CNBC Business News Update - Market Close: Stocks Finish Higher, Apple Leads Dow, Trump Adds To India Tariffs

Episode Date: August 6, 2025

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, CNDC. Stocks finished the day with gains. The Dow added 81 points. The S&P 500 rose 45. The NASDAQ climbed 252 points, about a percent and a quarter. Both the S&P 500 and the NASDAQ are on pace for their biggest weekly gains since the end of June. Apple was the biggest star in the Dow today as it announces another $100 billion in investment in U.S. manufacturing facilities. stocks have been choppy lately suggesting to some that a pullback might be coming.

Chief market technician at BTIG, Jonathan Krinsky, agrees. If you think about the structure of the market this year, the S&P peaked in February around 6,100 before the plunge into April. We broke through 6,100, and typically when you break through resistance, you do get a checkback to kind of retest that support. And so we do think that's coming, you know, into this August-September period. Again, that would only be a 5% pullback from highs. not too substantial, but yeah, we think he'll get an opportunity to buy around 6,100.

Amgen was the biggest percentage loser for the Dow. The drugmaker beat street forecasts in its latest earnings report, but also lowered its full-year earnings outlook. The White House announced today it's imposing an additional 25% tariff on India for a total of 50%. In an executive order, the president said India has been importing Russian oil. The new tariffs are set to go in effect in three weeks. The new rate now among the highest levels on any of the U.S. trading partners. Jill Schneider, CNBC. You come to my show and you learn how to do stops. Mad Money, weeknight six Eastern, CNBC.