CNBC Business News Update - Market Midday: Stocks Higher, Nvidia Hits $4 Trillion Market Cap, Twitter/X CEO Steps Down 7/9/25

Episode Date: July 9, 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 is higher. It's a record setting day. The Dow off its earlier highs. It's up 66 points. Boeing shares leading at higher. Boeing's up four and a half percent. The S and P 500 index up 15 points in the NASDAQ up 99 points. Now Nvidia shares are still up almost 2% this afternoon. Nvidia this morning became the first four trillion dollar company ever. We got the Nvidia record market cap. Oh there you go. Alright, hey, who is the leader of Mice and Guy on Earth? Jensen Long! I know that there's a tenner, especially in New York City, about rich people and how they conduct themselves. This man's made more millionaires than anyone in America, and he just is so grateful that people made money with Nvidia. CNBC's Jim Cramer and Carl Quintanilla. Investors rattled by President Trump, sending more letters dictating high tariff rates around the world. The latest went to the Philippines, Brunei,

Moldova, Algeria, Iraq and Libya. The new tariff deadline appears to be August 1st. Twitter NowX has lost its CEO Linda Yakarino stepping down after two years. Her departure comes one day after Musk's chat bot Grok made anti-Semitic comments and referenced Hitler when asked about the Texas flooding. Investors are also digesting those 50 percent tariffs announced on copper imports, which sent copper prices soaring. The metal posted its highest single-day gain yesterday since 1989. Americans could pay more for new construction homes, appliances, electronic devices, batteries and LED lights.

More people applied for mortgages to buy homes last week than the week before as mortgage rates ticked down to their lowest in three months. The average, 6.77% for a 30-year fixed home loan. Home buyer demand also being fueled by more homes on the market to choose from. Starbucks China attracting bids that value the coffee chain at up to $10 billion, according to three people familiar with the deal process who spoke with CNBC.

Shares of Ray-Ban maker Esselor Luxotica are higher. Facebook parent Meta reportedly is buying a piece of the company after making its Meta Ray-Ban smart glasses. Metta has reportedly acquired a near 3% stake in the eyewear maker Essilor Luxottica. Now according to Bloomberg the minority stake is worth around 3 billion euros and the social media giant may look to increase its holding in the future. CNBC's Steve Sedgwick in London. Willie May's personal collection going up for auction in September. The items include his Presidential Medal of Freedom, his 1954 World Series ring when he played for the Giants, the New York Giants, and his Baseball Hall of Fame induction ring

and lots more. Hunt Auctions in San Francisco will handle the sale proceeds to be donated to the Say Hey Foundation. Samsung's Galaxy Unpacked event is on today in New York showing off new phones. Jessica Edinger, CNBC. Which American states are driving business? Last year, Virginia took the honors. Which state will be the top state for business this year?

America's top states for business, the full list revealed Thursday and streaming on CNBC+.