CNBC Business News Update - Market Midday: Stocks Mixed, Whip-Saw Day On Whether President Trump Will Fire The Fed Chair, Private Market Investments Might Come To Your 401k 7/16/25

Episode Date: July 16, 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 a whipsaw day on Wall Street over whether President Trump would soon fire Fed Chair Jay Powell. One report said yes then the president today denied that the Dow back in the green up 45 points this afternoon. Johnson and Johnson shares leading it higher they're up almost 7% the S&P 500 index now unchanged. The NASDAQ down 16 points and video shares are still in the red down about a tenth of a percent. That has been sacred ground and you need the checks and balances in government and that's one of the critical ones. So somebody who just wants to cut rates to

support their tax bill and number two to help all their friends around the country right similar to what that's being done with private equity is just a mistake. Bottom line is I don't think it would be a good thing for the market. The pledge any of these people can have to make are to cut rates regardless of what the market's telling you but to me it's clear that he's going to try and do something. Short Hills Capital's Stephen Weiss on CNBC. Inflation at the wholesale level came in unchanged for last month after consumer inflation popped higher in June. PPI comes in unchanged.

Unchanged, we're expecting up two-tenths. Unchanged will be the smallest inflationary wholesale increase in it since March of this year. However, if you look at revisions that changes things. The revisions are coming through on a month over month data. So last month we had up on all three metrics. Those have all moved higher. CNBC's Rick Santelli. And about those revisions for last month, here's a take from macro policy perspectives President Julia Coronado on CNBC.

It means that the year on year is going to take higher. So I wouldn't say there's like a five alarm fire on inflation, but we do see tariffs pass through on the good side. And then what we're seeing on the services side is evidence of weak demand in particular travel prices have been a huge weak spot this year as demand falls from foreign visitors as well as domestic travel is just weak. Consumers are just cautious. Bank of America with mixed quarterly results. Net interest income there missed analysts' expectations, but chipmaker giant ASML smashed expectations on second quarter net bookings.

401k investors could add private market investments to their savings. The Wall Street Journal and FT are reporting President Trump's expected to sign a new executive order in the coming days, allowing 401k providers in the U.S. to gain more exposure to private market investments. The order, once official, could pave the way for names like Apollo, State Street, KKR, and Blackstone to access the more than $12 trillion in assets held by 401K accounts as of 2024. The move coming as these private equity giants appear to be hitting a wall for their existing investments, forcing many to turn to areas like private credit as a way to generate big

returns. JP Morgan Chase CEO Jamie Dimon just earlier week. Calling that move a recipe for a financial crisis while at the same time committing $50 billion to fund his bank's push into the sector. CNBC's Frank Holland. KFC trying to lure customers back to the chain by giving out free buckets of chicken with a $15 purchase through the app or website. The chain says it's made great strides to improve the chicken, although the recipe hasn't changed, but it says it's improved the operation to make things better. Today is National Hot Dog Day. You'll find deals and discounts at various chains, restaurants

and convenience stores. Jessica Edinger, CNBC. Breaking earnings news. This week on CNBC and streaming on CNBC Plus.