CNBC Business News Update - Market Midday: Stocks Mixed, Inflation Rose Again Last Month, X Experiences Outage 7/15/25

Episode Date: July 15, 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 nicks this afternoon inflation rose again in June. The Dow down 306 points more than a half percent being led lower by shares of American Express which are down two and a half percent this afternoon. The S&P 500 index now down five points. The Nasdaq still in the green up 125 points. Little more than 1.5% Nvidia shares are up almost 4.5% I think what we're dealing with is a market that's up 26% over 65 trading days

and we're heading into a seasonal stretch that is not the best part of the calendar. Could we chop or consolidate here? I think that's totally reasonable. Strategist research is Chris Verone on CNBC inflation is going in the wrong direction.

Consumers paid higher prices last month. June inflation came in hotter 2.7%. Its highest since February and its biggest month over month gains since last January. If you're looking for signs that the tariffs are leading to higher consumer prices, you did see that the tariffs

are having an impact. Look at some of the areas where we're leading to higher consumer prices. You did see that. The tariffs are having an impact. Look at some of the areas where we're starting to see higher prices being paid for the consumer. There are places where we import a lot of the production. Men's shirts and sweaters saw a 4.3% increase over the month. Women's dresses saw an almost 4% increase. Appliances, toys.

There's definitely evidence that the tariffs are having an impact in raising consumer prices. CNBC's Sarah Eisen. The Fed's target inflation rate is 2%. Yet hotter inflation may give the Fed another reason to keep interest rates right where they are. NVIDIA's CEO Jensen Wong met with President Trump. And now the company's getting set to export AI chips to China. Pennsylvania Republican Senator Dave McCormick says it's a fine line to walk. We have to do two things at the same time. We have to maintain a leadership position in the most advanced chips.

So it's a balancing act. The first generation, most advanced chips have to be in the hands of the United States, but we're also going to have to recognize the world's moving. And if we can have U.S.-based companies, U.S.-friendly companies that are in the leadership role, they're going to be able to need to sell some of the lesser-most advanced to other countries. JP Morgan Chase CEO Jamie Dimon says the bank will get involved in stable coins as a fintech threat looms. Dimon says he doesn't get the appeal of stable coins, but he also can't afford to stay on the sidelines.

Apple TV's Severance leads the Emmy nominations with 27. HBO Max's series, The Penguin, had 24. Apple's The Studio and HBO's White Lotus tied at 23 nominations. HBO's The Last of Us with 16. The awards will be September 14th on CBS. On Wednesday's watch list, more earnings are coming. Bank of America, Goldman Sachs, Johnson & Johnson, Morgan Stanley, PNC Financial, ProLogist, United Airlines, and Alcoa.

We get the latest on inflation at the wholesale level with the PPI producer price index for June. The beige book will be out on current economic conditions. And Wednesday is National Hot Dog Day, deals and discounts at various restaurants. Jessica Ettinger, CNBC. Breaking earnings news, this week on CNBC and streaming on CNBC Plus.