The Number That Matters: 7,600

The S&P 500 closed above 7,600, according to the Financial Post and Bloomberg. That is a new record. The nine-day winning streak ties the longest run since 1995 — a benchmark that per Benzinga's June 2, 2026 analysis preceded a sustained multi-year bull run.

Marvell Gets the Jensen Huang Rocket

The single biggest story inside this rally: Marvell Technology spiked 33% in a single session, according to the Financial Post. The reason? Nvidia CEO Jensen Huang publicly predicted Marvell will hit $1 trillion in market value. That is an extraordinary public endorsement from the most powerful figure in the AI chip space.

Hewlett Packard Enterprise also jumped after raising its AI-fueled sales forecast, per the Financial Post. These are specific companies booking specific revenue tied to the infrastructure buildout.

The Chipmaker Index Ran Nearly 6%

A broader gauge of chipmakers rose nearly 6% in the session, per the Financial Post. This is a sector-wide repricing of AI infrastructure expectations.

Louis Navellier, a veteran market strategist, told the Financial Post: "Tech continues to dominate the market. The trend remains positive, with the catalyst for further material gains possible with a resolution with Iran."

Iran Is Still In the Equation

The geopolitical layer carries weight. President Trump said the U.S. and Iran have been "continuously" talking, including on the day of the rally, according to the Financial Post. Iran's Mehr news agency reported officials in Tehran are discussing a "final text" to send to Washington.

U.S. crude settled near $94 in a volatile session. If that number comes down — which it would in any ceasefire scenario — it relieves pressure on inflation and potentially gives the Fed room to maneuver. Bret Kenwell at eToro told the Financial Post: "There's hope that energy prices will retreat after a geopolitically charged surge in the first quarter, allowing the Fed to stay on hold while inflation eases in the second half of the year."

Where Smart Money Is Moving Right Now

Virtus Investment Partners' Joe Terranova told CNBC's Halftime Report he recently bought Twilio and Generac — both AI infrastructure plays. Twilio is up roughly 60% year to date. Generac has more than doubled in the same period. Terranova's framing: "Strong momentum, strong fundamentals."

BMO's Brian Belski told CNBC he bought American Airlines, Hyatt Hotels, Dick's Sporting Goods, Academy Sports, and Eversource Energy — the last of which he called an AI power play with nearly a 5% dividend yield.

Stephanie Link, chief investment strategist at Hightower Advisors, told CNBC she likes Alcoa, up over 58% year to date, citing her projection that aluminum demand will grow 40% between now and 2030.

BlackRock Isn't Hitting the Panic Button

Rick Rieder, who manages roughly $2.4 trillion in assets for BlackRock, addressed the dotcom bubble comparison directly at the CNBC CEO Council Summit in Washington, D.C. His verdict: he's "a bit more relaxed" this time.

Why? "You're talking about 20%-plus earnings growth, that is incredible," Rieder told CNBC's Scott Wapner. He also pointed to massive buyback activity, a large IPO calendar, and 6% to 7% yield available in fixed income without taking on significant risk. His conclusion: "I think you gotta stay in it."

Rieder is not calling for outsize gains — he said the market will "probably continue to do okay." That's a meaningfully different statement than "buy everything."

The Larger Context

Crude oil at $94 is a real cost hitting real businesses and real consumers. The Iran situation is not resolved. It's in late-stage talks. There is a material difference between "discussing final text" and a signed deal.

Yahoo Finance and Bloomberg reporting from October 2025 noted a government shutdown was already in its sixth day during an earlier stretch of this bull run — and markets shrugged it off. This market has repeatedly chosen to ignore macro risks.

The 1995 comparison warrants scrutiny. What followed 1995's streak was a massive bull run — but it was also the run-up to the dotcom crash of 2000.

What This Means for Regular People

If you have a 401(k) or index fund, you are sitting on serious gains right now. The S&P 500 at 7,600 is not a number anyone was betting on confidently a year ago.

AI infrastructure spending is real money — hundreds of billions of dollars flowing through Nvidia, Marvell, Hewlett Packard Enterprise, and dozens of second-tier names. If even a fraction of those bets hit, the earnings growth Rieder is pointing to is sustainable.

If Iran talks collapse and oil spikes further — or if one big AI earnings miss triggers a cascade — this streak ends fast. Nine days straight is impressive. It is not a guarantee of day ten.

The data is good. Stay eyes-open.