CNBC Business News Update - Market Close: Stocks Higher, S&P 500 Index & Nasdaq Close At New Record Highs, More Jobs Created In June Than Forecast, No Trading On July 4th 7/3/25

Episode Date: July 3, 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 Monday morning after a record day of Thursday trading heading into the 4th of July holiday. The S&P 500 index and the NASDAQ will each open Monday morning at fresh all-time highs. And the Dow is less than 1% away from a record high. All of this on a better than expected June jobs report. In a half day of trading on Thursday, the Dow was up 344 points, three quarters of a percent, led higher by shares of Travelers, which were up two and a half percent. The S&P 500 index was up 51 points, that was eight tenths of a percent. And the Nasdaq was up 207 points, that was a full one percent. Checking where the markets are year to date over this holiday weekend. The Dow up 5%, the S and P 500 index and the

NASDAQ are each up 6% companies on Thursday that hit fresh all time highs include American Express, Goldman Sachs, JP Morgan Chase, Royal Caribbean Cruises, Lowe's Morgan Stanley, Capital One, Wells Fargo, CrowdStrike, Oracle, and NVIDIA. July seasonality, just to keep it really simple, is so positive. I mean, when you have this strong May and June, it feels like maybe July shouldn't be that positive. But in fact, when you have a greater than 5% gain in May and June, you're leading into

July, July's even better. And so this is probably one of the strongest little two week periods for the market. And so I want to stay long, at least for right now, overweight equities. That's 314's Warren Paes on CNBC. More jobs than expected were created last month. It's the big June job, job, jobs report.

147,000 jobs definitely bit better than expected it's a pretty good number and guess what now let's look at the unemployment rate 4.1% CNBC's Rick Santelli but guess where much of the hiring was done last month I have to point out I don't even know if President Trump is going to like this report. Why 73,000 of the job gains were government CNBC senior economics reporter Steve Leaseman, the weakest private sector growth since October of 2024. What I think happened here is this anomalous hiring in the state and local government is what makes this so much higher than what the street was estimating.

Now the June report is more evidence of a low hire, low fire job market. You've got a federal hiring freeze, you've got an immigration crackdown, and you have a situation where the private sector is sitting on eggshells, walking on eggshells here, waiting for these trade deals to either happen or not. And in the meantime, you've got these tariffs which are driving up costs. So CEOs, they're not hiring, everything's on hold. But the good news is they learned their lesson in COVID. They're not doing big layoffs. And I hear of a few here and there, but in total, they're not doing layoffs because they're

hoarding their talent. They've learned that once you get rid of your talent, it's very hard to get it back. That's the Conference Board President Steve Odland on CNBC. Hollywood hoping you'll hit the theaters over the long holiday weekend. Apple's F1 won the box office last weekend. It is a summer blockbuster in the making. You also have a new one in theaters, Universal's Jurassic World Rebirth. Universal is a sister company to CNBC. Some moviegoers are waiting for Superman out next weekend. That's from Warner Brothers.

Jessica Edinger, CNBC. CNBC is the network for ambitious people.