CNBC Business News Update - Market Midday: Stocks Mixed, Delta Airline Shares Soar On Brighter Outlook, Ferrero Buying WK Kellogg 7/10/25

Episode Date: July 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 mixed this afternoon. We've got the Dow higher up 243 points a half percent. Nike shares leading it higher up two and a half percent. The S&P 500 index in the green this afternoon up 14 points. The Nasdaq still in the red but down only 11 points. Nvidia shares are unchanged after it hit a $4 trillion valuation yesterday, the first company in the world to do that.

The number of people who applied for unemployment benefits last week was lower than expected. It was a holiday week. 227,000 is our number for the week of July 5th on initial jobless claims. 227,000 will be the smallest number since mid-May. It really has been kind of very, very steady on continuing claims.

Another month above 1.9 million. These are the highest numbers going back to 2021. CNBC's Rick Santelli, but that continuing claims number is the number of people who are already collecting unemployment checks. It did pop to its highest in three and a half years suggesting it is taking people longer to find their next job Delta Airlines shares are soaring on better than expected Quarterly results on a brighter full year forecast for the airline Delta CEO told CNBC as of the middle of next month the company's adjusting capacity Delta's CEO told CNBC as of the middle of next month, the company's adjusting capacity,

adjusting for demand as people are watching their budgets and pulling back on some of those plane tickets. It's better for the airline. You have the impact that we've seen from the tariff battles and all the global trade wars that are being waged. There's been a big pullback over the start of the year. Main cabin is down 5%.

Main cabin is down, and Main cabin is down and that's where you have your most price sensitive customers. What you'll see post mid-August is you'll see industry capacity, particularly in the main cabin, domestically coming down significantly. Delta CEO Ed Bastion on CNBC with CNBC's Phil LeBeau. Consumers spent slightly more in June in the New Bank of America data, but spending is cautious. We did see the consumer rebound in June, but on a seasonally adjusted basis, that rebound didn't offset the declines that we'd seen earlier in the quarter. What I would say, if you were taking the temperature of the consumer right now, they're cooling,

but they are not collapsing, right? You're seeing households kind of make some decisions, manage their budgets, some softness in certain areas. BIA Weisle is Everett Krisberg on CNBC. CNBC is out with America's top state for business in a new analysis. North Carolina, the Tar Heel State, with top five finishes in growth and entrepreneurs business friendliness like

last month, promising mor building fuel efficient a a big win in a state still loss. Hurricane Helene, a $60 billion disaster worsening a statewide housing shortage. But through it all, the state keeps growing. North Carolina, America's top state for business, 2025. CNBC's Scott Cohn. As Americans struggle with their budgets, McDonald's has added a more affordable option to menus today. Customers have been begging for snack wraps and they're back nationwide.

Jessica Edinger, CNBC. President's latest, I swear he's watching. Squawk Box, 6 a.m. Eastern and streaming on CNBC Plus.