CNBC Business News Update - Market Close: Stocks Higher, Nvidia Now World's Biggest Company, Boeing CEO Slammed On Capitol Hill, Wall Street Closed for Juneteenth 6/18/24

Episode Date: June 18, 2024

From Wall Street to Main Street, the latest on the markets and what it means for your money. Updated regularly on weekdays, featuring CNBC expert analysis and sound from top business newsmakers. Anchored and reported by CNBC's Jessica Ettinger.

I'm Jessica Edinger, CNBC. Wall Street opens Thursday morning after the Wednesday, Juneteenth holiday with the S&P 500 index and the NASDAQ each at fresh record highs for the S&P. It was its 31st all-time high of the year. The closing numbers from Tuesday, the Dow up 56 points, the S&P 500 index up 13 points, and the Nasdaq was up five points. NVIDIA surpassed Microsoft and Apple in market cap on Tuesday to become the world's most valuable public company with a market cap of $3.3 trillion. Clearly, it's an amazing business.

And, you know, today's the day it became the largest market cap company in the world. And let's just pause again. We have like a presidential election coming up in 140 days and everyone's going to be negative about so much stuff. And pause and say, NVIDIA is an American company. Apple's an American company. Google's an American company. Microsoft's an American company. These multi-trillion dollar companies that are spending tens of billions of dollars on R&D and CapEx are doing this in America because we have the world's greatest capital markets

and we're the envy of the world. Imagine if all these companies were listed in Europe. Think about how different that world would be. Corvex Management's Keith Meister on CNBC. The CEO of Boeing blasted by a Senate panel on Tuesday. For production issues and lapses in quality, Connecticut Senator Richard Blumenthal. The whistleblowers who've come to us, we have about 12 of them so far, have told us about the use of non-conforming parts, defective or damaged parts in airplanes, continued lying to the FAA, the kind of pressure against the whistleblowers, in fact, telling them to shut up. And here's Wisconsin Senator Ron Johnson with Boeing CEO

Dave Calhoun. You said you've listened to the whistleblowers. Have you directly spoken to any of the whistleblowers? I have not directly spoken to any of the whistleblowers. Do you think that'd be a good idea to do that? Yeah, I think it would. I'd recommend it. Boeing's under fire after that door plug blew out of one of its nearly new 737 MAX planes in January. On Thursday's watch list, earnings will come from Accenture, Olive Garden, Parent Darden Restaurants, Kroger, and RV maker Winnebago. We find out how many people applied for unemployment benefits last week.

Thursday is when summer officially arrives. Kroger, the biggest pure grocery store chain in the U.S., will hand out pints of ice cream. Jessica Ettinger, CNBC. The Olympic Games are coming. But first, the best American athletes have to make Team USA. The U.S. Olympic

Team Trials on NBC and Peacock.