CNBC Business News Update - Market Open: Stocks Lower, Trump Threatens 35% Tariffs On Canada, Ford Recalls 850K Vehicles 7/11/25

Episode Date: July 11, 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 red as investors are rattled by President Trump's new threatened 35% tariff on an ally, Canada, that tariff set to take effect on August 1st. The Dow is down 288 points out of the gate, a half percent led lower by shares of Sherwin Williams and Nike, each down one and a half percent. The S&P 500 index down 35 points a half percent. The Nasdaq down 97 points a half percent. Nvidia shares are in the green this morning. They're up four tenths of one percent.

Bitcoin flying to new highs as institutional investors push money into Bitcoin exchange traded funds. Crypto prices, they are soaring beyond that record set yesterday. Fresh records on Bitcoin this morning. Look at that level, 118.450. Ether up 7%. It has had a great week this week. CNBC's Melissa Lee. Ford recalling more than 850,000 vehicles in the U.S. because of a potential fuel pump failure. This could cause an engine stall000 vehicles in the US because of a potential fuel pump failure. This could cause an engine stall while driving, increasing the risk of a crash. An enormous number of vehicles include Ford and Lincoln brand cars and trucks made in

recent model years, including Broncos, Explorers, F-150s, Aviators, and Navigators. Amazon's Prime Day sale ends tonight with Walmart, Target, Best Buy and others running their competing sales a little longer. For shoppers, it's actually Christmas in July because they wanna buy things before prices go up this fall because of the tariffs. This is inflationary hedging at its best.

Consumers are over buying, they're panic buying. The tariff extension was the greatest thing to ever happen to Prime Day because it's further consumer confusion. The consumer's saying, wait a minute, I thought it needed to be done by July 9th. Now it's going to be in August. And then what is it going to be in September? So what we're seeing very different this year than any other Prime Day or in this case, Prime few days is massive holiday purchasing. We are two seasons ahead. She's buying all our back to school goods. She's buying gift wrap on top of if you use Crest White Strips. Now you're buying three of them. So you're buying everyday goods this prime day and you're buying holiday season. United Nation consumer supplier CEO Brett Rose on CNBC. Parents are carefully shopping this year for back to school and fancier backpacks and other items may lose out according to this year's survey by Deloitte.

Tariffs are playing a hand in the details this year according to Deloitte. No, just over half of all the parents say they are concerned about higher prices this year for back-to-school items which is impacting how they will shop. So what will they do? Well seven in ten parents say that they are willing to wait longer for delivery if it costs and three quarters brand altogether if their too expensive. That's muc

that last year. Overall s to skew towards essential brands and retailers and out purchases over time. CNBC's Courtney Reagan. IMAX heading for its best year ever as more moviegoers want to see films on the big screens and Hollywood is starting to rebound. New in theaters tonight, Warner Brothers' Superman. It's 7-11 day on this July 11th. Free Slurpees at 7-11. Jessica Edinger, CNBC.