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Nasdaq rises to record close, Google launches new AI model, Meme stocks extend gains Here’s what you need to know today: #CNBCMarkets Wall Street up, awaits inflation data U.S. markets advanced ahead of a crucial inflation report on Wednesday, despite April’s producer price index coming in hotter than expected. ➡️ Read more #CNBCMarkets Meme craze cools Shares of GameStop and AMC rose on Tuesday, extending Monday’s gains after “Roaring Kitty” made a reappearance. ➡️ Read more #CNBCTech Alibaba sinks Profit at e-commerce giant Alibaba fell 86% to 3.3 billion yuan ($456 million) in its fiscal fourth quarter. ➡️ Read more #CNBCPolitics Biden’s China tariffs The Biden administration sharply increased tariffs on $18 billion of Chinese imports, aimed at protecting U.S. industries and jobs. ➡️ Read more #CNBCEconomy Powell: Inflation falling slowly Fed Chair Jerome Powell said inflation was not slowing as quickly as anticipated, requiring the central bank to maintain its current interest rates for longer. ➡️ Read more The bottom line Sam Altman's OpenAI raised the bar for AI Assistants on Monday — a move that could spell the end of Siri and Alexa. In a demonstration, it effortlessly translated Italian to English on an Apple iPhone, and even solved a difficult math problem. Under pressure from OpenAI, Google announced its most powerful AI model on Tuesday. While the United States leads in AI, it has fallen behind in electric vehicle technology. As widely reported, President Joe Biden imposed tariffs on Chinese EVs and other technology products. While China has yet to sell a single EV in the United States, luxury Chinese EV brand Zeekr raised $441 million in its U.S. IPO last week. Sign up for the CNBC Daily Open newsletter.

#CNBCMarkets Europe markets close higher European stocks closed slightly higher on Tuesday as global investors reacted to the latest U.S. inflation data. ➡️ Read more #CNBCMarkets Meme stock craze returns Shares of GameStop jumped Tuesday, extending the meme stock rally started by the first online post from “Roaring Kitty” in three years. ➡️ Read more #CNBCPolitics Georgia passes ‘Russia-style’ law on foreign influence Georgian lawmakers on Tuesday passed a highly controversial “Kremlin-style” law on foreign influence, despite massive protests and repeated warnings from the U.S. and European Union. ➡️ Read more #CNBCPolitics EU hits out at China Mark Gitenstein, the U.S. ambassador to the EU, said China is deliberately distorting markets with cheap goods. ➡️ Read more #CNBCPro These 3 ETFs have risen by double-digits every year for the past 5 years Only three ETFs worldwide have produced double-digit annual returns in the past five years, CNBC Pro has found. ➡️ Read more Follow us on @CNBCi

Dow ends longest winning streak of 2024, GameStop soars as 'Roaring Kitty' returns, Novavax extends gains  Here’s what you need to know today: #CNBCMarkets Dow snaps winning streak The Dow fell for the first time in nine days on inflation concerns. ➡️ Read more #CNBCMarkets Roaring Kitty’s back Shares of GameStop more than doubled after the man who inspired the meme-stock mania of 2021 posted online for the first time in three years. ➡️ Read more #CNBCTech Squarespace goes private Private equity firm Permira has agreed to acquire website-building platform Squarespace in an all-cash $6.9 billion deal. ➡️ Read more #CNBCTech New AI model GPT-4o OpenAI has released GPT-4o, a new AI model and desktop version of ChatGPT, as it steps up competition with rival Google. ➡️ Read more #CNBCBusiness Novavax soars After its stock almost doubled on Friday, Novavax rose another 50% on Monday as doubts over its ability to stay afloat faded. ➡️ Read more The bottom line Hedge funds shorting GameStop must have woken up on Monday morning and probably thought they had been transported back to the nightmare of January 2021. One cryptic post from Roaring Kitty — who in 2021 had retail investors on the Reddit forum r/WallStreetBets to bet against short sellers — was enough to recharge GameStop.    Sign up for the CNBC Daily Open newsletter.

S&P 500 closes in on record high, Zeekr soars 35% on debut, Novavax almost doubles on Covid jab deal Here’s what you need to know today: #CNBCMarkets Dow’s best week this year The Dow had its best week of 2024, rising for the eighth consecutive session on Friday. ➡️ Read more #CNBCBusiness Shot in the arm Novavax shares nearly doubled on Friday after it announced a multi-billion-dollar deal with Sanofi to commercialize its COVID-19 vaccine. ➡️ Read more #CNBCTech Google challenger OpenAI is reportedly planning to announce its AI-powered search product on Monday, directly challenging Google's dominance in the search engine market. ➡️ Read more #CNBCTech Altman’s Oklo sinks Sam Altman, CEO of OpenAI, saw the shares of his first publicly traded company, Oklo, sink more than 54% on Friday. ➡️ Read more #CNBCBusiness Zeekr pops Shares of Zeekr, the premium EV brand owned by China's Geely, soared nearly 35% on their first day of trading on the NYSE. ➡️ Read more The bottom line The front end of this week is rather loaded with geopolitical intrigue and AI developments. Add to that the question: can the Dow, enjoying its longest win streak going back to December, climb even higher? That will almost certainly depend on this week's inflation data. Sign up for the CNBC Daily Open newsletter.

#CNBCMarkets Europe stocks close at fresh record highs European markets closed higher as positive momentum continued into the end of the week. ➡️ Read more #CNBCMarkets U.K. economy emerges from recession The U.K. economy has emerged from recession as GDP rose 0.6% in the first quarter, official figures showed, beating expectations. ➡️ Read more #CNBCTech Climate protesters try to break into Tesla’s Germany factory Climate protesters angry about Tesla’s plans to expand its German Gigafactory tried to break into the plant, said local police. ➡️ Read more #CNBCPolitics Biden and Netanyahu’s fraught relationship hits new low American diplomat Richard Haass described the stunning declaration by U.S. President Joe Biden that his administration would stop supplying certain weapons to Israel as "an earthquake." ➡️ Read more #CNBCPro Morgan Stanley names tech stocks set for a boost The global semiconductor industry is set for a “transformation,” according to Morgan Stanley. ➡️ Read more Follow us on @CNBCi

Traders reassess Bank of England rate cuts A slew of commentary from the Bank of England and a better-than-expected economic growth number have left traders and investors scrambling to refine their bets on when the U.K. central bank will start to cut its benchmark rate. ➡️ Read more #CNBCEconomy Follow us on @CNBCi

Dow records seven-day winning streak, U.S. jobless claims spike, Trump Media insider trader convicted Here’s what you need to know today: #CNBCMarkets Seven up The Dow rose for the seventh straight day, adding nearly 9% after the latest jobs data raised hopes of a rate cut. ➡️ Read more #CNBCBusiness Streaming growth Warner Bros. Discovery, the owner of MAX streaming service, TNT and Discovery channels, missed earnings expectations. ➡️ Read more #CNBCEconomy Rate cut hopes Initial claims for U.S. unemployment benefits jumped to the highest level since August 2023. ➡️ Read more #CNBCBusiness Staying in China General Motors believes it can regain market share in China, GM President Mark Reuss said, after it hit a near 20-year low last year. ➡️ Read more #CNBCPolitics Trump Media investor convicted An investor has been convicted of insider trading in a stock of a shell company that went on to merge with Trump Media. ➡️ Read more The bottom line Tech investor Paul Meeks appeared on "Squawk Box" Thursday morning to discuss investing in Artificial Intelligence. When asked which of the "Magnificent Seven" tech stocks he favored, he mentioned five — and excluded Apple. This isn't surprising, as Apple hasn't yet fully shown its hand in the AI domain. Sign up for the CNBC Daily Open newsletter.

#CNBCMarkets European stocks close higher European markets closed higher as positive momentum was maintained on a busy week of earnings. ➡️ Read more #CNBCMarkets Bank of England holds rates The Bank of England held interest rates as expected and said restrictive monetary policy was taming inflation, but warned a June rate cut was not a done deal. ➡️ Read more #CNBCBanks A rare hostile takeover bid in Europe’s banking sector Spanish bank BBVA caught markets by surprise after it announced a rare hostile takeover bid for domestic rival Banco Sabadell. ➡️ Read more #CNBCTransportation Boeing cargo plane lands without front nose gear An investigation is underway after a FedEx Airlines Boeing 767 cargo plane was forced to make an emergency landing at Istanbul Airport. ➡️ Read more #CNBCPro 4 global stocks that tend to rise with Nvidia Four stocks in the Stoxx Europe 600 index tend to rise alongside Nvidia shares, according to an analysis of share price data by CNBC Pro. ➡️ Read more Follow us on @CNBCi

Chip designer Arm’s shares plunge nearly 9% Shares of British chip designer Arm fell 8.8% in premarket trading, as lackluster revenue guidance clouded a positive sales quarter driven by demand for artificial intelligence applications. ➡️ Read more #CNBCTech Follow us on @CNBCi

#CNBCMarkets Europe markets close higher European markets closed higher as investors digested more earnings reports in the region. ➡️ Read more #CNBCTech EU seeks information from X on content moderation The EU is seeking information from X about cuts to its content moderation resources under its tough new laws governing online content. ➡️ Read more #CNBCWealth London’s elite Garrick Club votes to allow women Britain’s exclusive all-male Garrick Club reportedly voted to permit women to join for the first time in its 193-year history. ➡️ Read more #CNBCMarkets Siemens Energy shares jump after guidance raise Siemens Energy shares soared as much as 13% after the German renewables firm raised its forecast for the year. ➡️ Read more #CNBCPro These global tech stocks have beaten the S&P 500 this year U.S. stocks have been rather volatile in the past month, but in the past week they had a strong run on hopes of rate cuts. ➡️ Read more Follow us on @CNBCi