CNBC Daily Open: Boeing's 'moment of reckoning'

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

Megacap high
The S&P 500 closed at a record high, led by megacap technology stocks Microsoft and Apple. The Nasdaq Composite jumped nearly 1%, continuing an upward trend of seven weeks of gains in the past eight for both the S&P 500 and Nasdaq. The Dow Jones Industrial Average also broke a four-day losing streak. Meanwhile, the yield on the 10-year Treasury rose after Minneapolis Federal Reserve President Neel Kashkari suggested the central bank might delay rate cuts until December. U.S. oil prices also increased, rising almost 3% to surpass $80 a barrel due to expectations of higher demand during the summer.

Immigrants, jobs and inflation
Immigration has helped the U.S. job market sustain a strong run in recent months without reigniting inflation, economists and analysts say. As CNBC's Rebecca Picciotto writes, the U.S. economy added a whopping 272,000 jobs in May, but the consumer price index was unchanged. This dynamic — a hot job market and cooling inflation — is in part the result of increased inflows of immigrants. Recent spikes in immigration at the southern border and elsewhere in the U.S. have helped keep the labor pool full even as job gains kept apace.

No game plan
Shares of GameStop dropped as much as 17% after the company's shareholder meeting concluded without a detailed strategy to revive the video game retailer. CEO Ryan Cohen reiterated plans to cut costs and boost profits, hinting at further store closures. The return of Keith Gill, also known as Roaring Kitty, fueled a frenzy in