CNBC Business News Update - Market Open: Stocks Mixed, Amazon Will Show Tariff Cost To Consumers And Trump Blasts The Company, White House Shifts To Tax Cut Talk 4/29/25

Episode Date: April 29, 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 now all in the green. The Dow up 187 points this morning about a half a percent. It's being led higher by shares of Sherwin Williams, which are up 4.5% the S and P 500 index up 10 points. The NASDAQ is now up 37 points with Nvidia turning around. It's up a half percent now. Time is running out to see a lessening of the tariffs on China. And I think it's a little bit like it was in COVID in the sense that we're all looking for some high-frequency data to get that understanding ahead of the numbers, knowing that there's a lag. JPMorgan's Gabriella Santos on CNBC.

Amazon reportedly will show shoppers the separate cost of the Trump tariffs on the screen next to the overall cost of an item. Amazon saying that you're actually now get to see what the cost of those tariffs are literally on the screen compared to what the list price is. I would anticipate a lot of places. Right, not us.

Not us. Not us. Not us. We're not raising prices, we're just passing on the tariffs that you're expecting to pay on these things. CNBC Squawk Box anchors there. Becky Quick, Joe Kernan, and Andrew Ross Sorkin. Here are CNBC's David Faber and Mad Money host, Jim Cramer.

By the way, I've also heard the likes of Walmart as well. This idea of making it clear to the consumer what the increased cost of a good is as a result of the addition what the increased cost of a good is as a result of the addition of the tariff. One would imagine the president not particularly excited about that idea of having that separated out. And this is what Carolyn Levitt, the spokesperson at the White House, had to say about at least those reports of Amazon doing that.

I will not speak to the president's relationships with Jeff Bezos, but I will tell you that this is certainly a hostile and political action by Amazon. Lawmakers in Washington are trying to shift the focus away from tariffs and toward tax cuts for working Americans. The Treasury secretary spoke this morning. adding the things for working Americans that I talked about earlier, no tax on tips, no tax on overtime, no tax on social security, making auto payments deductible. So that will substantially address the affordability crisis. Treasury Secretary Scott Besant. General Motors out with quarterly results that beat estimates, but it's reassessing its full-year outlook because of auto tariffs, calling it unreliable. Until the company has more clarity on the economic environment, GM is also suspending its stock buybacks. Meantime, President Trump is set to offer some tariff relief to U.S. automakers. Reportedly, he has a planned 100th day in office

rally tonight. The president marking his 100th day in office with a rally in Michigan where his sweeping tariffs are hitting the auto industry hard. And as the White House aims to push back against recent polling that shows Americans largely unhappy with the president's handling of trade and tariffs, Trump officials say the president is planning to reduce some fees on foreign auto parts for cars that are assembled in the U.S. while keeping tariffs on imported vehicles. Just 39% of Americans approve of President Trump's tariff policies according to a new NBC News stay tuned poll. NBC's Alice Barr. Coca-Cola with strong quarterly results. It says

tariffs won't affect the company much, but they will impact bottlers and retailers, and ultimately the consumer. UPS is cutting 20,000 jobs, calling the economy uncertain as it forecasts weak volumes from its largest customer, which is Amazon. Jessica Edinger, CNBC. CNBC Plus, the new streaming platform

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