CNBC Business News Update - Market Open: Stocks Higher, July Inflation Came In Better Than Expected, Spirit Airlines Needs Cash 8/12/25

Episode Date: August 12, 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 Ettinger. CNBC inflation came in slightly better than expected for July and stocks are popping on Wall Street. The Dow up 263 points, more than a half percent. It's being led higher by shares of Goldman Sachs up one and a half percent. The S&P 500 index up 41 points. That's a half percent. The NASDAQ up 168 points, 8 tenths of one percent. invidia shares are in the green today up a tenth of a percent consumer prices rose last month slightly less than expected amid tariff worries in the new cpi consumer price index report year over year numbers 2.7 that's the headline that's one 10th cooler than we are expecting and here's what i was looking at 3.1 percent on the year over year core definitely hotter than So if I look at the data on the month-over-month basis, it's exactly as expected.

If I look at the year-over-year, obviously we got a little bit warm on the core. CNBC's Rick Santelli. Here's more from CNBC's senior economics reporter, Steve Leesman. Places where there are tariffs, there are price increases. Furniture and betting up 0.9 percent. Household furnishings up 0.7% after being up 1%. These are things that used to be up 1% in a year. So they are there.

but what you have, you have an offset in energy. That's been helpful. Spirit Airlines out today with a warning. The company may not survive without a cash infusion. Tesla's CEO Elon Musk threatening immediate legal action against Apple for where it's placing its AI app called GROC in the Apple App Store. What he's basically saying is that Apple is giving OpenAI preferential treatment in its app store rankings. And as we all know, Apple has a partnership with OpenAI for powering its Siri and Apple intelligence products.

And that in and of itself is not an antitrust violation. But if indeed Apple is giving preferential ranking to chat GPT to OpenAI's product, you know, Musk could have a case. Fortune contributing editor Mikhail Levram on CNBC. Haynes Brand's shares were surging more than 40% after the Financial Times reported, citing people familiar with the matter that the T-shirt maker is close to being bought by Gilden Activewear. Swiss sneaker maker on shares were higher on better than expected quarterly results. Intel shares were higher after President Trump called its CEO a success following a meeting at the White House just days after demanding his resignation. Spotify had an early heads up on Taylor Swift's new album, which she just announced.

It placed billboards in New York City's Times Square in Nashville with a code leading to a track list. Swift is signed to Republic Records owned by Universal Music Group. The latest chain to add Dubai chocolate items to the menu is Paris Baguette, according to brand eating. The Alien franchise heading to the small screen for the first time today, Alien Earth premieres on Hulu. Jessica Ettinger, CNBC. Start streaming. Go to CNBC.com slash plus.