Stocks Rally, Oil Falls on Iran Deal Hopes; US Gasoline Tops $4.50/Gallon | Bloomberg Brief 5/6/2026

Watch on YouTube ↗  |  May 06, 2026 at 11:13  |  42:55  |  Bloomberg Markets
Speakers
Keith Lerner — Chief Investment Officer, Truist Wealth
Vonnie Quinn — Anchor, Bloomberg
David Savage — Editor, The Block

Summary

The video covers market reaction to reports that the US is nearing a peace deal with Iran, causing oil prices to drop and stocks to rally. Tech earnings from AMD and Super Micro push equities higher. Keith Lerner of Truist discusses tech leadership, preferring software and small caps over extended semiconductors, while also favoring emerging markets. Other topics include yen intervention speculation, Disney earnings preview, and political developments.

  • US and Iran reportedly close to a memorandum of understanding, Brent crude falls 6%.
  • Yen strengthens to 10-week high on suspected intervention; oil drop provides additional boost.
  • AMD reports strong data center revenue, shares surge.
  • Super Micro beats on margins but revenue outlook muted; stock still up.
  • Truist's Keith Lerner says tech remains leadership but semis extended; prefers software, small caps, EM.
  • Pfizer CEO discusses AI in drug development and CDC credibility.
  • Disney earnings preview: focus on streaming profitability and guidance.
  • US gasoline prices top $4.50 per gallon for the first time since 2022.
Trade Ideas
Keith Lerner Chief Investment Officer, Truist Wealth 28:19
Semis extended; not adding.
Semiconductors have strong momentum and earnings support but are extended short-term; he would not add to them now, suggesting caution.
SMH MED
Keith Lerner Chief Investment Officer, Truist Wealth 28:52
Software is leadership; prefer over semis.
Software sector is the leadership area within technology; semiconductors are extended short-term, so software is more attractive to own.
IGV MED
Keith Lerner Chief Investment Officer, Truist Wealth 28:59
Small caps acting well, not extended.
Small caps are acting very well, with industrials and small-cap tech up over 30%, and the equal-weighted S&P 600 not at a high yet, providing a potential opportunity.
IWM MED
Keith Lerner Chief Investment Officer, Truist Wealth 29:21
EM at median PE, attractive.
Emerging markets are trading around the median of historical PE, making them attractive relative to other areas.
EEM MED
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This Bloomberg Markets video, published May 06, 2026, features Keith Lerner discussing SMH, IGV, IWM, EEM. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Keith Lerner  · Tickers: SMH, IGV, IWM, EEM