CNBC Business News Update - Market Close: Stocks Higher, S&P 500 Index and Nasdaq Close At Fresh Records, New Higher Brazil Tariffs Could Mean Higher Beef And Coffee Prices 7/10/25

Episode Date: July 10, 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 Evinger, CNBC. Wall Street opens Friday morning after a winning day for stocks and a record high for the S&P 500 index and the NASDAQ. Investors brushing off new tariff fears. The Dow up 192 points, four-tenths of a percent, led higher by shares of American Express. The S&P 500 index up 17 points. The NASDAQ up 19 points. NVIDIA shares. They did hit a record high on Thursday along with Hilton, Royal Caribbean Cruises, Ralph Lauren, BlackRock and Texas Instruments. Bitcoin with a fresh record high at more than $113,000.

President Trump threatening new higher tariffs on products coming in from Brazil, brace for even higher prices for burgers, steaks, and coffee. Let's start with beef. Futures hit a record high Thursday. This tariff is significant given that Brazil is one of the US's largest beef suppliers and was already facing a 26.4% tariff. In April, Brazil overtook Australia as the single largest supplier to the U.S. Alton Calo, chief economist at Steiner Consulting, told me that Brazil is about 5.4% of U.S. supply, with the majority of what's coming in known as grinding beef used for things like hamburgers,

at fast food restaurants, or pre-made meals. Now this could exacerbate already high prices with beef outpacing overall inflation. That's CNBC's Pippa Stevens. Here's a look at whether you might pay more, especially at Big Chains, for coffee with CNBC's Kate Rogers. Brazil is a key import partner for U.S. coffee retailers, accounting for about 22 percent of U.S. coffee imports last year. Now, the two names that have exposure here, Starbucks and Dutch Bros, which sourced 22

percent and 56 percent of their beans from Brazil. Coffee is very discretionary. You know coffee is an easy thing to cut out of your ritual and make at home. Delta Airlines shares up about 12% on better than expected quarterly results at a brighter full year forecast for the airline. Delta's CEO told CNBC that in mid-August the company will adjust capacity as it adjusts to demand as Americans are watching their budgets and pulling back on some of those plane tickets. You have the impact that we've seen from the tariff battles and all the global trade wars

that are being waged. There's been a big pullback over the start of the year. Main cabin is down 5%. Main cabin is down 5% and that's where you have your most price sensitive customers. Remember we got hit with this in the early part of the year we weren't really in position to address it given that we had our peak booking and our peak summer season coming up but what you'll see post mid-August is you'll see industry capacity particularly in the main cabin domestically coming down significantly. Delta CEO Ed Bastion on CNBC with CNBC's Phil LeBeau. Kellogg shares spiked about 30% Thursday on news Italian candy and snack maker Ferrero will buy the cereal giant for about $3 billion.

As Americans struggle with their budget, McDonald's has added snack wraps back to menus nationwide for the first time in 11 years, a more value play. On Friday's watch list, it's 7-Eleven Day, free Slurpees at 7-Eleven. On July 11th, new in theaters Warner Brothers Superman. Jessica Edinger CNBC. President's latest uh I swear he's watching. Squawk Box 6 a.m. Eastern and streaming on CNBC Plus.