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Nasdaq hits record, Dimon's retirement hint drags down Dow, Microsoft launches Copilot+ PC Here’s what you need to know today: #CNBCMarkets Nasdaq hits all-time high The Nasdaq Composite rose to an all-time intraday high and a record close, led by tech heavyweights Nvidia and Microsoft. ➡️ Read more #CNBCBusiness Dimon hints at retirement JPMorgan Chase CEO Jamie Dimon said his retirement "timetable is not five years anymore," indicating for the first time that the day he steps down is getting closer. ➡️ Read more #CNBCTech Microsoft launches Copilot+ PCs Microsoft CEO Satya Nadella introduced a new range of PCs powered by advanced chips designed to run artificial intelligence without quickly draining battery life. ➡️ Read more #CNBCTech Hims & Hers soars Shares of digital pharmacy Hims & Hers surged as much as 30% after announcing plans to sell compounded GLP-1 weight loss injections. ➡️ Read more #CNBCPolitics Trump Media’s $327.6 million loss Trump Media & Technology Group, the parent company of Donald Trump’s Truth Social platform, posted a first-quarter loss of $327.6 million. ➡️ Read more The bottom line As Wall Street soars from one high to another, strategists must be wondering, with all the models they have at hand, what's going wrong. Morgan Stanley's Mike Wilson is just one of them. He revised his prediction upward after expecting the S&P 500 to fall to 4,500 by the end of the year. The S&P 500 closed at 5,308 on Monday Fed Vice Chair Philip Jefferson warned Monday that inflation is not cooling quickly enough to warrant interest rate reductions. Jefferson said Fed economists have calculated that core inflation, as measured by the central bank's preferred personal consumption expenditures price index, rose at a 4.1% annual pace in the first four months of 2024, above the 2% target. Sign up for the CNBC Daily Open newsletter.

#CNBCMarkets Europe markets close higher European stocks closed slightly higher on Monday, after a strong run of gains stumbled at the end of last week. ➡️ Read more #CNBCPolitics What's next for Iran? The sudden death of Iranian President Ebrahim Raisi in a helicopter crash plunges Tehran into fresh uncertainty as it faces deep economic decline, popular discontent and war. ➡️ Read more #CNBCTech Britain expands AI Safety Institute to San Francisco The British government is expanding its facility for testing “frontier” AI models to the U.S. to further its image as a top global player tackling the risks of the tech. ➡️ Read more #CNBCEarnings Ryanair posts record annual profit Low-cost carrier Ryanair on Monday reported its best-ever annual profit, as passenger and revenue growth offset sharply higher operating costs. ➡️ Read more #CNBCPro The next big takeover target Atlantic Investment founder Alexander Roepers says a certain oil services stock is set to soar. ➡️ Read more Follow us on @CNBCi

Iran's president killed in helicopter crash Iranian President Ebrahim Raisi and Foreign Minister Hossein Amirabdollahian died in a helicopter crash, state media reported Monday. ➡️ Read more #CNBCPolitics Follow us on @CNBCi

Dow closes at record high above 40,000, Can Nvidia power Wall Street higher?, GameStop shares crash  Here’s what you need to know today: #CNBCMarkets Dow settles above 40,000 The Dow closed above the 40,000 mark for the first time in history. ➡️ Read more #CNBCTech Tesla layoffs continue Tesla is cutting approximately 600 more employees across its manufacturing facilities and engineering offices in California. ➡️ Read more #CNBCTech AI start-up raises billions CoreWeave, an AI infrastructure startup powered by Nvidia's chips, raised $7.5 billion in debt financing led by Blackstone, following a recent $1.1 billion equity round. ➡️ Read more #CNBCMarkets GameStop tanks GameStop shares dropped nearly 20% after announcing plans to sell additional shares. ➡️ Read more #CNBCWorld Iran’s president in helicopter ‘crash landing’ A helicopter carrying Iranian President Ebrahim Raisi has suffered a “crash landing,” state media reported on Sunday. ➡️ Read more The bottom line What OpenAI demonstrated at the start of the week was a huge step in human-computer interaction. The AI agent, with uncanny realism, easily translated from Italian to English. All this wouldn't be possible without Nvidia — its powerful graphics chips are what's needed to provide the computational capacity to drive these AI models — and it reports earnings on Wednesday after the bell. If Wall Street struggles for momentum, this $2.3 trillion behemoth will be closely watched to see how much demand there is for more of its powerful chips and if generative AI is more than just another dotcom bubble.  Sign up for the CNBC Daily Open newsletter.

Dow briefly tops 40,000 for the first time, Meme stocks down but not out, Figma employees to cash in at $12.5 billion valuation Here’s what you need to know today: #CNBCMarkets Dow breaks through 40,000 barrier The Dow briefly passed the 40,000 mark for the first time before ending lower. ➡️ Read more #CNBCBusiness Attracting wealthy customers Walmart, the biggest discount retailer, beat quarterly earnings and revenue expectations as more high-income customers sought bargains. ➡️ Read more #CNBCBusiness Under-performing Athletic apparel company Under Armour plans to cut jobs as part of a restructuring program after reporting fiscal fourth-quarter profit slumped 96%. ➡️ Read more #CNBCTech Figma employees cash in Figma will allow investors, past and present employees to sell shares in a tender offer that values the cloud-based design tool company at $12.5 billion. ➡️ Read more #CNBCMarkets Meme retreat continues GameStop and AMC continued to retreat for a second day following a speculative rally after the reappearance of “Roaring Kitty” on social media at the beginning of the week. ➡️ Read more The bottom line Year to date, the U.S. government has spent $855 billion more than it has collected in taxes for this fiscal year, according to the U.S. Treasury Department. For fiscal 2023, the government's deficit spending came in at $1.7 trillion. But all this spending, in part, as JPMorgan Chase CEO Jamie Dimon says, is pushing up inflation. Wednesday's consumer price index showed inflation cooling somewhat in April. However, the consequences have been far-reaching for the real economy. Sign up for the CNBC Daily Open newsletter.

#CNBCMarkets Europe markets close lower European stocks closed lower as earnings weighed on a relief rally for global markets following softer-than-expected U.S. inflation data. ➡️ Read more #CNBCMarkets Gold, silver and platinum's red-hot rally Strategists say the precious metals could continue to hit fresh record highs over the coming months. ➡️ Read more #CNBCTech Meta’s EU child safety probe Facebook parent company Meta was hit with a major investigation from the EU into risks of its platforms to minors. ➡️ Read more #CNBCEntertainment Taylor Swift’s UK economy boost Barclays says Taylor Swift fans are expected to spend over $1,000 on average to see the singer on the U.K. leg of her Eras Tour. ➡️ Read more #CNBCMarkets Markets geopolitical risk Markets may be underestimating the potential for sudden destabilization due to geopolitics, the vice-president of the European Central Bank said. ➡️ Read more Follow us on @CNBCi

Slovakia’s PM no longer in life-threatening condition Slovakia’s populist Prime Minister Robert Fico is expected to survive a multiple-shot assassination attempt following surgery, according to the country’s deputy prime minister. ➡️ Read more #CNBCPolitics Follow us on @CNBCi

S&P 500 closes at record high, Inflation data increases rate cut expectations, Meme stock rally fizzles Here’s what you need to know today: #CNBCMarkets Wall Street hits record high The S&P 500 and the Nasdaq rose to record highs after inflation data came in lower than expected. The Dow jumped 350 points as investors bet the Fed may cut rates in September. ➡️ Read more #CNBCEconomy Inflation eases April’s consumer price index rose 0.3%, slightly less than expected, while on a 12-month basis, inflation increased 3.4% in line with economists’ forecasts. ➡️ Read more #CNBCMarkets Meme stock rally fizzles Shares of GameStop and AMC slumped more than 18% each amid signs of the meme frenzy petering out. ➡️ Read more #CNBCPolitics 12-second crypto heist The Department of Justice indicted two brothers for allegedly stealing $25 million in cryptocurrency within roughly 12 seconds, raising concerns about the “integrity of the blockchain.” ➡️ Read more The bottom line For the first time this year, inflation cooled more than expected, propelling stocks to record highs. Notably, the S&P 500 achieved this feat in just 48 days, compared to 746 days previously. And that was despite an ugly April, which had sent the Dow, S&P 500 and Nasdaq down more than 4% each. Sign up for the CNBC Daily Open newsletter.

#CNBCMarkets Europe markets close higher European markets closed higher as global investors digested a cooler-than-expected U.S. inflation print. ➡️ Read more #CNBCPolitics Israel’s Netanyahu stands firm on Rafah offensive Israeli PM Netanyahu acknowledged tensions over the military offensive in Rafah, but stood firm that the operation is required to protect Israeli security. ➡️ Read more #CNBCMarkets Jamie Dimon urges the U.S. to deal with its deficit JPMorgan Chase CEO Jamie Dimon urged the U.S. to reduce its fiscal deficit sooner rather than later. ➡️ Read more #CNBCPolitics Slovak PM Fico in ‘life-threatening’ condition after being shot Slovakia’s populist PM Robert Fico was shot multiple times in an assassination attempt. ➡️ Read more #CNBCPro Goldman's favorite stocks with 50% or more upside CNBC Pro scoured Goldman’s May conviction lists for stocks with further upside of 50% or more, based on the bank’s price targets. ➡️ Read more

Putin wants 3 things from Xi, analyst says Russian President Vladimir Putin’s meeting with Chinese leader Xi Jinping in China this week is the latest sign of deepening strategic ties between both sides. ➡️ Read more #CNBCPolitics Follow us on @CNBCi