CNBC Business News Update - Market Open: Stocks Higher, Waller Sees Rate Cut Soon, Trump Holds Off On Iran Decision

Episode Date: June 20, 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 Jill Schneider

I'm Jill Schneider CNBC Wall Street opening higher on this Friday. The Dow up 123 points. The S and P 500 up 23. The Nasdaq higher by 111. Fed Governor Christopher Waller says inflation is tame enough that the central bank could cut rates as early as next month. That would be my view, whether the committee would go along with it or not. but I think we are in the position that the data's good, GDP growth is gonna be near target, our long run target in the first half of this year, unemployment's at our long run target, inflation's running very close to target, yet we're 125 to 150 basis points above where the median long run neutral policy rate is. So I think we've got room to bring it down and then we can kind of see what happens with inflation. If it got really bad and people got very nervous, you could just pause. But I think we're in a good spot right now for talking

about bringing the rate down. Waller's comments to CNBC come two days after the federal open market committee voted to hold its key interest rates steady, the fourth straight hold following the last cut in December. Investors are also monitoring conflict in the Middle East between Iran and Israel and potential direct U.S. involvement. Oil prices fell more than 3 percent as President Trump holds off, for now, on helping Israel to destroy OPEC member Iran's nuclear program. Trump said Thursday he'd make his decision on striking Iran within the next two weeks,

but wanted to provide space for potential negotiations to take place over the Islamic Republic's nuclear program. Global benchmark Brent dipped about 3.5 percent. U.S. crude oil was up more than 1 percent. Shares of CarMax jumped 10 percent in early trading after the company reported better than expected first quarter results. Specialty building products company GMS soared 26%. A bidding war has reportedly developed between QXO and Home Depot.

And shares of Darden Restaurants higher after the parent of Olive Garden's fourth quarter earnings beat on both the top and bottom line. Darden also authorized a $1 billion share repurchase program. Jill Schneider, CNBC. The club is really about empowerment. What I like about Jim is he makes it easy for someone like me to understand how to invest my money properly.

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