MRKT MATRIX: June 7, 2024

Today’s Top Stories:

• S&P 500 hovers near record, heads for winning week (CNBC)

• Treasury Yields Surge as Jobs Spark Rethink on Fed (Bloomberg)

• JPMorgan, Citi Scrap Fed Rate-Cut Bets for July After Jobs Data (Bloomberg)

• BofA’s Hartnett Says Fed Cut Could Signal Trouble for Economy (Bloomberg)

• Nvidia's Stock Split: What Investors Should Know (WSJ)

• Nvidia is one of the most overbought stocks on Wall Street. Here are the rest (CNBC)

• TSMC’s May Sales Rise 30% as Countries Race to Secure AI Chips (Bloomberg)

• Apple's AI story is still a rough draft (Axios)

• GameStop tumbles 40% as ‘Roaring Kitty’ trader says little new about retailer on livestream (CNBC)

• GameStop shares drop after retailer posts 29% sales decline, reveals stock sale plan (CNBC)

• Long-Range EVs Now Cost Less Than the Average New Car in the US (Bloomberg)

• It’s a Buyer’s Market for Boats, RVs and Other Pandemic Toys (WSJ)

• China’s Exports Surge as Trade Tensions Near Boiling Point (NYT)

• At End of Trump Tax Cuts, Progressives See Leverage to Target the Rich (WSJ)

• Trump Tax Cut Renewal Is Winning Wall Street, But Could Cost $4.6 Trillion (Bloomberg)

Today’s On The Tape is Presented by CME Group and iConnections

Market Highs, Are You Not Entertained?

Guy Adami and Danny Moses are holding down the fort this week as they dissect a massive week in markets.Topics on the pod include: Nvidia briefly hitting a $3 trillion market cap (2:00), The Case Against Elon Musk’s $46 Billion Pay Deal & his moving of chips between Tesla and xAI (11:00), broad moves in the stock market (15:00), the haves & have-nots of the retail sector (20:00), Sternlicht defends gating Starwood REIT withdrawals (22:00), what the market is rooting for & the death of short selling (28:30), technical glitches wreck havoc on markets (31:00), Gamestop (34:30).

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