CNBC Business News Update - Market Midday: Stocks Higher, Waiting for Latest On Inflation, Silver Prices Highest Since 2012 6/10/25

Episode Date: June 10, 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 this afternoon. The Dow now up 45 points. It's being led higher by shares of Disney. They're up 3% this afternoon. The S&P 500 index up 19 points. The NASDAQ up 68 points. Nvidia shares are still in the green. They're up about one-third of a percent. Companies whose shares have hit fresh all time highs today include Johnson Controls, Raytheon, and IBM. Investors are waiting for the inflation number which will be out tomorrow when the CPI, the Consumer Price Index Report comes out for May.

Our expectation is CPI will be neutral. We do expect that inflation might tick up a little bit over the summer. That's a new burger. Berman's Holly Newman Croft on CNBC investors also waiting for news out of the U. S. China trade talks in London in a nutshell. The Chinese want some of the best AI computer chips in the world from the U. S. And the U. S. wants rare earths, which go into all kinds of things the U.S. wants to make, including cars. Here's a take from CNBC Med Money host Jim Cramer.

There's a reserve in Mexico of these rare earths. Never talked about it. It's there. Why don't we go down the shot? Why don't we have like a plan? Just think if you're going to take on the Chinese, you better have something in your back pocket. Look, we're not strong. We're not strong. Other countries are. We should be working with our allies to come up with rare earth because otherwise what's going to happen is in a year they'll have stolen all of what Nvidia has, they'll have copied it because that's what they do, and then what do we have? We're back hat in hand.

Paramount slashing another 3% of its workforce according to a memo seen by CNBC. It's about 500 people after about 3000 were announced to be cut last summer. Paramount owns the movie studio, CBS television and CBS news plus the Paramount cable channels. The company is preparing to merge with Skydance Media. But that is pending regulatory approval

from the Trump administration. Republicans are weighing Obamacare cuts, although a new KFF survey found that more Republicans than Democrats get their health insurance through the Affordable Care Act marketplace. Millions of people are expected to lose health insurance coverage if the budget bill does become law. Silver near its highest since 2012.

Platinum also now up more than gold year-to-date. Platinum hit its highest in four years. The market for precious metals is tight and prices are higher. The gold to silver ratio is near record highs and so there's plenty of room for for silver to catch up here. You still have a tight market. There are deficits in silver. I just think in metals, risk appetite is broadening out, and so that's a nice catch up trade.

That's UBS asset management's Evan Brown on CNBC. Cruise lines have had some big moves in their shares. You've got Royal Caribbean hitting a fresh all-time high. Norwegian saw its eighth straight positive session. Add Carnival and Viking into the mix and they all have between 10 and 20 percent gains over the last month. What's driving all this? Cruises are seen as high value, which is important when consumer discretionary budgets are under pressure. Two private islands are a big draw. And these cruises are global.

So international travelers who don't want to come to the United States for vacation can still pick up a cruise in an overseas port. So that leads to bookings, even if it's not here around the world. That's CNBC's Contessa Brewer. McDonald's today added Hershey S'mores McFlurries to menus. Jessica Ettinger, CNBC.