CNBC Business News Update - Market Close: Stocks Lower, Oil Spikes On Middle East Unrest, US-China Trade Framework Done 6/11/25

Episode Date: June 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. In the red today, stocks have been higher but turned around on some mixed messages about the U.S.-China trade deal and reports of Middle East tensions as oil spiked. The Dow ended the day down a point, really flat, led lower by shares of Amazon, which were down 2 percent%. The S&P 500 index down 16 points, the NASDAQ down 99 points a half percent. Nvidia shares were down three quarters of 1% on Wednesday. Companies who shares hit fresh all time highs include MasterCard and Visa, Microsoft, IBM and Palantir.

Gold, silver and copper are at multi-year highs. President Trump posted a trade deal with China is done, but it's really being called by many a framework. Well, I'm glad you called it a framework because it's not really a trade deal. It just lifts what were going to be some restrictions on China's export of rare minerals as well as magnets. And that would have been pretty devastating. So they agreed to continue those shipments. And I guess on the other side of this was the allowance by the Trump administration for Chinese students to join our colleges and universities. So I wouldn't call this the kind of trade deal in terms of being a de-escalation from

a tariff perspective. The tariffs that the United States has put on goods coming from China back here to the U.S., that hasn't changed. That's still running at an average effective rate of 55%. Charles Schwab's Lizanne Saunders on CNBC. Commerce Secretary Howard Lutnick gave his take on CNBC with Carl Quintanilla. How about China? You buy more of our agriculture, you buy more of our equipment. And I think they've agreed to that.

We're going to go through that over the next couple of months. I felt really good leaving last night. Well, Mr. Secretary, it's potentially very good for the markets if they can be convinced that these numbers, these tariff levels are not going to change from here. Can we say that? You can definitely say that. Consumer prices rose less than expected in May in the latest CPI report, Consumer Price Index,

tame inflation as President Donald Trump's tariffs have yet to show a significant impact. The Consumer Price Index ticked up a tenth of a percent last month, putting the annual inflation rate at 2.4%. On the headline number, expected up 2 tens comes in on the light side up one tenth of a percent. But as the year over year numbers do tell us, we're still a little bit on the high side. That's CNBC's Rick Santelli.

Here's CNBC's Mike Santoli. There's no way to look at these numbers and say they're not welcome news. I mean, a downside d core core goods is where for potentially tariff ef getting that in the CPI r ticked higher, but many s New vehicles fell, used v apparel, which is a big i

0.4% owners equivalent re unit up 0.4 percent. Owners equivalent rent, that's the housing unit, up 0.3, that's pretty good. Motor vehicle insurance up 0.7, airlines down interestingly enough. And the most important product of all of course, eggs down 2.7 percent. And CNBC senior economics reporter Steve Leesman adds this. I expect tariff prices to come. You cannot collect year to date. $70 billion in tariff revenue and not have prices go up.

That is going to happen. On Thursday's watch list, we get earnings from Adobe. We get the latest on inflation at the wholesale level. We find out how many people applied for unemployment benefits last week, and US Open Golf begins in Oakmont, Pennsylvania.

Jessica Ettinger, CNBC. You come to my show and you learn how to do stocks. Mad Money, weeknight, 6 Eastern, CNBC.