CNBC Business News Update - Market Close: Stocks Mixed, Investors On Edge Over tariffs, CNBC's Top Sports Empires List Is Out 7/8/25

Episode Date: July 8, 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.

Wall Street opens Wednesday morning after a mixed and flat day for stocks, investors on edge about tariffs and what's coming next. The Dow fell one hundred sixty five points, three tenths of a percent. Nike shares let it lower. They were down three and a half percent. The S&P 500 index down four points, the NASDAQ up five points. Nvidia shares were up a little more than 1% on Tuesday. Companies whose shares have hit fresh all-time highs today include Booking.com, Parent Booking, Holdings, Coach Parent Tapestry, Uber, McKesson and Oracle, but not all investors are convinced. The tariff situation isn't great and there's still a lot of ambiguity. We know that supply chains are going to be messed up from that but we don't know how. We don't know how inflation is going to be impacted yet.

That's assuming a really wonderful scenario. So my apprehension on the bull market is that people are expecting more than they're going to get and when people's expectations become misaligned with what really happens they behave badly. Gilman Hills Jenny Harrington on CNBC. The deadline for President Trump's reciprocal tariffs on a number of countries has been pushed to August 1st. And coming soon, tariffs on copper. The copper miners' shares were up as much as 5% Tuesday.

Freeport, MacMoran, Ivanhoe and Sandfire to name a few. He intends to go to 50 percent, which will be similar to steel and aluminum, which are both 50 percent. So copper will be 50 percent. And the idea is to bring copper home. We need that kind of production in America. Then copper will be set, likely to be put into place the end of July, maybe August 1st. That's Commerce Secretary Howard Lutnick on CNBC. President Trump also threatening to impose up to 200% tariffs on pharmaceuticals not made in the U.S. very soon. Boeing delivered the most airplanes in June

in about 18 months after ramping up a 7 37 max output CNBC's big list is out at the top is L. A rams, the Denver nug Avalanche and many stadia media company. These are reshaping the business of top spot in this inaugura is Cronkyite Sports and Entertainment,

worth $21.2 billion. Then there's Jerry Jones' Cowboys Empire, which takes the second spot, valued at more than $15 billion. The Harris Blitzer Sports and Entertainment Group comes in third place at $14.6 billion. And then Fenway Sports Group and Madison Square Garden Sports round out the

top five. C&BC's Dominic Chu. On Wednesday's watch list we get the feds minutes from the last meeting with possible hints on the direction of interest rates. Samsung's Galaxy Unpacked event is set to show off new phones in New York City. Jessica Edinger, CNBC.