CNBC Business News Update - Market Midday: Stocks Higher, Nasdaq Touches Fresh Record High, Apple's Biggest Event Of The Year Is Tomorrow 9/8/25

Episode Date: September 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.

I'm Jessica Eddinger, CNBC. We've got records on Wall Street today. The NASDAQ hit a new record high. We've got all the major averages in the green as investors wait for the latest on inflation coming later this week. The Dow is now up 38 points this afternoon. Amazon shares leading at higher. They're up almost 2%. The S&P 500 index up 19 points. The NASDAQ up 151 points. It's off its earlier high. NVIDIA shares are up about one and a half percent this afternoon. Investors are waiting for the latest on inflation coming this week, a possible Fed interest rate cut maybe later this month, all after a very weak August jobs report, and they're all connected. We know inflation, and that August CPI gets reported this week, maybe elevating, but that the markets are going to begin to view that as transitory,

whereas the weakness in the labor market, as you know, once it begins to weaken, it's very hard to reverse that momentum. So I think it's important for the Fed to intervene quickly. Fundstrats Tom Lee on CNBC. The S&P 500 Index is getting two new names. Robin Hood and Apple Lovin will be joining the SMP 500. Now, these two will officially join the index in two weeks, replacing Caesar's Entertainment and Market Access Holdings.

CNBC's Sylvana Hana. Apple will hold its biggest event of the year, tomorrow. New iPhones are expected, but iPhone fans may want to wait another year or two. The first major new iPhone design since 2020. This is a super thin model. The internet has started calling the iPhone Air. We'll see what it's actually called at the event. We're expecting a foldable iPhone in 2026 and a radical new design in 27 for the iPhone's 20th anniversary. As for artificial intelligence, not really expecting much on that front. The real AI update is coming next when Apple says it's going to ship the AI update to Siri, it had to delay this year.

CNBC's Steve Kovac. Tesla's market share in the U.S. has dropped to its lowest in eight years. The U.S. on pace to lose about $30 billion in international tourism this year as the country's political environment continues to deter foreign travelers from visiting. The U.S. International Trade Administration says the drop in Canadian visitors alone will be nearly 20%. 500 select target stores will stay open until midnight local time, Thursday, October 2nd to sell Taylor Swift's Life of a Showgirl album. That's according to Variety. Warner Brothers' conjuring last rights won the weekend box office and marks the seventh straight film by that studio that's opened above $40 million.

Variety says no other studios ever achieved that. Jessica Eddinger, CNBC. Celebrating 30 years of Squatbox and streaming on CNN. NBC Plus.