CNBC Business News Update - Market Open: Stocks Higher, Dow Briefly Topped 53k For The First Time, LVMH Sees Taylor & Travis Pop 7/6/26

Episode Date: July 6, 2026

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I'm Jessica Eddinger, CNBC. Wall Street mixed in mid-morning trading with the Dow down 43 points. It hit a record high. Touched 53,000 for the first time and pulled back. Nike Shears, a drag on the Dow. They're down 4%. The S&P 500 index up 47 points. That's a half percent.

And the NASDAQ is now up 301 points, more than 1 percent, as the chipmakers all appear to be in the green. The former president of the federal world, Bank of St. Louis James Bullard tells CNBC. Productivity gains from AI may not allow the Fed to cut interest rates anytime soon and an increase or a hiking cycle is more likely to fight inflation. It's not enough to have the technology in place. You've got to get it through all these business cultures that have grown up over a long period of time. So the people aspect slows that down quite a bit compared to what Silicon Valley talks about. So yes, there'll be productivity improvement.

That'll be great, but that won't be enough to fix the inflation problem that the U.S. has right now. The turnaround in metals looks to continue today from last week, gold on pace for a third positive day. It's above $4,200 an ounce. Silver on pace for its fourth positive day in a row. It's now above $63 an ounce. Anthropics signed a lease for a TerraWolf data center in Kentucky about an hour southwest of Louisville. TerraWolf is a crypto mining company. It's pivoted to AI Data Center Infrastructure.

and its stock is up more than 80% this year so far. CNBC parent company Versant buying golf simulator company full swing for more than a half billion versus also the parent company of the Golf Channel. Britain's biggest budget airline EasyJet shares were popping today. It agreed to be bought by U.S. private equity firm Castle Lake, which will take EasyJet private. Investors are watching. Shares of SpaceX as the company will enter the NASDAQ index. tomorrow. After the closing bell tonight, index funds tracking the NASDAQ 100 will have to start

buying SpaceX stock whether they want to or not. There are more than $800 billion in assets that directly track the NASDAQ 100, more than half of which from Investco's QQQ. JPMorgan estimates that there will be about $4.3 billion worth of forced purchases flows into SpaceX by funds that have to reflect its weighting in the composite before it officially appears there tomorrow. NBC's Leslie Picker. Shares of French luxury giant LVMH are getting a little boost from the celebrity wedding of the year over the holiday weekend, the company's fashion house. Christian Dior seems to have an edge over its rival Chanel for the most coveted celebrity endorsements.

Buzz around luxury giant LVMH follows the wedding of Taylor Swift and Travis Kelsey at New York's Madison Square Garden over the long weekend. The couple reported to have worn Christian Dior. Dior is one of the famous brands owned by LVMH along with others like Louisville. Baton and Mark Jacobs, the couple's shoes coming from Christian Lude Baton, Swift, said to have worn jewelry from Cartier. That's CNBC's Andrew Ross Sorkin. Universal's minions and monsters won the weekend box office, but the film's take was the lowest debut for any of the seven films in the franchise, and some of the reviews were

the best. The Hollywood reporter says, Despicable Me Four opened to $122 million just two years ago. Disney's Toy Story 5 was second over the weekend, and it is now the third biggest money-making film of the year. You can get more on The Day in Business at CNBC.com. I'm Jessica Eddinger, CNBC.