Peace Talks Power a Risk-On Rally | Daily Market Recap

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Kristal Research Desk

Kristal.AI

21 May3 min

Key takeaways — AI summary

A potential easing of Middle East tensions drove a risk-on rally, with President Trump describing Iran talks as being in their "final stages" and three supertankers crossing the Strait of Hormuz for the first time since the war began.
Oil crashed 5.7% below $100 to $98, while the S&P 500 rose 1.08% to 7,433 and the Nasdaq gained 1.66%.
The CPU trade reactivated on agentic AI momentum: ARM jumped 14% as BofA projected 44% CPU market share by 2030, with AMD up 14%, Intel up 7%, and Astera Labs up 17% on Trainium momentum.
Nvidia reported in-line results after hours, guiding to $91B with an $80B buyback; SpaceX filed for an IPO targeting a $75B raise at a $1.75T+ valuation; and Intuit cut its outlook and announced a 17% workforce reduction.

Generated by Kristal AI · reviewed by the research desk

Your 3-minute daily market update - simplified for busy investors.

Today: Trump says Iran talks in "final stages" as three supertankers cross Hormuz for the first time since war began, oil crashes -5.7% below $100 to $98, S&P 500 surges +1.08% to 7,433, Nasdaq jumps +1.66%, ARM breaks out +14% as BofA sees 44% CPU market share by 2030, AMD +14% and Intel +7% as agentic AI reactivates the CPU trade, Astera Labs rockets +17% on Trainium momentum, Nvidia reports in-line after hours with $91B guidance and $80B buyback, SpaceX files IPO targeting $75B raise at $1.75T+ valuation, and Intuit cuts outlook and slashes 17% of workforce.

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