CNBC Daily Open: U.S. economy sparks optimism
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 .
Markets tumble
Wall Street closed lower Monday as investors awaited inflation data due later this week. The Dow Jones Industrial Average fell around 62 points, or 0.16%. The S&P 500 and Nasdaq Composite dropped 0.38% and 0.13%, respectively. But bitcoin resumed its rally to rise past $54,000 after a week of tepid trading.
Zoom surges
Zoom shares spiked after the video-chat platform provider's quarterly revenue and profit topped estimates. Revenue rose more than 2.5% from $1.12 billion a year earlier. Growth would have been faster in the fiscal fourth quarter if not for a sales reorganization, the company said.
Dimon AI's 'big optimist'
JPMorgan CEO Jamie Dimon said he doesn't think AI is just a passing fad. "When we had the internet bubble the first time around … that was hype. This [AI] is not hype. It's real," Dimon told CNBC, calling himself a "big optimist" on the emerging technology.
U.S. to be a chips hub
U.S. Secretary of Commerce Gina Raimondo said the U.S. is set to become a major hub of state-of-the-art semiconductor chips before 2030 to compete on the global market. She added the country is on track to produce roughly 20% of the world's leading-edge logic chips by the end of the decade.
[PRO] Hotter than Nvidia
There's an even "hotter" artificial intelligence stock than Nvidia. That's Super Micro Computer, a Nasdaq-listed company which makes AI systems and graphics processing unit servers, highlighted Louis Navellier, chairman and founder of Navellier & Associates.
Forecasters are getting