CNBC Business News Update - Market Close: Stocks Mixed, Chip Stocks Rebounded, Apple Shares Hit Record High Before Falling After WWDC Address 6/8/26

Episode Date: June 8, 2026

CNBC Business News Update with Jessica Ettinger - market numbers and news featuring CNBC expert analysis and sound from top business names. Visit https://www.cnbc.com/ for more. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

I'm Jessica Eddinger, CNBC. Wall Street opens Tuesday morning after a mixed Monday for stocks. Markets turned positive early after Iran said it was halting strikes near Israel. Then markets turned mixed after Israel's Prime Minister Netanyahu said its war with Iran is not over. The Dow was in the red, down 80 points, led lower by shares of insurance company travelers. The S&P 500 index was in the green, up 22 points. The NASDAQ was up to. 220 points, 8 tenths of a percent.

Some of the chip makers made a rebound from last Friday's ugly sell-off. Companies whose shares hit fresh all-time highs on Monday include Old Dominion Freight Line, CSX, United Rentals, and Eli Lilly. Today's showing is a little bit unpersuasive that it would just be won and done. There wasn't a whole lot of conviction behind this bounce. What you would consider the dead cat bounce level, the 20-day average, didn't go up beyond it. NBC's Mike Santoli. Apple's Worldwide Developers Conference delivered the AI that some investors have been waiting for. Shares popped higher. In fact, they hit an all-time high in midday trading Monday, but by the end of the day, they were down again in the red almost 2%, because many investors just wanted

more. You know, from the user perspective, what they announced today is on par with what Chachini was offering for free two years ago. That's a big step for Apple. They didn't have that. Now they do. It's running on their own architecture. I think what the argument they're trying to make is they've done the hard work now. This is the reset. They've announced it. All the things people are talking about in terms of agenic workloads or automating apps or doing even more in the future, they have the ability to do that now as the market develops. The Verge editor-in-chief, Nilai Patel on CNBC. The parasitic screwworm fly is now in the U.S. investigators watching possible cases in cattle and a dog in Texas. The USDA says there's no

public risk to the beef or dairy food supply, screw worm was eradicated and had been since the 1960s. We have moved into containment. The two cases in South Texas, the food supply is not at risk. This is not a virus. It's not a disease. It's just a little pest, a larva that lands in a, in a calf's wound, for example, and it can be treated. So the two calves that were found last week, last Wednesday, have been treated. They're expected to fully recover. Agriculture Secretary Brooke Rollins on CNBC. She tells CNBC the screwworm flies will be gone again by breeding with sterile males, and that's underway. We have been moving at Trump speed. The big fly facility we're building for the first time in America. We broke ground. We're already dropping about 10 million sterile flies a week right now on the affected area. We also have a lot of treatment opportunities from the FDA. They went on an emergency fast track approval process last year. you're preparing for today. And that's why, again, we're in a much better spot today than we were

back then when it took years. We have all the veterinarians on the ground, mobile testing units ready to go to, again, contain as we're working with all of our great ranchers and livestock producers. Convicted FTX founder Sam Bankman-Fried has formally asked for a Trump pardon. He's serving a 25-year federal prison sentence after being found guilty of orchestrating a massive crypto fraud scheme that misused billions of dollars in customer money. On Tuesday, watch list, we get earnings from shoe retailer designer brands and J.M. Smucker. We'll also get some new numbers on existing home sales. Jessica Eddinger, CNBC.