CNBC Business News Update - Market Close: Stocks Lower, Nasdaq Hit Intraday Record High Before Pulling Back, CPI Inflation Data Coming Tuesday Morning, Trump Extends China Tariff Deadline 8/11/25

Episode Date: August 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 Eddinger, CNBC. Wall Street opens Tuesday morning after a losing day for stocks, although the NASDAQ hit a new intraday record high before it pulled back into the red. Let's start with the Dow. It was down 200 points, 4 tenths of 1% led lower by shares of Salesforce down 3%. The S&P 500 indexed down 16 points. The NASDAQ was down 64 points. and video shares fell three-tenths of 1%. Companies who shares at fresh all-time highs on Monday include electronic arts, eBay, Kroger, and BlackRock. President Trump extended the tariff pause with China for another 90 days. This is for threatened additional tariffs.

American businesses are now paying and will continue to pay a baseline at least 10% tariff on anything they bring in from China. For some products, the baseline is as high as 25%. NVIDIA and AMD, two chip makers, will pay 15% of their revenue from chip sales to China for the privilege of making those sales, getting government permits. The government will take the money, according to reports in the New York Times and the Financial Times. So the president wants a piece of it? I don't know. Why shouldn't the country get some of it? It is a new way. The Greig piece in the journal, which I thought was, you know, he's writing really interesting things. and just talking about we are moving closer to China than China moving closer to us. It's state-run capitalism.

At what point are we going to get to the point where the government is seen as a better allocator of capital than the market? That's already happening. That's what the Chips Act was. Well, the Chips Act was with carrots. These are with sticks. Right. And he's telling American business where they should invest, who they should have as a CEO,

and where to send a check for a cut of the profits. A little aggressive. CNBC's Carl Keentenia with Mad Money host, Jim Crairman. and CNBC's David Faber. The president posted that gold will not be tariffed. Clearing up some confusion that we had late in the week last week after Customs and Border Protection issued some documents that people in the markets believed indicated that gold bars would be tariffed.

Gold bars have traditionally been considered currency, not a product for export. CNBC's Aymn Javvers. Cannabis stocks had a little rally on Monday on a Wall Street Journal report that President and Trump is weighing drug reclassification, something the industry has been waiting for. Ford has an affordable electric pickup truck coming. The next electric vehicle to come out of this platform, it'll be an electric pickup truck. They are targeting a sales date of 2027. At least they're planning to launch it then.

Estimated sales price, they're shooting for it to be about $30,000. This will be down at their Louisville, Kentucky plant. They're going to be investing $2 billion to convert that plant for an EV production. CNBC's Phil LeBoe. Companies are calling workers back to the office at the highest rate in five years for at least a few days a week. It's starting to work as people are worried about losing their jobs. Nearly three quarters of the 184 companies surveyed said they have met their attendance goals, and that's up from 61 percent last year.

This according to a new report from CBRE. The share of companies enforcing attendance policies rose to 37 percent. Companies in the survey said they want employees in the office an average of 3.2 days away. week, but actual attendance is slightly below that. CNBC's Diana Oleg. On Tuesday's watch list, it's all about inflation with the CPI, the Consumer Price Index for July. That'll be out at 8.30 a.m. Eastern. Earnings are coming from Circle, Corweave, and Kava, and the Alien franchise is heading to the small screen for the first time. Alien Earth premieres on Hulu. Jessica Eddinger, CNBC.

people.