UK Prime Minister Rishi Sunak has conceded defeat following historic election results. Deutsche Bank's Maximilian Uleer explains. Plus, the monthly jobs report is expected to show a slowdown in hiring during May. CookNSolo Restaurants' Michael Solomonov and Steven Cook describe what their business is seeing. And, Amazon turns 30 today after passing $2 trillion in market cap last week. Arete Research's Rocco Strauss discusses.

The S&P 500 is above 5,500 for the first time ever, but one economist says the index can hit 7,000 by next year. Capital Economics' Neil Shearing lays out his thesis. Plus, the start of summer driving season, paired with Hurricane Beryl, could have a big impact on oil prices. CIBC Private Wealth's Rebecca Babin explains. And, it could be a record year for 4th of July travel, with the TSA projecting more than 32 million people will fly during the holiday. Morgan Stanley's Stephen Grambling discusses.

Tesla is expected to report a 6% decline in Q2 deliveries as competition in China heats up. Roth MKM's Craig Irwin and Stifel's Stephen Gengaro debate the outlook for the stock. Plus, Europe is increasingly looking to take on mega-cap tech. Big Technology's Alex Kantrowitz explains. And, investors are wondering whether the strong first half of the year will carry over to the second half. Piper Sandler's Craig Johnson and Evans May Wealth's Elizabeth Evans weigh in.