CNBC Business News Update - Market Midday: Stocks Higher, Trump Tariff Warning, Palantir Record

Episode Date: August 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 Jill Schneider.

I'm Jill Schneider, CNBC. Lots of green arrows on Wall Street with all the major indexes on pace to wrap up the week with gains. The Dow is up 102 points, the S&P 500, up 34 and the NASDAQ higher by 147. Gold prices, which had already been rising this week on the hopes of a Fed rate cut, soared to a record today after U.S. authorities said tariffs should be imposed on some gold bars. Some strategists say there is still more upside ahead for the medal. President Trump is warning U.S. courts against blocking his tariff policy, citing what he says is the positive impact on the stock market and saying in a truth social post,

such a move could cause a severe economic downturn. Trump's comments come as a federal appeals court is hearing arguments on how to handle his tariff policy. Former House Speaker Paul Ryan told CNBC this week that the Supreme Court could end up disqualifying the duties being invoked under the International Emergency Economic Powers Act. Open AI CEO Sam Altman says the company should prioritize growth, even if it delays its path to profitability. Altman spoke with CNBC today after the release of GPT5, its latest and most advanced large-scale AI model. As long as we're on this very steep curve of the model's getting better and better, I think the rational thing to do is to just be willing to run into loss for quite a while and continue to do that.

Last year, OpenAI was expecting about $5 billion in losses on $3.7 billion in revenue. OpenAI's annual recurring revenue is now on track to pass $20 billion this year, but the company is still losing money. AMC networks up 15% after the company's second quarter results topped Wall Street expectations. Paramount and Skydance have officially completed their merger with David Ellison taking over as the company's chairman and CEO. Ellison spoke with CNBC about his plans for the company and the importance of AI. Everything we do, obviously, of Paramount, is really about empowering artists to tell great stories. And I think artificial intelligence is a remarkable tool to be able to do that. And you're right, it absolutely will impact every aspect of basically our business.

It's going to impact our platforms. Palantier hit a new all-time high and is on track for its best week since February. The stock is on a five-day winning streak after strong earnings and an upbue. full-year outlook. Jill Schneider, CNBC. Breaking earnings news. This week on CNBC and streaming on CNBC Plus.