CNBC Business News Update - Market Open: Stocks Higher, Investors Like Trump Tariff Exception For Electronics, Short Trading Week 4/14/25

Episode Date: April 14, 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 popping as temporary U.S. tariff exemptions boost big tech shares today. Although President Trump hinted a flip-flop on that yesterday, confusing some investors, the Dow is up 400 points, 1% led higher by shares of Apple, which stands to benefit. They're up four and a half percent. The S&P 500 index up 68 points, 1.25%. The Nasdaq now up 227 points, 1.3%.

Nvidia shares are up almost 1% out of the gate this morning. Stocks are coming off wild swings last week with the major averages down sharply since President Trump announced his tariff policy at the beginning of the month. It is a short week for trading. Markets are closed this Friday for Good Friday.

As I mentioned, Apple shares are higher, and that's on what investors believe are a carve out for tariffs. CEO Tim Cook working to make that happen. Remember, going into the Trump administration, Cook had made that $1 million donation to the inauguration. He also showed up at the inauguration with all those other big tech CEOs. Also gone guys, no more chatter about building iPhones in the USA for now at least.

So right now this is great news. Just 20% instead of 145% in China. Again, at least 80 to 90% of iPhones are still made in China. That is still going to be a problem. CNBC Steve Kovac fun strats. Tom Lee says the tariff exemptions announced and then made temporary over the weekend are still very good for stocks in the near term. It is uh, it's a roller coaster. I mean, it does feel like we're having a lot of zigs and zags, and even over the weekend. But to me, I think everything that happened over the weekend, including this Sunday, further

explanations, all of this is still unequivocally positive for stocks. More than 60% of CEOs asked to expect a recession in the next six months as the Trump trade war continues, according to chief executive and industry group that commissioned the survey. Former Fed chair Janet Yellen tells CNBC the Trump tariff agenda is just confusing and uncertain for business leaders. It's just completely chaotic. I know a lot of relief was felt on Friday night or Saturday that electronics would be exempt from the highest Chinese tariffs. But then we were told yesterday that that's just a temporary reprieve.

So really, things have been just chaotic, the reciprocal tariffs put on and paused, don't know what's gonna happen next. Households and businesses feel paralyzed by the uncertainty about what's going to happen. It makes planning almost impossible. Goldman Sachs today out with strong quarterly results. Pfizer scrapping its experimental daily weight loss pill after a patient suffered liver injury. The company says the patient recovered after stopping the pill. Facebook parent metas blockbuster

antitrust trial on today against the Federal Trade Commission. The tax scramble is on for procrastinating Americans. Tomorrow's tax day many people finalizing returns. Warner Brothers, a Minecraft movie, won the weekend box office again with a massive $80 million in ticket sales. Jessica Edinger, CNBC.