CNBC Daily Open: 'Roaring Kitty' gets chewed up

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 .

AI momentum
Wall Street kicked off the second half of the year with modest gains, propelled by continued strength in megacap stocks. The Dow Jones Industrial Average edged up 0.13, while the S&P 500 gained 0.23%. The tech-heavy Nasdaq Composite advanced 0.8%, led by Microsoft's 2.19% rise and Nvidia's 0.6% gain. Meanwhile, the yield on the 10-year Treasury rose ahead of key labor market data this week. U.S. oil prices climbed 2.3% ahead of the Fourth of July holiday.

Streaming deal?
Paramount Global is exploring merging its Paramount+ streaming service with another existing platform, according to people familiar with the matter. The company is in discussions with several media and tech firms, including Warner Bros. Discovery. A merger could help the combined entity better compete with Netflix and Disney's streaming platforms. The move signals a new wave of consolidation in the streaming industry as companies seek stronger footing in the highly competitive market.

Chewy stake
Keith Gill, known as "Roaring Kitty," has taken a 6.6% stake in Chewy, purchasing over 9 million shares valued at over $245 million, according to a Securities and Exchange Commission filing. Gill, a prominent meme stock trader, is now the third-largest shareholder of the pet food e-commerce company. Chewy's stock surged over 9% on Monday but reversed course to close 6.6% lower, with Wall Street analysts warning that volatility was not good for the pet retailer. 

Boeing, Spirit up 
Shares of Boeing and Spirit AeroSystems rose