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CNBC Daily Open: Elon Musk orders himself to return to the office. Investors like that

May 28, 2025 - cnbc.com
U.S. President Donald Trump and Tesla CEO Elon Musk were seen together in Washington, D.C., as Musk announced a renewed focus on his companies, leading to a nearly 7% rise in Tesla shares. This shift away from politics, coupled with positive trade developments, boosted U.S. stocks, with the S&P 500, Dow Jones, and Nasdaq all experiencing significant gains. Meanwhile, Nvidia faces challenges due to new U.S. export restrictions to China, potentially impacting its earnings.

In other news, Japan's rising bond yields could lead to capital shifts affecting global markets, while U.S. consumer confidence surged in May, driven by trade optimism. Despite recent stock gains, JPMorgan predicts the S&P 500 may remain rangebound. Additionally, AI startup Whale, led by Jerry Ye, continues to thrive despite U.S.-China tensions, focusing on AI tools for retailers.

Key takeaways:

  • U.S. stocks surged with the S&P 500, Dow Jones, and Nasdaq Composite all experiencing significant gains, snapping a four-day losing streak.
  • Tesla shares rose nearly 7% after Elon Musk announced he would focus more on work, moving away from political involvement.
  • Nvidia faces challenges with new U.S. export restrictions to China, potentially impacting its earnings report.
  • Japanese bond yields are rising, which could lead to capital flight back to Japan and affect global markets.
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