CNBC Business News Update - Market Midday: Stocks Mixed, Boeing Shares Fall After Air India Crash, Jobless Claims Higher 6/12/25

Episode Date: June 12, 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 in the green again. This afternoon, the Dow has been up and down, but it's up 23 points. And that's just about a quarter percent being let higher now by shares of United Health, which are up 2 percent. The S&P 500 index up 14 points, the Nasdaq up 42 points, Nvidia shares up 1% this afternoon. Companies who shares have hit fresh all time highs today include Philip Morris, Oracle and Microsoft. Boeing shares down about 5% after the Air India Boeing 787 Dreamliner crash less than a minute after takeoff in a man about it was heading to London. NBC News reporting that one person did survive of the 242 on board.

It was the very first crash for the 787 Dreamliner model. The weather was clear by all indications, so it really does come down to a couple of things. Was it a mechanical or software issue with the plane and or the engines? Was it pilot air? Those are all things that investigators will be focused on. The Dreamliner as well as the engines that powered this aircraft, they both have stellar track records. Investigators will get the cockpit data recorder, the voice recorder, those will give the biggest pieces of information. CNBC's Phil LeBeau, Boeing CEO Kelly Ortberg was just trying to turn the company around.

We don't know what, if there's any responsibility for GE, let alone of course Boeing. It's definitely a nightmare for leadership. Things were going so well. I've known all six prior Boeing CEOs quite well, but I don't know Kelly Ortberg. But he did come in with some questions because he was in charge of Rockwell Collins that designed the MCAS system that was part of the controversy of the 737 max issues. But he took charge and he's doing everything right. That's Yale School of Management's Jeffrey Sonnenfeld on CNBC. FinTech company Chime has opened at $43 a share on the Nasdaq. Its debut, it issued

stock to the public for the first time today, pricing above the $27 it had originally sought. The company provides online banking services. It's not a bank, however. Customers on social media have criticized it for lacking fraud protections, which the company says it's working on. More people than forecast applied for unemployment benefits last week, the highest number this year. and forecast applied for unemployment benefits last week, the highest number this year, 248,000 on initial claims as we inch ever closer to 250,000. You

have to go back to october of last year to find a higher number. We all know what that was october of last year. You're talking about 250,000. That's CNBC's Rick Santelli. Here's former U.S. Treasury Secretary and current IBM Vice Chairman Gary Cohn on CNBC with his take right after the numbers came out. The number that's most concerning to me is the claims number. We've got to start paying attention to the fact that the job market clearly feels like it is slowing down. Looking at the continuing claims number, it's moving in the wrong direction to

the number of people still collecting unemployment checks notched its third week above 1.9 million, suggesting it's taking people longer to find that next job US Open Golf round one on in Oakmont, Pennsylvania today. Jessica Edinger CNBC. The club is really about empowerment.

What I like about Jim is he makes it easy for someone like me to understand how to invest my money properly. Boo-yah Jim! Get invested! Join the club today. Go to CNBC.com slash join Jim.