CNBC Business News Update - Market Midday: Stocks Higher, Iran Reportedly Signals It Wants To Negotiate, Waiting For Air India Crash Info 6/16/25

Episode Date: June 16, 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 Ettinger, CNBC, rising stocks this afternoon on Wall Street to start a busy holiday week as the markets will be closed this Thursday for Juneteenth. Iran signaling, according to the Wall Street Journal, that it wants to negotiate. We've got the Dow up 355.8% off its earlier high, though. It is being led higher by shares of American Express, which are up 2.8% this afternoon. The S&P 500 index is up 60 points, that's 1%. The NASDAQ up 285 points, that's 1.5%.

Nvidia shares are up almost 3% this afternoon. 16 52 week highs for S&P 500 companies. You've got IBM, Microsoft, Palantir, Darden, and yes we continue to show the resiliency in this market. That's Vertis investments Joe Terranova on CNBC. Natural gas prices are spiking while oil prices aren't, Israel has attacked Iran's biggest natural gas field. Oil really is flat to even down. Natural gas is up. OPEC not responding yet. The key thing to watch, the Strait of Hormuz, the shipping channel, it is still very, very

busy. Ships everywhere. That is critical to watch. And of course, U.S. production. We are at a record high, just under 13.5 million barrels per day. That's CNBC's Brian Sullivan. The group of seven countries representing the world's top economies are meeting in the Canadian Rockies today. President Trump is in Calgary, Alberta as new U.S. trade tariffs are a source of deep tension. The Air India, Boeing crash and military escalations

have all darkened the mood today at the Paris Air Show. CNBC's Phil LeBeau is there and spoke with the US transportation secretary on site. If there was any whiff of, hey, there's a systemic problem with Boeing or GE, you would know about it. Is there any reason for you at this point to question or worry about Boeing, Dreamliners or GE engines? So we sent an NTSB team, FAA team over to provide assistance to the Indians.

And again, data is pulled from the engines and the airplane as the flight departs. If there was an indication that there was anything wrong with the Dreamliner, the 787, we would actually take significant action. We don't have that, so we're going to wait for the data to come in and we'll see what happened on that flight. That's U.S. Transportation Secretary Sean Duffy on CNBC with our Phil LeBeau. Meantime, the CEO of Lockheed Martin says more fighter jets could be ordered in a world with a number of conflicts happening. We are in probably the beginning of a three to five year surge in defense spending, especially here in Europe.

The first couple of years there was a lot of dialogue and understanding the issue and understanding the demand for deterrence capability. Now we're starting to see those budgets come into play in the European countries, as well as some increases back in the U.S. domestically. So I think for the next three to five years, budgets are gonna be pretty substantial. Lockheed Martin, CEO, Frank St. John on CNBC. Universal's How to Train Your Dragon Sword

to a record $84 million opening over the weekend. It's one of the top 10 starts of all time for a live action remake of an animated movie. Universal is a sister company to CNBC. Jessica Edinger, CNBC. The club is really about empowerment. What I like about Jim is he makes it easy for someone like me to understand how to invest my money properly. Boo-yah, Jim! Get invested! Join the club today. Go to CNBC.com slash join Jim.