CNBC Business News Update - Market Midday: Stocks Lower, Markets Off Earlier Lows, Consumer Sentiment Much Better Than Expected 6/13/25

Episode Date: June 13, 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 in the red this afternoon on Israeli airstrikes on Iran with oil prices surging but the major averages are off their earlier lows. They've recovered quite a bit. The Dow is down only 391 points now. That's just under 1%. It's being led lower by shares of Verizon which are down almost 5%. The S&P 500 index down 23 points, the NASDAQ down 93. Nvidia shares are down almost 1.5% this afternoon. There's a market reaction, obviously,

in oil, you see gold spiking. I think the markets, they'll watch it like the rest of us. They'll watch it day to day. That's former Fed member and current Goldman Sachs Vice Chairman Robert Kaplan on CNBC. Philip Morris, Raytheon, McKesson, Oracle and Casey's General Stores have all hit fresh all time highs today. Also, Curtis Wright shares hit a fresh all time high in the sell off today. It first listed on

the New York Stock Exchange in 1929, formed out of the Wright Brothers airplane company. Consumer sentiment rebounded to a much higher level than expected. Americans are starting to get over the Trump tariff shock. But today it's all about Israel

carrying out airstrikes against Iran, killing Iran's most senior military official, among others. Israel said the attacks targeted locations that were related to the country's nuclear program. The U.S. has maintained it had nothing to do with it. One take from Plurimi Welts, Patrick Armstrong on CNBC. You should be looking through this. I think Iran's in a very difficult situation that it can't respond proportionately. Iran would really be shooting itself in the foot if it actively disrupts supply chains through the Strait of Hormuz because it's getting its oil out to China through that

strait. So I don't think this is something that is likely going to turn into a real economic shock. We're probably going to get back into a status quo and uneasy feeling where the Middle East is going to have these tensions. U.S. crude oil spiked 13% on the attacks, its biggest daily price increase in five years before pulling back a little bit.

Drivers could feel that at the pump in the coming weeks. AAA says the national average for a gallon of regular right now is $3.13. Watch Boeing an air India 787 dreamliners after takeoff yesterday in crash of that popular wide You retract the flaps in t see in this video that the

in the extended, right? We see in this video that the landing gear is still in the extended down position, right? So the flight data recorder can give you positions of the flight controls, the position of landing gear. We can obviously see in this video that it's down. So you gather all this information and then certainly they will be able to put a complete picture together. That's Archer Aviations, Billy Archer on CNBC. He's a former FAA administrator.

President Trump signaling he will protect migrant laborers working in the U.S. in agriculture and in hospitality. These statements, an official says, sought to soothe leaders of those industries. It's U.S. Open Golf Round Two today in Oakmont, Pennsylvania. And new in theaters, Neon's The Life of Chuck, A24's Materialists. And Universal and DreamWorks Animation's live action, How to Train Your Dragon. Jessica Edinger, CNBC. You come to my show and you learn how to do stops. Mad Money, weeknight 6 Eastern, CNBC.