The stock market closed higher on Tuesday, with S&P 500 surpassing the 7,600 mark, a new all-time high. The market was continued to be driven largely by continued enthusiasm around AI and semiconductor stocks.
Overall, S&P 500 rose 0.1% to 7,610, while NASDAQ was flat at 27,094.
Tweet of the Day
Apple $AAPL iPhone Demand Stays Strong as Profits Grow a Solid 22% | https://t.co/5t5e0Xvhy0
— SchoolofHardStocks (@SchoolHardStock) June 1, 2026
Chart of the Day
Here is the one-year chart of Amazon (AMZN) as of May 13, 2026, when the stock was at $270.
AWS revenue growth accelerated to 28% year-over-year from 24% three months ago — marking its fastest growth rate in 15 quarters — while Amazon said AI revenue was already growing at triple-digit rates.
Management stated demand for AI infrastructure remained extremely strong, with Trainium AI chips largely sold out and even future Trainium generations already heavily reserved due to massive enterprise demand.
Amazon also revealed its AI backlog reached $364 billion, excluding a separate $100 billion Anthropic agreement, showing customers are committing enormous amounts of spending years in advance. To support this demand, Amazon increased capital expenditures to $43.2 billion in Q1 and indicated elevated AI infrastructure spending will likely continue as AWS scales data centers, networking, and custom silicon capacity.
Amazon is part of our Growth Portfolio and Focus List.
