Nasdaq Jumps to New High on AMD Earnings: Stock Market Today

Why It Matters

The rally highlights how geopolitical de‑escalation and strong labor market signals can lift risk‑on sentiment, while AMD’s AI‑chip surge reinforces the sector’s pivotal role in the next wave of computing growth.

Key Takeaways

• Nasdaq closed at 25,838, up 2%, marking second consecutive record high
• AMD earnings beat expectations; revenue $10.3 billion, shares jump 18.6%
• ADP private payrolls rose 109,000 in April, strongest since early 2025
• WTI crude fell 7% to $95 per barrel, lowest since April 24

Pulse Analysis

The market’s upward swing on Wednesday was anchored by a rare convergence of macro and micro catalysts. A tentative agreement between the United States and Iran to reopen the Hormuz Strait eased geopolitical risk, while a surprisingly strong ADP payroll report—109,000 new private jobs in April—reinforced confidence in the labor market. The resulting optimism helped the Nasdaq and S&P 500 post back‑to‑back record closes, even as oil prices tumbled 7% to $95 a barrel, the lowest level since late April, further supporting risk‑on equities.

AMD’s earnings release stole the spotlight, delivering a 38% revenue jump to $10.3 billion and nearly doubling year‑over‑year earnings per share. The AI‑chip maker also raised its full‑year outlook, prompting analyst Jim Kelleher to lift his price target to $450. CEO Lisa Su’s projection that the server CPU market will expand at least 35% annually through 2030—driven by “Agentic AI” workloads—signals a massive, long‑term demand tailwind for high‑performance silicon. This positions AMD to capture market share from both Intel and Nvidia, accelerating the broader AI hardware race.

Despite the overall rally, the day was not uniformly positive. Klaviyo’s shares plunged 32% after earnings, reflecting investor caution over rising AI‑related costs and a CFO departure, even as the company beat forecasts. Meanwhile, the divergence between ADP’s robust payroll numbers and the pending government jobs report underscores lingering uncertainty about the sustainability of the hiring surge. Investors will watch upcoming non‑farm payroll data and any final details of the Iran‑U.S. deal for clues on whether the current bullish momentum can be maintained into the next trading week.