Zaid Admani

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Public.com presents The Rundown, your daily market update in under 10 minutes.

My name is Zaid Admani, and today is Thursday, April 2nd.

In today's episode, we'll tell you why oil is surging following Trump's speech last night.

We'll also break down SpaceX's confidential IPO filing and take a look at Tesla's Q1 delivery numbers.

Then stick around to the end of the show for some more space talk.

We got a great show for you today.

Let's go.

Stocks continued to rally on Wednesday with the S&P jumping 0.7% and the NASDAQ jumped 1.2%, capping the best two-day stretch for the NASDAQ since May of last year.

The rally yesterday was driven by two things.

First, it was strong economic data.

Retail sales came in above expectations of 0.6% in February, which gave investors more confidence that the consumer is still holding up.

Now, to be fair, this data was before oil prices surged, so the March retail sales data will be a lot more interesting.

Speaking of oil, the second reason for the rally yesterday was investor optimism that the Iran war was winding down.

Oil actually fell below $100 a barrel for the first time in a week, and that got everyone excited.

Well, last night, a lot of that excitement went away after President Trump's speech regarding the Iran war.