Argus

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May 07, 2026

Intermediate Term

Long Term

Summary

Ed Yardeni, president of Yardeni Research, recently described the stock market as moving (in "Toy Story" fashion) "to infinity and beyond." On Wednesday, the major indices rose another 1.5%-2.1% and printed their second straight upside price gap, this as the AI train continues to roar down the track. Once again, the scorching semiconductor stocks led, ripping 5% higher based on the SMH and SOXX ETFs, as well as the Dow Jones Semiconductor Index.

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