CNBC Daily Open: Nasdaq tops 17,000; Exxon faces shareholder revolt

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 .

Nasdaq hits record in muted trade
The Nasdaq Composite closed above 17,000 for the first time, driven by a surge in Nvidia shares, in an otherwise lackluster day for the market. The S&P 500 edged up 0.02%. The Dow Jones Industrial Average fell more than 200 points after Minneapolis Federal Reserve President Neel Kashkari said he would prefer to see "many more months" of data indicating easing inflation before considering rate cuts. The yield on the 10-year Treasury note rose following a $70 billion Treasury Department auction of 5-year notes that met with weak demand. Oil prices increased 3% ahead of an OPEC+ meeting scheduled for Sunday. 

American Airlines slashes outlook
Shares of American Airlines slid more than 8% in extended trading after the company slashed its second-quarter sales outlook. The airline also said its chief commercial officer, Vasu Raja, would be leaving the company next month. Raja had been on leave recently, and a spokeswoman for the carrier said last week that he was not leaving. That changed after internal discussions in the past few days, according to a person familiar with the matter. 

T-Mobile to buy most of U.S. Cellular
T-Mobile will acquire most of U.S. Cellular, including the wireless operator's stores, some of its spectrum assets and its customers, for $4.4 billion. T-Mobile plans to use U.S. Cellular's wireless spectrum to improve coverage in rural areas. The deal includes cash and up to $2 billion in debt. U.S. Cellular's shares popped more than 12% and T-Mobile