CNBC Business News Update - Market Midday: Stocks Mixed, Caterpillar Drags Dow, Duolingo Soars

Episode Date: August 7, 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. Stocks are mixed in midday trading. The Dow down 318 points. The S&P 500 lower by 7, the NASDAQ up 89. Caterpillar is pulling the Dow down, shares lower by more than 3%. Morgan Stanley downgraded the construction equipment maker, saying the stock's recent run higher is unsustainable, and warning investors to steer clear of the stock as tariffs hit the business.

Conoco-Phillips is lower, despite beating on the top, and bottom lines, the company completing its acquisition of Marathon Oil and announcing it will sell its Anadarko Basin assets. CEO Ryan Lance talked about how tariffs have impacted his company. We're seeing some deflationary forces a bit in the business, offset by some of the tariff impacts with steel and aluminum. But by and large, with a reduction in the rig rate, we're seeing some deflation across the U.S. side of the business

with a little bit of inflation going on globally. but it hasn't really been a significant cost of goods increase. Crox is on pace for its worst day since 2011 and trading at its lowest level since November 2023. The company expects third quarter revenue to fall between 9 and 11 percent and says it won't reinstate full year guidance, citing uncertainty around global trade policy. Shares of duolingo skyrocketed more than 30 percent after the language learning platform boosted its guidance due to strong user growth driven by AI. Jill Schneider, CNBC.

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