CNBC Business News Update - Market Open: Stocks Mixed As Q3 Begins, Tesla Shares Dip, JM Smucker Raising Coffee Prices 7/1/25

Episode Date: July 1, 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. Out of the gate on this first day of July trading, we have mixed markets. It's also the first day of the third quarter and the start of the second half of the year. The S&P 500 index and the NASDAQ falling from record highs. You've got the Dow up a point. Nike shares up almost 2% this morning, helping that. The S&P 500 index down 13, the Nasdaq down 82 points, Nvidia shares are down 1% this morning.

The biggest worry right now is around uncertainty, which breeds volatility and complexity, whether it be the situation in Washington, the trade policy discussions, businesses and investors just want some clarity. Regents welts Alex McKnight on CNBC. Tesla shares sliding after President Trump said Doge should look at the government subsidies Elon Musk's companies enjoy.

Amazon on the cusp of using more robots than humans in its warehouses, according to The Wall Street Journal, and Amazon CEO Andy Jassy told CNBC, the company's cutting some jobs, but AI means creating other jobs. Like with every technical transformation, there will be fewer people doing some of the jobs that the technology actually starts to automate. But there are gonna be other jobs.

We're gonna hire more people in AI and more people in robotics, and there are gonna be other jobs that the technology wants you to go hire that we'll hire over time too. Meantime online shopping is having its biggest slowdown in more than 10 years as the Trump tariffs disrupt e-commerce. Alex partners says most major product categories are experiencing significant declines in consumer buying online. significant declines in consumer buying online. JM Smucker raising coffee prices, but it's not specific on whether it's one or two or

all of its brands that will be impacted. Smucker sells Folgers, Dunkin, and Cafe Bustello in grocery stores. Food Dive says the company is passing the Trump tariffs along to consumers. Coffee is JM Smucker's biggest tariff-impacted import. Netflix adding NASA Plus to the streaming service. NASA's live launch and space programming includes astronaut spacewalks, mission coverage, and live views of Earth from the International Space Station. McDonald's debuts Lil McDonald's toys and Happy Meals, today mini replicas of classic and throwback McDonald's products and features.

President Trump announced his fragrance collection, Perfume for Women at $200 a bottle and Cologne for Men at $250. The Victory Cologne for Christmas Delivery is already sold out on the website. AT&T pushing back on President Trump for complaining about a problem it says it had nothing to do with. AT&T is refuting President Trump's claim it is to blame for issues he faced in hosting a conference call yesterday. Now Trump taking to Truth Social to raise the issue also urging the boss of AT&T to handle the situation without offering more specifics. Now the company

posting on X its initial analysis showed the problem was caused by the conference call platform used. CNBC's Silvana Hannau. It's no by July, a social media trend to get people to rein in their spending and pay off debt at this halfway point in the year. It's Canada Day, a holiday for our neighbors to the north. The Toronto Stock Exchange is closed. Jessica Erringer, CNBC. CNBC is the network for

ambitious people.