CNBC Business News Update - Market Midday: Stocks Mixed, Dow Rallies 400 Points, More Job Openings Than Expected In May 7/1/25

Episode Date: July 1, 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 mixed this afternoon. The Dow is soaring to start July. It's up 444 points, more than 1%. Amgen shares leading it higher. They're up almost 5%. The S&P 500 index is in the red. It's down 13 points. The NASDAQ down 214 points, more than 1%. Nvidia shares are falling 3.5% this afternoon. Companies who shares hit fresh all-time highs today include Royal Caribbean, Cardinal Health, CrowdStrike and McKesson. Investors are thinking about the second half of the year now that it's begun, and there are questions. What's been really interesting about the market is it almost seems like it's been shrugging off not knowing about the tariffs and geopolitics.

It's been a market that has just come completely back off of the April lows and the bar is high though, right? Because we are at these all time high valuations, the market's been rallying and what's around the corner is what will determine the path for the second half of the year. What is the Fed going to do? Is Iran and Israel? Is that a 12-day conflict? Is that really over? What happens with tariffs? Defiance ETFs Sylvia Jablonski on CNBC. There were more job openings in May than expected in the latest JOLTS report.

Job opening, labor turnover for May, always two months in arrears. We're looking for a number around 7.3 million, much better. 7,769,000 and that would be the highest pace of the year. You'd have to go to November of last year when we're slightly over 8 million jobs. CNBC's Rick Santelli. General Motors overall sales up more than 7% in the second quarter. And look at electric vehicle sales. GM doesn't break out its sales as other automakers do by hybrids versus internal combustion engine

vehicles. But it did make note of the growth in electric vehicles as GM continues to expand that portfolio. EV sales in the second quarter compared to Q2 of last year, up 111%, more than doubling compared to where they were last year. And that was expected as they continue to expand their EV portfolio. How did that compare to Ford? Ford was down 31% when it comes to EV sales in the second quarter. CNBC's Phil LeBe quarter. CNBC's Phil LeBeau with CNBC's Wilfred Frost. Amazon's Prime Day sale begins a week

from today and runs four days this year. Walmart announced it'll also start a sale on the same day and run for six days. Target starting its competing circle week sale earlier trying to get a jump on both Amazon and Walmart. Target's sale begins this Sunday. It'll run for seven days. We may be all about summer and America's birthday this Friday, but it's not too early to get a job for Halloween. Spirit Halloween has opened up hiring for 50,000 seasonal

workers leading up to October 31st. You can apply online. It's no buy July, a social media trend to get people to reign in their spending and pay off debt at this halfway point in the year. It's Canada Day, a holiday for our neighbors to the north. The Toronto Stock Exchange is closed. Jessica Ettinger, CNBC. CNBC is the network for ambitious people.