CNBC Business News Update - Market Open: Stocks Lower, Retail Sales Tank In May, Kraft Heinz To Remove Dyes From Big Food Brands 6/17/25

Episode Date: June 17, 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. Wall Street poised for a struggle this morning. President Trump left the G7 meeting early to deal with Israel and Iran. He signaled escalation in their conflict that downed down 158 points out of the gate, led lower by shares of Nike, which are down almost 2 percent. The S&P 500 index sitting at 6,009, it's down 23 points, that's three tenths of a percent. The NASDAQ is down 97 points, that's a half percent.

Nvidia shares are very ever so slightly in the green this morning. You got this odd week where we have all these expirations happening, you have a market closure on Thursday, and you have the Fed on Wednesday. So I think there's reason for the market to be apprehensive. That's CNBC's Mike Santoli.

Consumers really pulled back their spending last month after frontloading purchases back in March to get ahead of the Trump tariffs. Retail sales for the month of May coming in at minus, minus nine tenths of a percent, almost down one percent. This is much more aggressive to the downside than we were expecting. That's CNBC's Rick Santelli. Here's CNBC senior economics reporter Steve Leesman with more. You have this real strong action by consumers pulling forward purchases ahead of essentially the tariffs. They were trying to beat the tariffs. Now the Fed is in day one of a two day meeting on interest rates that retail sales miss not expected to change much of anything. The pull forward effect is probably showing up in the numbers, which means that the committee

is likely to just take this is one month's numbers, wait some more time. And I doubt we're going to see coming out of it in the statement or in palace press conference, any major change in messaging. That's former Atlanta Fed President Dennis Lockhart on CNBC. Silver at its highest price in more than 13 years today, $37.33 an ounce. Silver's very different from gold, which is mostly a store of value. Silver is used in all types of manufacturing.

It's a great conductor of electricity. Silver's in your smartphone, your electric car, and your laptop, among many more things. JetBlue will cut more flights and other costs on weaker travel demand. It also says it's likely to lose money this year, calling break-even unlikely. The Amazon Prime Day sale in July will be four days this year. A 96-hour event that starts at 3 a.m. Eastern on Tuesday, July 8, and runs through Friday

the 11th. Amazon will roll out themed deal drops the change every day and will end when stock runs out. Kraft Heinz says it'll remove artificial dyes from its US products by the end of 2027. Brands like Crystal Light, Kool-Aid and Jell-O. The at-home home goods chain has filed for bankruptcy protection.

Retail Dive says it's blaming the Trump tariffs and a slowdown in consumer spending. Breyer's recalling packages of chocolate truffle ice cream that mistakenly contain rocky road ice cream with nuts. The top of the container does say rocky road. Taco Bell's new limited time crispy chicken tacos and burritos are new on menus today. Jessica Edinger, CNBC.