Zaid Mani

public.com presents the rundown your daily market update in 10 minutes my name is zadad mani 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 and 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 was in talks with them and Samsung.

to manufacture chips here in the US.

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 gonna 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.