CNBC Business News Update - Market Close: Stocks End Week Higher, Apple Has Best Week In 5 Years, Trade Desk Stock Tanks

Episode Date: August 8, 2025

From Wall Street to Main Street, the latest on the markets and what it means for your money. Updated regularly on weekdays, featuring CNBC expert analysis and sound from top business newsmakers. Anchored by CNBC's Jill Schneider.

I'm Jill Schneider, CNBC. Stocks rose Friday ending the week with solid gains. The Dow jumped 207 points, adding one and a third percent for the week. The S&P 500 gained 49 points, adding nearly 2.5% for the week. And the NASDAQ hit a new intraday high, jumping 207 points, ending the week nearly 4% higher. Apple jumped 13% for the week, its biggest weekly gain in more than five years. After announcing plans to spend about $600 billion over four years in the U.S. Shares of Trade Desk plunged 38 percent, their worst day on record, despite beating on the top and bottom lines.

The CEO warned on the earnings call that some of the world's largest brands are facing pressure from tariffs and inflation. CNBC's Julia Borson is following the stock's ride. Analyst pointing to two main issues, the impact of tariffs on the macro environment, as well as growing pressure from competition, and Amazon in particular. Trade desk CEO Jeff Green saying the big companies trade desks work with are disproportionately impacted by tariffs. Quote, some of the world's largest brands are absolutely facing pressure and some amount of uncertainty. Some have to respond more than others to tariffs. Many are managing inflation worries, the related pricing that comes with that.

Consumers are racing to buy electric vehicles before a fast approaching deadline to claim tax credits worth up to $7,500. dollars, that according to auto analysts. Legislation championed by Republicans on Capitol Hill and signed by President Trump in July eliminates the tax breaks available for new, used, and leased EVs after September 30th. The Biden-era inflation reduction act had originally offered the tax breaks to consumers through 2032. Consumers purchased just over 130,000 new EVs in July, the second highest monthly sales tally on record. Paramount and Skydance have officially completed their merger with David Ellison taking over as the company's chairman and CEO. Ellison spoke with CNBC about his plans for the company and the importance of AI.

Everything we do, obviously, of Paramount, is really about empowering artists to tell great stories. And I think artificial intelligence is a remarkable tool to be able to do that. And you're right, it absolutely will impact every aspect of basically our business. It's going to impact our platforms. Sweet Green tanked 23 percent after the salad chain's second quarter results on the top and bottom lines missed analyst expectations. Sweet Green also slashed its full year revenue guidance. President Trump is warning U.S. courts against blocking his tariff policy, saying such a move could cause a severe economic downturn. A federal appeals court is hearing arguments

on how to handle his tariff policy. Jill Schneider, CNBC. Introducing CNBC Plus, the new streaming platform from the number one source in business news. Watch live or on demand. Access any market, any time. Anywhere. Start streaming. Go to cnbc.com slash plus now.