CNBC Business News Update - Market Midday: Stocks Higher, More Job Openings Were Posted In April, Today Nvidia Is World's Most Valuable Company 6/3/25

Episode Date: June 3, 2025

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 by CNBC's Jessica Ettinger.

I'm Jessica Ettinger, CNBC. Wall Street is higher this afternoon. Investors shaking off the Organization for Cooperation and Development downgrading the U.S. growth outlook. The Dow up 136 points, three-tenths of a percent. Nvidia shares leading it higher. Nvidia soaring up three percent this afternoon. The S&P 500 index up 30 points, that's a half percent. The NASDAQ is up 156 points, eight tenths of 1%. Companies whose shares have hit fresh all-time highs today include Netflix, booking holdings, Olive Garden Parent Darden restaurants,

Philip Morris All-State Travelers Waste Management, and CrowdStrike. More job openings were posted in April in the U.S. Job opening labor turnover for April comes in at $7,391,000, sequentially above slightly revised $7.2 million in the rearview mirror. That is the best since just February. That's CNBC's Rick Santelli. Factory orders came in lower than expected for April.

NVIDIA has overtaken Microsoft to become the world's most valuable company. Microsoft, meantime, cut hundreds more employees yesterday. CNBC Med Money host Jim Cramer and Carl Quintanilla have a take on AI replacing people. We keep seeing these people laid off by Microsoft. Do you think that that's just because they don't have a lot of business? It's because they have so much business they need the machines, which are better. Why do we need all these expensive people when we have something that is smaller than us? So the Microsoft layoffs you mentioned, another 300, they just laid off 6,000,

that was the biggest in years you think it's a large part because of this. I think that you know when you don't say why you're laying people off and you're doing fairly well, I'm saying that those people are the equivalent as we said it Goldman Sachs deadwood meta needs a lot of power and it may have found a nuclear source. Meta is inking a nuclear power deal with Constellation Energy, signing a 20-year agreement to buy all of the power generated at Constellation's Clinton

Clean Energy Center in Illinois, which has one nuclear reactor beginning in 2027. Without the backing, the plant would have been in danger of closing in two years. This nuclear plant is not going to power a meta data center directly. Instead, it will continue to power the regional grid while helping meta reach its goal of 100% clean electricity. CNBC's Pippa Stevens. More Americans than ever are polyworking. That's the term for having a side hustle or two in addition to a regular full-time job. Government job cuts, a tariff trade war and volatile stock market have people nervous about income and the New York Times says the number of people working

multiple full or part-time jobs is now pushing nine million for the first time in more than 30 years. I'm Jessica Edinger, CNBC. Michael Jordan is the only guy who can compare in terms of confidence. When you're Steph Curry, there's brand value there, there's brand awareness. Curry Inc. The business of Steph and Curry. Premieres Wednesday, 9 Eastern and Pacific. Only on CNBC.