CNBC Business News Update - Market Open: Stocks Higher, Dell Shares Drop, Business Leaders on Trump Conviction 5/31/24

Episode Date: May 31, 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 is higher on this final morning of May trading. As the latest inflation data came in, at its softest since last November, bond yields were lower. The Dow is up 117 points, the S&P 500 index up 16 points, and the Nasdaq now up 27 points this morning. The PCE, Personal Consumption Expenditures, report for April shows core inflation running at a 2.7% annual rate. That was as expected. Pretty much in line. This idea, I think, that we had this spike

in January through March, and it seems to have eased off, I think is a story that remains intact. CNBC Senior Economics Reporter Steve Leisman. Dell technology shares were plunging in early trading after its first revenue increase since 2022 wasn't enough to impress investors. With the criminal conviction of Donald Trump, business leaders starting to sit up and speak out.

People are so focused on their pocketbook and their self-interest and not really thinking about democracy, the total country. I'm concerned about what Donald Trump stands for. I mean, I think it stands for issues that concern me and concern my children and grandchildren, and I worry about it. Primetime Partners founder and venture capitalist Alan Patricoff on CNBC, and one pollster tells CNBC voters say they're willing to overlook a criminal conviction. More people donated to Donald Trump in the last, what is it, 15 hours than at any point in the campaign. They are so mobilized and so energized. Even so, they're not going to defend him because of his behavior. They're going to defend him because of his policies in his in the inflation and immigration in these various policies that he's advocating. algorithm for its 170 million American users that could result in a version that operates

independently of its Chinese parent. The reports from Reuters, but TikTok says it's false. New in theaters, Roadside's comedy Summer Camp and Crunchyroll's animated Haikyuu Dumpster Battle. Tonight's Mega Millions jackpot is more than a half billion dollars at 522 million. Jessica Ettinger, CNBC. I just love this game. So excited to share with the world. The Olympics from Paris starts July 26th on NBC and Peacock.