The Pre-Market Rundown: June 3, 2024
Wall Street is set to open higher on this first trading day of June. The market posting strong gains in May led by an almost 7% rise for the NASDAQ. Shares of GameStop are surging in pre market trading. Reports of a post on Reddit this weekend from stock influencer Keith Gill AKA Roaring Kitty, appears to show he has made a more than $100 million bet on the gaming retailer. He posted a screenshot showing what may be his stock holdings, which includes 5 million shares of GameStop. Samsung is winning the market for foldable phones, but the company share has dropped from more than 80% just two years ago to about 50% now. And that's a Samsung is now facing increasing competition from Motorola, several Chinese phone makers and other brands. And that's according to data from research firm Trend Force. Foldable phones only make up less than 2% of the global smartphone market. And jack-in-the-box wants to make it a fast food summer. The chain launching a $4.00 value menu today with an assortment of munchies that will cost less than that. And it's the latest fast food retailer to announce a cheap meal deal. Weeks after, McDonald's and Burger King said they'll be coming out with a $5 menu set to hit locations later this month. Jack in the Boxes menu is a permanent addition, and you can get snack size favorites including tiny tacos, curly fries and chicken sandwiches. For CNBC business news, I'm Sylvana Hanaum.