CNBC Business News Update - Market Midday: Stocks Mixed, US-China Trade Talks Start In London, China's Exports Dropped The Most In 5 Years 6/9/25

Episode Date: June 9, 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. Kind of a quiet trading day on Wall Street. Mixed markets this afternoon as China and the U.S. are holding trade talks in London today. The Dow down 35 points, led lower by shares of travelers, which are down 2.5%. The S&P 500 index has its head above water. It's up 6. The NasDAQ up 62 points, a third of a percent. Nvidia shares are off their highs. They're up about a half percent this afternoon now. China's exports just had their sharpest drop in more than five years.

That was the pandemic. CNBC's Julianna Teitelbaum is in London with more on trade talks. All eyes are on London with US and Chinese officials coming together to resume those trade talks after the trade breakthrough that we had in Geneva. Since that trade breakthrough, relations have deteriorated with both sides accusing the other of breaking that agreement. This time around, Howard Lutnick, the U.S. Commerce Secretary, will also be joining the

discussions. Lutnick has oversight over export controls for the U.S. administration, and this is where the focus is expected to be. The U.S. wants to see more rare earth metals exported from China, and China wants to see more chips, advanced semiconductor technologies exported from the U.S. Investors are not only watching trade talks with China, they're waiting for the latest on inflation that's coming on Wednesday. We've had pretty good inflation data in the U.S. over the last couple of months.

It really hasn't shown much, if any, real impact from the tariffs. But going forward, we think the inflation data is going to start to pick up. If I look at Morgan Stanley's forecast in the U.S., we have the inflation data kind of continuing to steadily rise over the summer into the third quarter. I think this inflation report and really the next couple are going to be really important. Morgan Stanley's Andrew Sheets on CNBC. Warner Brothers Discovery splitting into two public companies next year. One will hold the movie studio and the streaming business like HBO Max. The other will hold its networks, including CNN, TNT Sports, and Discovery.

Robinhood shares were lower. It failed to be admitted into the S&P 500 index. The company hit a string of record high closes last week on those hopes. Watch Tesla shares this week. The CEO, Elon Musk, appears to be backing off the feud with President Trump. Elon Musk, he appears to have deleted some of his more inflammatory posts about President

Trump on social platform X over the weekend. And that was, of course, following last week's very public feud with the commander in chief. And among the posts that are no longer available are once tying Trump to Jeffrey Epstein and calls for Trump to be impeached and replaced by Vice President J.D. Vance and the president telling NBC News he assumes his relationship with Musk is over. CNBC's Sylvanna Hanau. Apple's annual Worldwide Developers Conference is on today. In a normal year, Apple would use that to announce new hardware and software, but investors

aren't expecting much this year. Lowe's is expanding. USA Today says the home improvement chain plans to open as many as 15 new stores starting next year, every year. This year, new locations have already opened in Texas and Arizona. Las Vegas Casino's doing something

that has customers' attention. They're charging fees that hotels everywhere now charge. But for years, casinos made it super easy and frictionless for people to come and gamble. Now many casinos on the Vegas Strip are charging parking fees, resort fees, early check-in fees and more. Broadway theater marked a record-setting season last night with the Tony Awards. Best new musical was Maybe Happy Ending and best revival was Sunset Boulevard. Jessica Edinger CNBC.