CNBC Daily Open: GameStop surges, Nvidia introduces new chip
- GameStop shares soared by 21% after jumping more than 70% in a single day.
- Nvidia showcased a new chip, bringing excitement to the technology sector.
- Political developments in India and South Africa are affecting the global landscape.
CNBC Daily Open helps investors stay updated on important information no matter where they are. If you like what you see, you can subscribe. Here's what you need to know today: The Dow Jones Industrial Average fell over 100 points due to weak manufacturing data, raising concerns about the U.S. economy's strength. Nvidia's stock rose nearly 5% after introducing new artificial intelligence chips. Gill, known as "DeepF-----Value" on Reddit and "Roaring Kitty" on YouTube, shared a screenshot of his portfolio showing a jump in value from $115.7 million to $140 million. Moderna and Merck reported positive results for their experimental vaccine in treating deadly skin cancer patients alongside Keytruda therapy. Microsoft gained almost 5% after announcing plans for a new AI chip, signaling competition against rivals. The weight-loss market is expected to reach $100 billion by the end of the decade, leading to a significant increase in Structure Therapeutics' shares. Concerns about the economy's strength impacted the Dow. A smaller group of the alliance, including Saudi Arabia and Russia, will extend voluntary cuts of 1.7 million barrels per day. The Dow rose by 2.3%, the S&P by 4.8%, and the Nasdaq by 6.8% for the month. Trump owns about 65% of a company valued at $5.7 billion. Moderna's new product is the first mRNA vaccine approved for a disease other than Covid-19, providing a new revenue stream amid declining demand for its COVID vaccine. The upcoming 2024 election may lead to increased market volatility. Trump's legal issues won't hinder his potential presidential run. This report is from CNBC Daily Open, an international markets newsletter.