French left-wing coalition thwarts far-right advance in parliamentary run-off vote

In today's CNBC Daily Open report, various key market updates were highlighted. The yield on the 10-year Treasury remained stable, while U.S. oil prices dipped due to Tropical Storm Beryl. Corning's stock saw a significant surge after raising its second-quarter forecast, and Germany's Federal Criminal Police Office still holds a substantial amount of bitcoins despite recent sales. Additionally, activist investor Elliott Management threatened a proxy fight with Southwest Airlines, and Goldman Sachs trader Scott Rubner warned of a potential market correction. Boeing made headlines by agreeing to plead guilty to a criminal fraud charge related to the 737 Max crashes. The S&P 500 achieved its 34th record close of the year, with the Nasdaq Composite also setting session highs and closing at record levels. Nvidia's stock soared due to the AI boom, while Tesla recovered its losses for the year. Analysts like Kolanovic and Calvasina expressed cautious optimism about market trends, with predictions and assessments reflecting a mix of confidence and wariness. In international news, France's left-wing New Popular Front coalition successfully blocked a far-right advance in the parliamentary run-off vote, though falling short of an absolute majority. The S&P 500 and Nasdaq's year-to-date gains were notable, but concerns over profit-taking and valuations led to a pullback and a rare downgrade from a Wall Street analyst. The possibility of a hung parliament in Europe's third-largest economy was also highlighted, indicating potential political uncertainties ahead. Overall, the market landscape remains dynamic and influenced by various factors, from corporate developments to geopolitical events. Investors are closely monitoring these trends, with a mix of optimism and caution prevailing in the current financial climate.