CNBC Business News Update - Market Close: Stocks Mixed, Investors Lean Into Healthcare And Out Of Tech, Average New Car Payment $750 In Q2 7/1/25

Episode Date: July 1, 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 Wednesday morning after a mixed start to July trading. It was also the first day of the third quarter and the start of the second half of the year. Investors leaning into health care and away from tech shares. The Dow soared up 400 points, nine tenths of percent, led higher by shares of UnitedHealth up four and a half percent. The S&P 500 index was down six points, falling from a record high. The Nasdaq also falling from the record high it opened with down 166 points, eight-tenths of a percent. Nvidia shares were down almost three

percent on Tuesday. Companies who shares hit fresh all-time highs include Royal Caribbean, Cardinal Health, CrowdStrike, and McKesson. Investors are thinking about the second half of the year now that it started, and there are questions. What's been really interesting about the market is it almost seems like it's been shrugging off not knowing about the tariffs and geopolitics.

It's been a market that has just come completely back off of the April lows. And the bar is high though, right? Because we are at these all-time high valuations, the market's been rallying. And what's around the corner is what will determine the path for the second half of the year. What is the Fed going to do? Is Iran and Israel, is that a 12-day conflict? Is that really over what happens with tariffs? Defiance ETFs Sylvia Jablonski on CNBC. Tesla shares fell 4% as the feud between CEO Elon Musk and President Trump ramped up.

If you look at Elon Musk you have to be saying what are you doing man? You're jeopardizing not only Tesla but probably from a larger extent SpaceX. So it's incumbent upon him to stop antagonizing the president. He's talking about how he's going to potentially form a new extent SpaceX. So it's incumbent upon him to stop antagonizing the president. He's talking about how he's gonna potentially form a new political party. Big technologies, Alex Kantrowitz on CNBC. Americans taking on big debt with new car loans. In the second quarter,

the average monthly payment was 750 bucks. You are seeing lower incentives in dealerships right now, and you are seeing prices remaining elevated and monthly loan payments. They're close to a record high. Edmunds out with a note today saying the average for a new vehicle loan in the second quarter was $756. And get this, almost 20% of the auto loans in the second quarter included a monthly payment of greater than $1,000. CNBC's Phil LeBeau. There were more job openings in May than expected in the latest Joltz report. Job opening, labor turnover for May, always two months in arrears.

We're looking for a number around 7.3 million, much better, 7,769,000. and that would be the highest pace of the year. You'd have to go to November last year when we're slightly over 8 million jobs. CNBC's Rick Santelli. Amazon's Prime Day sale begins next Tuesday and runs four days this year with Walmart announcing it'll also start a sale on the same day and run that for six days. Target is trying to beat them all. It's competing circle week sale starts this Sunday and runs for seven days. We may be all about summer and America's birthday this Friday, but it is not too early to get a job for Halloween Spirit.

Halloween. The retailer has opened hiring for 50,000 people, leading up to October 31st you can apply online. On Wednesday's watch list we find out how many private sector jobs were created in the U.S. in the ADP employment report. Tesla releases its vehicle delivery numbers for the second quarter and new in theaters ahead of the holiday, Universal's Jurassic World Rebirth. Universal is a sister company to CNBC. Jessica Edinger, CNBC. CNBC is the network for ambitious people.