CNBC Business News Update - Market Close: Stocks Lower, Major Indexes Notch Losing Week, Nvidia Hits Fresh Record High, Investors Rattled By Trump's Canadian Tariff Threat 7/11/25

Episode Date: July 11, 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 down day for stocks investors rattled by President Trump's tariff threats aimed at Canada and Brazil. The Dow down 279.5%. Nike shares let it lower down 2.5%. The S&P 500 index down 20. The NASDAQ fell 45. All three major indexes had a losing week. Nvidia shares were up another half percent Friday and companies who shares hit fresh all time highs Friday include Nvidia and coach parent tapestry trans dime and GE. Vernova earnings season begins next week. The big banks start to report their quarterly results on Tuesday. Yes, we have earnings coming up this week.

The bar has really been lowered quite a bit. I don't think there's necessarily a reason to feel as if there's going to be lots new to worry about in the earnings reports. CNBC's Mike Santoli, shares of Kraft Heinz popped on a new Wall Street Journal report saying the company may be getting ready to break itself up. Bitcoin flew to new highs on Friday, topping $118,000. Platinum hit its highest since the summer of 2014. Investors though scratching their heads on new tariffs threatened on Canadian goods. 35% on imports from Canada, which by the way, the second largest US trading partner and the largest buyer of American goods last year. Now, an administration official did tell me that the exemptions currently in place for USMCA compliant goods likely will remain as will the lower 10 percent tariff for energy

imports that would soften this a little bit, but still a significant escalation from the 25 percent level where it is now. I was told that decision is not final CNBC's Megan Casella. Meantime, the president's newly threatened higher tariffs on goods coming in from Brazil could mean a higher price for you for your cup of Joe. The U. S. Gets most of its coffee from Brazil. Brazil is risen in importance as a coffee export to the United States. It's the largest in coffee shops are going to really find other ways and look for other markets to really help import from.

But because Brazil is such a large piece of this, it's gonna be hard to really circumvent the issue in its entirety if it were to be fully implemented. TD Cowan's Andrew Charles on CNBC. Amazon's Prime Day sale, along with rival sales at Walmart, Target, Best Buy, and others spurred a lot of back to school shopping. Parents being budget conscious though with fancier brand backpacks, for example, sales at Walmart, Target, Best Buy and others spurred a lot of back to school shopping.

Parents being budget conscious though with fancier brand backpacks for example and other items possibly losing out according to this year's Deloitte survey. Tariffs are playing a hand in the details this year according to Deloitte. Just over half of all the parents say they are concerned about higher prices this year for back to school items which is impacting how they will shop. So what will they do? Well, seven in 10 parents say that they are willing to wait longer for delivery

if it saves them on shipping costs. And three quarters say they'll pick a different brand altogether if their preferred brand is too expensive. That's much higher than answered that last year. Overall, spending is expected to skew towards down on brands and retail spreading out purchases o Courtney Reagan new in the

Superman and on the coming mentioned earning season b beige book on current US e Major League Baseball has the home run derby Monday night and the all-star game Tuesday night. Jessica Eddinger, CNBC.