CNBC Daily Open: Dow drops on weak manufacturing data, GameStop soars

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 .

Weak data dents Dow
The Dow Jones Industrial Average dropped more than 100 points after weak manufacturing data raised concerns about the strength of the U.S. economy. However, the S&P 500 edged higher by 0.11%, while the Nasdaq Composite gained 0.56%. Nvidia jumped almost 5% after introducing new artificial intelligence chips. The yield on the 10-year Treasury fell on weaker-than-expected ISM manufacturing data, which came in at 48.7 in May. A reading below 50 is indicative of a contraction. Oil prices fell more than 3% as OPEC+ plans to phase out voluntary production cuts. 

GameStop can't stop
Shares of GameStop closed 21% higher after jumping more than 70%, as meme stock leader Keith Gill appeared to hold on to a massive position in the video game retailer. The Wall Street Journal reported that E-Trade was considering banning Gill from its platform over concerns of potential market manipulation. Gill, who goes by "DeepF-----Value" on Reddit and "Roaring Kitty" on YouTube and X, posted a screenshot of his portfolio on Monday, showing the value of his common stock alone jumped to $140 million from $115.7 million as of Friday's close. The post could not be independently verified by CNBC. 

Skin cancer vaccine
Moderna and Merck reported that their experimental vaccine, administered to patients with the deadliest form of skin cancer in conjunction with the therapy Keytruda, demonstrated improved survival rates and durable efficacy. Nearly 75% of patients who received the combination were alive and