CNBC Business News Update - Market Open: Stocks Higher, Oil Prices Drop, Tesla RoboTaxis Under NHTSA Scrutiny 6/24/25

Episode Date: June 24, 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 in the green this morning after President Trump posted the tentative Israel-Iran ceasefire is in effect, although the president said he's not happy as both countries are claiming ceasefire violations by the other. The Dow still up 340 points. That's eight tenths of a percent. It's led higher by shares of Amazon this morning. They're up two and a half percent. The S&P 500 index up 50 points. That's 8 tenths of a percent. The Nasdaq is up 231 points.

More than one percent now. Nvidia shares are soaring. They're up two percent. There is clearly a baseline assumption in all of this that this wouldn't escalate too far if you looked at the reaction, even when you did see all prices move up. It seemed relatively limited. And now at least that confidence does seem to be justified. But like you, watching the headlines minute to minute.

That's BNP Paribas Daniel Morris on CNBC. But some investors are out with some warnings. Here's Stiefel's Barry Bannister on CNBC. We think there's going to be a consumer slowdown and you'll see some data on that Friday with personal consumption. As the consumers pull back, precautionary savings go up, consumption slows and that's 68 percent of the economy. Oil prices drop another three percent today. Oil stocks, little change, but airline shares went up on that oil price drop. Fed Chair Jay Powell being grilled by a House committee today. It's his

annual testimony on Capitol Hill. This, as a third Fed board member, says a rate cut may be on the table if inflation stays tame. Starbucks says a report by a Chinese media outlet saying the company is looking for a buyer for its business in China is incorrect. Starbucks says it's not currently considering a full sale of its China division. Tesla robo taxi incidents caught on camera in Austin have regulators' attention. The National Highway Traffic Safety Administration says it's contacted Tesla after reviewing online videos of robo taxis allegedly in the wrong lane and speeding on roads in Austin the Texas Department of Transportation. The Texas Department of Public Safety Administration says it's

contacted Tesla after reviewing online videos of robotaxis allegedly in the wrong lane and speeding on roads in Austin, Texas. Now, Tesla began a limited paid robotaxi service with a dozen or so cars in the city on Sunday. Now, Tesla

hasn't responded to a request from Reuters for comment. CNBC's Silvana Hannau. Facebook and Instagram parent meta, absent from the San Francisco Pride celebrations this year, retreating from support of the LGBTQ community. The Thunder celebrating their 2025 NBA Championship today with a parade through Oklahoma City. Billionaire Amazon founder Jeff Bezos and his fiance Lauren Sanchez have started a three-day wedding celebration in Italy. It's reportedly costing more than $20 million and it's full of celebrities.

Jessica Edinger, CNBC. Support Pride Month when you join the Sharks and Shop the Tank. Tonight, 9 Eastern, CNBC.