CNBC Business News Update - Market Close: Stocks Higher, Trump Accounts For Newborns, Muted Apple Developer Conference 6/9/25

Episode Date: June 9, 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 after a mixed day for stocks. The Dow just couldn't stay in the green. It was down one point at the close, led lower by shares of travelers. The insurance company down more than 2% the S and P 500 index was up five points. The NASDAQ 61 points, and video shares were up about a half percent on Monday. Companies whose shares have hit fresh all-time highs today include Olive Garden, Parent Darden Restaurants, Royal Caribbean Cruise Line, and Johnson Controls. U.S.-China trade talks have started in London. They're expected to continue all week. Wharton professor Jeremy Siegel tells CNBC stocks are following tariffs. The talks need to go well. If tariff percentages go up because President Trump wants to retaliate or exert pressure, the market could go down.

The market can live with 10 base and 30 China. Now, I know the aluminum and steel have 50. But I think the market can definitely live with those. And if it doesn't get worse, I think there's no reason we can't push to new highs. If it gets higher and ramps up there, then the ceiling is on. The baby bond idea is back. The Trump administration naming these Trump accounts. It would give every child born in America a thousand dollars invested in the stock market that he or she couldn't sell until they turned 18. CNBC's Brian Sullivan with the downside. The naysayers have already started to come out of the woodwork. Number one, rich people, why should they get it? They're already rich. Number two,

just going to enrich Wall Streeters because someone's got to manage the money. And number three, what about my kids? They were born last year, now they're not going to get it. Apple's Worldwide Developers Conference is on. The company announced a chat GPT enhanced image playground app and a few other things, but overall investors aren't so impressed. The vibe was quite muted. Usually you hear a lot more cheers and didn't get a lot of that this time. I think there are some cheers for the karaoke app, I guess. But when it comes to artificial intelligence and when it comes to the AI stuff, they did mention

Siri at the very top and how they missed on that and how they need a little bit more time to get that going. That's the one everyone's waiting for. If you're hoping for some surprise AI announcement, you did not get that. And now we just kind of spin it forward and wait till September for the new iPhones. Maybe they can show us something cool and innovative there on the hardware side that will get people excited. But right now you're not seeing a ton of excitement of this CNBC's Steve Kovach. Home prices fell in May in Florida and Texas, but they went up overall in the U.S. Not by much though, only by 2% year over year on average. That is the slowest growth in over a decade, actually since 2012. The number of active

listings for sale in May was up over 31% compared to a year ago and mortgage rates have been hovering in this narrow range between 6.8 and around 7 percent really since early April. Of course all real estate is local. 14 of the 100 largest metropolitan markets reported annual declines. The majority are concentrated in Florida and Texas. By state home prices have now gone negative compared to last year in Florida, Texas, Hawaii and the District of Columbia. CNBC's Diana Olich. On Tuesday's watch list, we get earnings from J.M. Smucker, Dave and Busters, and GameStop.

We find out how small business owners are feeling about the economy with the National Federation of Independent Business Survey. McDonald's adds Hershey's S'mores McFlurries. Two menus. Jessica Edinger C my show and you learn how