CNBC Business News Update - Market Open: Stocks Mixed, Nvidia Rebounds, Microsoft Facing EU Regulation 6/25/24

Episode Date: June 25, 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.

Hi, Jessica Edinger, CNBC. Mixed markets on Wall Street morning, trading the Dow down 54 points, but the S&P 500 index in the green up 10 points. The NASDAQ is up 91 points. The NASDAQ is coming off its worst day since April. NVIDIA shares bouncing after its worst three-day drop in a year and a half, pushing the AI chipmaker into correction territory. That's down 10% from its most recent high. Nvidia shares up 3% this morning.

Microsoft charged by the European Union with abusive bundling of teams in office, breaching antitrust rules there. Last year, the tech giant unbundled teams from Microsoft 365 to try to quiet antitrust concerns, but it didn't work. McDonald's $5 meal deal is on menus as of today. McDonald's is launching their $5 value meal. They crammed the stupid franchisees who didn't realize that if you sell more at a lower price, you can actually make it up. Provide and you sell more. Having lost a lot of business to casual and fast casual. CNBC's Carl Quintanilla with CNBC Mad Money host Jim Cramer. Here's one franchise owner on CNBC. We've certainly seen fewer customers coming to restaurants in general,

and those that do come into the restaurants are spending less money than they were spending before. California McDonald's franchise owner Scott Roderick on CNBC. Amazon having a very strong first half of the year. J.P. Morgan says it's heading for a big milestone. Amazon will surpass Walmart as the largest U.S. retailer in 2024. It's on track, they say, to capture about 45% of all e-commerce in the States with just under 10% of total retail sales. Amazon's growing faster than Walmart as well.

It's seen share gains for about the last eight quarters. JPMorgan also highlights a potential edge for Amazon when it comes to incorporating AI into online shopping. CNBC's Kate Rooney. Spotify launching a less expensive tier to try to bring in subscribers just weeks after raising prices for its premium subscription offerings. The new basic plan, $11 a month. Delta Airlines has opened its most exclusive airport lounge, Delta One, at New York's Kennedy Airport. New perks for some of the airline's highest paying customers include a lounge within a lounge for travelers with the secretive invite-only 360 status, flyers can enjoy massages, showers, and a high-end restaurant. 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.