economy
CNBC Daily Open: An A-grade showing for Alphabet on its Dow debut
Politics also are on the radar as the Supreme Court handed President Donald Trump a split scorecard on executive power.
TL;DR
- Alphabet replaced Verizon in the Dow Jones Industrial Average, contributing to the index crossing the 52,000 mark.
- Past Dow additions like Nvidia, Salesforce, and Apple have seen declines in stock value within 60 days of joining the index.
- The Supreme Court ruled President Trump cannot fire Federal Reserve Governor Lisa Cook but affirmed his power to fire FTC Commissioner Rebecca Slaughter.
- Talks aimed at ending the conflict between the U.S. and Iran remain in a start-stop pattern after a weekend exchange of strikes.
- Oil prices saw little change, with strategists warning of market optimism underestimating supply challenges.
- President Trump purchased between $1 million and $5 million in Axon stock before ICE sought a $220 million contract for Tasers.
- The White House stated Trump's assets are in a trust managed independently, denying conflicts of interest.