CNBC Business News Update - Market Open: Stocks Higher, Wholesale Inflation Unchanged For June, Mortgage Demand Lowest In 2 1/2 Years 7/16/25

Episode Date: July 16, 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 higher out of the gate this morning after tame wholesale inflation and some solid earnings reports from more banks today. The Dow is up 208 points, almost a half percent being led higher by shares of Johnson & Johnson, up four and a half percent this morning. The S&P 500 index up 14 points. The NASDAQ is up 17 points. Nvidia shares up a quarter percent this morning. Inflation at the wholesale level, the producer price index came in unchanged after a hot measure of inflation for consumers

for June, the highest since February. PPI comes in unchanged, unchanged. We're expecting up two tenths. Unchanged would be the smallest inflationary wholesale increase in it since March of this year. However, if you look at revisions, that changes things. The revisions are coming through on a month over month data. So last month we had up on all three metrics. Those have all moved higher.

CNBC's Rick Santelli and for last month. Here's a perspectives. President J It means that the year on tick higher. So I wouldn' a five alarm fire on infl tariff pass through on th what we're seeing on the services side is evidence of weak demand in particular travel prices have been a huge weak

spot this year as demand falls from foreign visitors as well as domestic travel is just is just weak consumers are just cautious. This afternoon investors will come through the beige book on current economic conditions for a gauge of the U.S. economy. The yield on the 10-year Treasury hit its highest since June 11th as it sits just below 4.5%. You can see mortgage rates tick higher today. Mortgage rates loosely follow the 10-year.

The average rate on a 30-year fixed home loan today is 6.85%, according to Mortgage News Daily. If it goes up, it'll go up later this afternoon. Meantime, applications to buy a home tanked last week, down more than 11% for the biggest weekly decline in two and a half years since the end of December 2022 as the housing market slows to a crawl. Bank of America put up some mixed quarterly results as net interest income missed analysts' expectations. But chipmaker giant ASML smashed expectations

for its second quarter net bookings and it's out with strong quarterly results. 401k investors could add private market investments to their savings? The Wall Street Journal and FT are reporting President Trump's expected to sign a new executive order in the coming days allowing 401k providers in the US to gain more exposure to private market investments. The order, once official, could pave the way for names like Apollo, State Street, KKR, and Blackstone

to access the more than $12 trillion in assets held by 401k accounts as of 2024. The move coming as these private equity giants appear to be hitting a wall for their existing investments forcing many to turn to areas like private credit as a way to generate big returns. JP Morgan Chase CEO Jamie Dimon just earlier this week calling that move a recipe for a financial crisis while at the same time committing $50 billion to fund his bank's push into the sector. CNBC's Frank Holland. IMAX tickets for the film The Odyssey will go on sale tomorrow, a full year before Christopher Nolan's epic opens in theaters.

It's a first for the movie industry. Tickets will only be available at movie theaters with IMAX screens. Other format tickets will go on sale closer to release next summer. Mattel says there will be no uno tables on the casino floor after reports about an uno social club at the Palms Casino Resort in Las Vegas. The toy company says Las Vegas isn't ready for us like that yet. Today is national hot dog day deals and discounts at various restaurants around the U S Jessica Ettinger CNBC. Breaking earnings news this week on CNBC and streaming on CNBC

Plus.