CNBC Daily Open: The economy and inflation might stay strong

Dow breaks 43,000 level 
On Monday, the S&P 500 precocious 0.77% and the Dow Jones Industrial Average climbed 0.47%. Both indexes closed astatine caller highs, with the Dow closing supra 43,000 for the archetypal time. The Nasdaq Composite roseate 0.87%. Asia-Pacific stocks were mostly higher Tuesday. Japan's Nikkei 225 accrued astir 1%, and deed its highest intraday level successful 3 months earlier successful the day.

Nvidia's numbers aren't a hallucination 
Nvidia shares roseate 2.4% to adjacent astatine $138.07, a caller grounds for the stock. The artificial quality chipmaker's erstwhile precocious was $135.58, which it deed connected June 18. Buoyed by Nvidia's rally, Asian spot stocks roseate Tuesday. Shares of SK Hynix, Taiwan Semiconductor Manufacturing Company and Foxconn each accrued astatine slightest 2%.

Tread with caution 
The U.S. Federal Reserve mightiness slow down its gait and the size of involvement complaint cuts astatine its upcoming meetings, suggested Fed Governor Christopher Waller connected Monday. Data connected employment, ostentation and economical maturation person signaled that the "economy whitethorn not beryllium slowing arsenic overmuch arsenic desired," Waller said. 

Fasten your seatbelts 
The strike by Boeing workers is present successful its 2nd month. It has already outgo Boeing much than $1 billion, according to estimations by S&P Global, and negotiations are inactive astatine an impasse. On Friday afternoon, CEO Kelly Ortberg announced Boeing volition chopped 17,000 jobs, and volition not present its wide-body 777X level until 2026 — six years down schedule. 

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Unlike the beleaguered Boeing, which is struggling to get manufacturing of its 777X plane disconnected the ground, the U.S. system looks similar it mightiness cruise the skies for longer than expected.  

After the beardown slate of information connected employment, income growth and inflation, there's chatter that the U.S. economy, thought to beryllium connected way for a brushed landing, mightiness not onshore astatine all.  

A brushed landing is the script successful which ostentation drops to the Fed's 2% people portion economical maturation and employment stay healthy. A "no landing," connected the different hand, is erstwhile the system continues expanding arsenic ostentation remains high. 

Referring to revisions to second-quarter gross home income and savings rate, Fed Governor Waller remarked, "These revisions suggest that the system is overmuch stronger than antecedently thought, with small denotation of a large slowdown successful economical activity," 

Echoing that sentiment, Deutsche Bank macro strategist Henry Allen thinks ostentation risks are inactive precocious due to the fact that of expanding commodity prices, increasing wealth proviso and looser-than-expected monetary argumentation from large cardinal banks, among different reasons. 

After the user terms scale report, markets volition beryllium monitoring the U.S. retail income report, retired Thursday, for immoderate signs that the system and ostentation are inactive hot. 

"The 'no landing' communicative could proceed to fortify if we get blowout retail income this week," Ohsung Kwon, an equity and quant strategist astatine Bank of America Securities, wrote successful a Monday note.  

But adjacent if the level continues successful cruise control, don't panic.  

"Whatever happens successful the adjacent term, my baseline inactive calls for reducing the argumentation complaint gradually implicit the adjacent year," Waller said. 

And BofA thinks the "no landing" script is really "bullish for stocks, successful our view, arsenic agelong arsenic ostentation doesn't flare up," according to Kwon. 

For now, investors tin strap successful and bask the ride. Better to beryllium miles supra the crushed for longer, than stuck hapless successful a stuffy cabin, incapable to instrumentality off. 

– CNBC's Jeff Cox, Sarah Min, Lisa Kailai Han and Yun Li contributed to this story.