CNBC Business News Update - Market Open: Stocks Higher, S&P 500 Index Inches Toward Record, Weakest 1st Quarter GDP In 3 Years 6/26/25

Episode Date: June 26, 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 in the green this morning despite some disappointing economic data. The Dow is up 208 points. Boeing shares leading the way this morning up one and a half percent. The S&P 500 index nearing a record high. It's up 20 points, three tenths of a percent. And the NASDAQ is up 35 points. It is back above 20,000 this morning. Nvidia shares are up 4 tenths of 1%. Some investors are worried about the economy it contracted for the first time in three years in the first quarter

after strong growth in the fourth quarter of last year. And the contraction between January and March was worse than forecast. First quarter GDP, it really did shift dramatically down half a percent. And this all has to do with tariffs as everyone's trying to figure out what's going on with tariffs. I'm not sure anybody has figured out what's going on with tariffs. Weakest GDP going all the way back to 2022.

CNBC's Rick Santelli. The numbers show Americans are pulling back. Consumer spending also slowed sharply in the first quarter from a strong 4% at the end of last year to just a tick higher of a half percent in the first quarter of this year. A commodity group is getting some attention on Wall Street today. Market flash on metals.

Take a look. We're watching platinum surging. You can see right now platinum's up over 5% month to date. It's up just about 34% and at its highest level since 2014 on some speculative buying and reports that Chinese jewelry buyers are snapping up supplies. Take a look at the rest of the metals complex. You're seeing some upside movement really across the board right now. Palladium up more than 4% right now. Copper up over 3%. down there, gold up about a third of a percent, silver also up about 1 and 1 third of a percent. That's the NBC's Frank Holland.

NVIDIA shareholders signed off on a total compensation package for CEO Jensen Wong of about $50 million a year, but he's not the highest paid CEO out there. His pay package is not particularly out of line, particularly for the amount of value that that company has and the growth that they've experienced over the last few years. That's C-suite comps David Eikenberry on CNBC. PayPal teaming up with the Big 10 and the Big 12 to enable payments directly to student athletes. The Trump Organization has gotten rid of the Made in the USA label for the phone it started selling as part of its new cell service business.

Crypto assets may soon be allowed to be considered when you apply for a mortgage. Right now, the money the would-be home buyers are holding in Bitcoin and other coins are not used as collateral. American homeowners are warned, FEMA is not a replacement for insurance coverage. The Federal Emergency Management Agency typically provides aid after federally declared natural

disasters, but President Trump said this month FEMA will be phased out after hurricane season. I'm Jessica Edinger, CNBC. CNBC is the network for ambitious people.