And the NASDA. How about the Dow? We're going to try and close back above 50K. It doesn't look like we're going to get there, though. See the tomorrow brings. Send it in overtime. We do have some earnings coming with Mike and now. The bell's bringing end to the training day at the NYSC. No Kid Hungry, doing the honors. And at the NASDAQ, realloys,ak realloys closing out the day. Welcome to closing bell overtime. We're live from Studio B at the NASAC market site. I'm Melissa Lee along with Mike Santoli. It was a risk-on rally today with S&P Nazak and Russell hitting all-time highs. The NASAC up 2%. S&P up about 1.5. Semis is a standout once again on the back of strong earnings results from AMD.

We'll hear from ARM in just a few minutes.

A drop in oil and bond yields also giving a boost to equities following some positive developments on Iran peace talks.

We're going to have more on all of that just ahead.

On our radar at the close, a seemingly unstoppable semi-surge, a surprisingly resilient economy, and betting on beef.

But we've got to talk to this rally.

I mean, we had a sniff of a cease, not a ceasefire, but the end of the war.

And look what happens.

Exactly.

I mean, this is a market, we should remember, that bought the rumor of a ceasefire.

It bought the ceasefire. It

continued to buy the continued kind of stalemate part of the ceasefire. And now we have marginal

incremental developments that look like they might be positive. I think one thing the market did,

of course, is rely on the AI trade for about five or six weeks. And now it's a little bit,

it's broadening out, but it's still so dominated by semis up 5% today. I think you have to keep that. One reason I think the market has been able to kind of gather strength through what is now a historic six-week rally is it's not up that much on a six-month basis. So you have to keep in mind, we had this base. We're up like 6% on the S&P 500 since the high of the fourth quarter in October.

So that shows you that we haven't really gotten escape velocity yet.

At the same time, some stuff's crazy inside the market.

And the vertical movement, semis number one.

Since the low during the war, semis are up 40-something percent.

I mean, it's been nuts.

And Vida finally participated today. That was interesting. And also, the old sort of, the better AI is, the more

dead software is kind of trade took effect today. We did see SaaS names and the IGV under some

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