CNBC Business News Update - Market Midday: Stocks Mixed, Chip Stocks Under Pressure, AI Race Heats Up

Episode Date: June 20, 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. It's turned into a mixed day on Wall Street. The Dow is up 50 points, the S&P 500 down 10, the Nasdaq lower by 87. Investors are contemplating the next move from the Federal Reserve and monitoring the latest developments out of the Middle East. Top UK, France and Germany diplomats are pushing for 11th hour diplomacy with Iran in Geneva as Washington weighs the possibility of joining Israel's military campaign against Iran over the next two weeks. CFRA research chief investment strategist Sam Stovall says investors are keeping a close

eye on global events. While we did hear from the president that he would look to get involved with the Iran conflict, that it's something that he'll make a get involved with the Iran conflict, that it's something that he'll make a decision about in the coming weeks. So again, a pause that causes investors to feel a little bit more optimistic that calmer decisions will be made. The AI race is intensifying as Metta looks to poach top talent from other companies. CNBC confirming reports that Mark Zuckerberg is now gearing up to hire the CEO of AI Startup Superintelligence as well as the former CEO of GitHub.

Meanwhile, Sam Altman earlier this week saying Meta was offering massive signing bonuses for OpenAI employees to join the company. DA Davidson head of tech research Gil Luria says Zuckerberg always plays to win. She's going to rebuild the team and they're going to come back. Let's not forget his capex spend on on data centers is almost doubling this year from 37 billion last year to nearly 70 billion this year. He intends to win and it's

it's hard to bet against it. Chip stocks coming under pressure today following a report by The Wall Street Journal that the US may revoke waivers for some semiconductor manufacturers. NVIDIA is down more than a percent, while Broadcom and Taiwan Semiconductor each fell more than 2%.

Accenture is the worst performer in the S&P 500 today, falling despite a beat on the top and bottom line. New bookings fell 6% in its fiscal third quarter. The company last quarter warned that Doge's crackdown on federal spending would lead to delays and cancellations of new contracts. Stablecoin company Circle Internet grew up another 19% today as investors continue to cheer the Genius Act legislation passed earlier this week.

Affleck says it's identified suspicious activity on its network in the U.S. that may impact social security numbers and other personal information. Affleck calls the incident part of a cybercrime campaign against the insurance company. It says the intrusion was stopped within hours. Jill Schneider, CNBC.

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