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Market Midday: Stocks Higher, Amazon Will Not Show Tariffs Separately At Checkout After White House Blowback, Automakers Hope For Tariff Relief 4/29/25

April 29, 20250 comments♥ 0
00:00 I'm Jessica Edinger, CNBC. Wall Street's in the green this afternoon with the down now popping 307 points, three quarters of a percent. It's being led higher by shares of Sherwin Williams. They're up more than 5 percent. The S&P 500 index is up 26 points, that's a half a percent. The NASDAQ now up 57 points. Nvidia shares are up 3 tenths of 1 percent this afternoon. Consumer confidence tanked in April to the lowest in almost five years. Consumer confidence, these are April numbers. We come in at 86, weakest since April of 2020. And if we look at expectations, you have to go all the way back to October of 2011, 2011,
00:48 to find a lower number. CNBC's Rick Santelli. Job openings in the U.S. hit their lowest since last September in the latest Joltz report on job opportunities and labor turnover. Amazon will not make it clear to shoppers what the increased cost of an item is as a result of the Trump tariffs despite earlier reports the company will not separate that out on the checkout screen. Here's CNBC's Carl Quintanilla. The White House this morning responded to reports that Amazon would display the price impact of tariffs on products calling the move quote hostile. Amazon
01:24 responded to that report saying in a statement quote, the team that runs our ultra low cost Amazon Hall store has considered listing import charges on certain products. This was never a consideration for the main Amazon site. I think Amazon's gone out of its way to say this was just something considered for Amazon Hall, which would be the part of the business that competes with Shein and Tmoo, where you've seen prices rise pretty
01:44 aggressively. But I would think at the end of the day, Amazon, the adults in the room wouldn't have gone ahead with something like that. This is a company, all my years of tracking Amazon, that's been pretty darn apolitical. Evercore ISI's head of internet research, Mark Mahaney. Lawmakers in Washington are trying to shift the focus from tariffs to tax cuts as they work on a new tax bill. Meantime, the Treasury Secretary was asked about taxes for working Americans. President Trump is adding the things for working Americans that he talked about earlier, no tax on tips, no tax on overtime, no tax on Social Security, making auto payments deductible.
02:22 So that will substantially address the affordability crisis. Treasury Secretary Scott Besson Coca Cola out with strong quarterly results. It says tariffs won't affect the company that much, but they will impact bottlers and retailers and ultimately the consumer. Coke's CEO says global anti American sentiment is something the brand can handle. There has
02:44 been some some negative sentiment in a number of countries. We find when we do face some of that negative sentiment, if we focus on the localness of its operation made in country X by people from this country, it brings the business back. So it's a problem we encountered in Q1, but we have a game plan to see us through it. Coca-Cola CEO James Quincy on CNBC. International travel to the U.S. dropped in March, according to the Commerce Department.
03:11 Visitors just deciding to go somewhere else. Certainly Canada drives out our leading travel partner. That Canadian snowbird travel of December, January, February, a lot of that was concluded by the time the Canadians kind of reached their point of peak frustration. We'll see what happens again this fall. Asia was enormous, right? Asia was huge for the United States. It's down more than 30%. It's about 200 billion that these international travelers spend. That's bigger than all of our agricultural exports combined. It's U. S. Travel Association CEO Jeff Freeman on CNBC. I'm Jessica Edinger, CNBC.