Stocks Hit Record Highs, Oil Tumbles on Iran Deal Hopes, AMD CEO Exclusive 5/6/26

Squawk on the Street

CNBC

News, Investing, Business

4.0 • 566 Ratings

🗓️ 6 May 2026

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber focused on the S&P 500 and Nasdaq hitting record highs — and crude oil prices falling — on a published report that says the White House believes it's nearing an agreement with Iran on a memorandum of understanding to end the war. The AI trade: AMD CEO Lisa Su joined the program exclusively to discuss the chipmaker's quarterly beat and guidance that lifted the stock to a new all-time high. Also in focus: Nvidia-Corning AI partnership, Disney jumps on Q2 results, bookings guidance boosts Uber shares. Squawk on the Street Disclaimer

Transcript

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0:00.0	It's Jim Kramer here. You're listening to the opening bell of CNBC Squawk on the Street.
0:04.7	Don't miss a minute of the action.
0:13.3	Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kintanio with Jim Kramer.
0:16.7	David Fabers back at post-9 of the New York Stock Exchange. Oil is plunging this morning down 10% plus of the session lows on hopes that Iran will agree to this reported proposal to reopen the Strait of Ormuz.
0:28.3	Future sharply higher as well on the best ADP print in more than a year, 109K, plus strong results from Disney, Uber, and tons of news and semis.
0:38.9	Our roadmap begins with futures rallying, oil plunging, as the U.S. and Iran reportedly considering an agreement to end the war.
0:45.8	Plus, Disney's out with its first earnings under new CEO, Josh DeMorrow, getting a boost from its streaming and theme park units.
0:52.3	We're going to dig through the quarter.
0:54.0	And it is the mover of the morning. AMD shares. They are up a lot.
1:00.2	Earnings beat, hitting another all-time high as well for the stock. We're going to speak
1:04.2	exclusively to that lady right there, of course, Lisa Sue. That's just a few minutes from now.
1:09.2	Let's begin with the developments with the war.
1:11.7	Axios reporting the White House believes it's nearing an agreement with Tehran on a one-page
1:16.4	memorandum of understanding to end the war.
1:19.4	That MOU would also mark the start of a 30-day period of negotiations on a detailed
1:24.4	agreement to open the strait, limit Iran's nuclear program, and lift U.S. sanctions.
1:29.6	Iran's restrictions on shipping through the strait and the U.S. naval blockade would be gradually lifted during those 30 days.
1:36.5	That's according to a U.S. official.
1:38.4	In meantime, a spokesperson for Iran's foreign ministry telling CNBC, they are evaluating this 14-point peace proposal. Of course,
1:46.6	the president, Jim, has a summit with China coming up, and it'd be nice to have this, at least,
1:51.6	on the back burner. Yeah, and you have to wonder how much influence China has. I know that
1:55.8	the president is reluctant to think to call China the kingmaker, but David, if there's any one country that is more dependent on Iran than any is China,
	...

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