CNBC Business News Update - Market Close: Stocks Higher, Record Highs for S&P 500 Index And Nasdaq, Winning First Half Of 2025 In The Books 6/30/25

Episode Date: June 30, 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 Jessica Ettinger.

I'm Jessica Edinger CNBC. Wall Street opens Tuesday morning for the first day of July trading, the first day of the third quarter, and we're starting the second half of the year. Stocks closing out the final day of June with a win. The Dow up 275 points, more than a half percent. Goldman Sachs leading it higher, up two and a half percent. The S&P 500 index closing at a record high it was up 31 points a half percent. The NASDAQ also closing at a record on Monday up 96 points a half percent. Nvidia shares ticking into the green at the close. Companies who shares hit fresh all-time highs on Monday include Facebook parent Metta, Booking.com parent

booking holdings, Royal Caribbean Cruises, Capital One, Goldman Sachs, JP Morgan, CrowdStrike, Oracle, Robinhood and Netflix. A winning first half of the year for the markets. The Dow up 3% so far year to date. The S&P 500 index and the NASDAQ each up 5% year to date. Now we start July here which is seasonally still very good. And in particular, the last decade, every July has been positive. Seasonality is influenced by the trend of the market.

And the second half of the year tends to be strong when you enter it in an uptrend. So that's the setup here. I'm not saying we can't have a consolidation or a pause sometime August, September. That would not be unusual. Strategist market strategist Chris Verone on CNBC. And here's another outlook from CNBC's Frank Holland and JP Morgan's Joyce Chang. You have slower growth coming and we think higher inflation,

but there's been very steady retail demand and buybacks. So the technicals could still squeeze this higher, but we're on a stagflationary tilt here. So I would just be careful on calling for a much higher market here. You know, I had to just check. Do you see the market pulling back quite significantly on the back half of the year? I think you will get the slowdown. Now, we've had a lot of front loading, a U.S. import surge, but we're still looking at an effective tariff rate that's 14%. That's a $400 billion tax. More Americans are having trouble making their mortgage payments.

In May, a significant jump in the early stage category of mortgage delinquencies. That's your 30 to 59 days past due. And this according to a new report from Vantage Score, an early indication of financial stress among borrowers. What's more concerning is that these delinquencies were led by borrowers in the near prime, prime and super prime segments that is the least risky borrowers with the highest credit scores. CNBC's Diana Olek. Gas prices dropped four cents a gallon in the past week but they are still higher than they were a month ago. AAA says the national average for a gallon of regular is now $3.18. The WNBA has announced expansion teams. Here are CNBC's Kelly Evans and

Alex Sherman. The three new cities are Detroit, Cleveland and Philadelphia. This is actually a return for Detroit and Cleveland. They did have WNBA teams that lost them and now they're coming back brand new team for Philadelphia and the ownership groups are all existing NBA franchises. I was going to say even those towns, I mean those are strong NBA cities. They are very strong basketball cities. New minimum wages taking effect Tuesday in Alaska, which hits $13 an hour. California with a new minimum up to $24 an hour for healthcare workers. Oregon's minimum wage goes to $15.05 an hour. In Florida, the minimum wage goes up Tuesday to $14 an hour.

Tipped employees go up to a little less than $11 an hour. On Tuesday's watch list, earnings are coming from Constellation Brands. We get new data on jobs with the Joltz Report. Tuesday is Canada Day, a holiday for our neighbors to the north. Jessica Edinger, CNBC. CNBC is the network for ambitious people.