naval blockade would be gradually lifted during those 30 days. That's according to a U.S. official. Meantime, a spokesperson for Iran's foreign ministry telling CNBC...

Stocks Hit Record Highs, Oil Tumbles on Iran Deal Hopes, AMD CEO Exclusive 5/6/26

Transcript

Built for investment professionals

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

Stocks Hit Record Highs, Oil Tumbles on Iran Deal Hopes, AMD CEO Exclusive 5/6/26

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.