‘Roaring Kitty’ gets chewed up, Nasdaq hits record

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 record
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 closed at a record high, 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 the volatility was not good for the pet retailer.

Boeing, Spirit up 
Shares of Boeing and Spirit AeroSystems rose 2.58% and 3.35% respectively after Boeing agreed to buy back fuselage maker Spirit in a $4.7 billion all-stock deal. The deal gives Boeing more control over production as it faces regulatory scrutiny over safety concerns. Separately, Airbus will acquire Spirit’s manufacturing facilities dedicated to Airbus planes for $1. Spirit will pay $559 million in compensation to Airbus. The plants in Belfast, Wichita and North Carolina, produce wings, fuselage and other components for the A220 and A350. Airbus shares rose 2.6% in Paris.

Japan stocks rise, yen weakens
Markets in the Asia-Pacific region were mixed, with Japan’s export-heavy Nikkei 225 and the broad-based Topix rising 1.1%. The yen weakened, remaining at 38-year lows. South Korea’s Kospi dropped even as June inflation came in weaker than expected, raising the prospect of a rate cut. Australia’s S&P/ASX 200 fell 0.46% as the Reserve Bank of Australia released the minutes from its June monetary policy meeting, in which board members discussed raising…