CNBC Business News Update - Market Open: Stocks Mixed, The S&P 500 Index And Nasdaq Hit Fresh Intraday Record Highs, Commerce Secretary Tells CNBC The EU Wants A Trade Deal 7/24/25

Episode Date: July 24, 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 mixed. The S&P 500 index opened at a record high this morning. The NASDAQ is on pace to set a new record high. The Dow is in the red down 275 points giving back yesterday's gains. IBM shares leading at lower. They're down 7% this morning. The S&P 500 index up 8 points. The Nasdaq is up 59 points, a third of a percent in video shares

helping. They're up 1.3% this morning. Investors want to see a trade deal with the EU as President Trump's tariff deadline is a week from tomorrow. You've got a huge trade deficit. I mean $235 billion trade deficit, which means they sell us more stuff than we sell them. And so the president said it's 30% if you don't get a deal done. So you know how badly they want to make a deal. That's Commerce Secretary Howard Lutnick on CNBC. Two big tech names to watch today. Tesla shares are down after missing on both the top

and the bottom lines, a 16% decline in auto revenue. On the flip side, Alphabet shares rallying on their earnings beat company, raising the CapEx forecast to $85 billion. Yeah, the cloud was important. I think the big focus is frankly, pay clicks were picked up 4% I mean, I was thinking pay clips might be down

I was worried that I felt that this was the beginning of the erosion and the cannibalization versus Gemini That was completely wrong YouTube up 200 million really really fantastic CNBC mad money host Jim Cramer with CNBC's Carl Quintanilla fantastic. CNBC Mad Money host Jim Kramer with CNBC's Carl Quintanilla. The number of people who applied for unemployment benefits last week fell for a sixth straight week as unemployment remains at an historically low level. 217,000 people applied last week. That's lower than the pre-pandemic weekly average of 225,000. Companies that have announced job cuts this year include Amazon, Procter & Gamble,

Dow, CNN, Starbucks, Southwest Airlines, Microsoft, Google, and Facebook parent Meta. But it hasn't been overwhelming. Investors are talking about the meme stock craze again, just like 2021. This time GoPro surging, Krispy Kreme shares involved. Struggling retailer Coles has also seen its shares in the meme mix. They're starting to see meme stock action. That's typically a sign of a frothy market. And also where do you go from here?

If you haven't been part of this tide, you know, do you invest now? I think it's really a tough time to put new cash to work. That's BD8 Capital's Barbara Duran on CNBC. Watch United Health shares today. It says it's facing a Department of Justice investigation over Medicare billing practices.

Apple turning its AppleCare into a subscription service with a monthly fee to protect devices. For 20 bucks a month, the new AppleCare One service will protect a consumer's three devices. McDonald's sees more profit in the drink category. The Wall Street Journal saying it's testing dirty sodas and flavored cold brews. Dirty sodas have add-ins like flavored syrups and dried fruit. The tests will begin in September.

Jessica Edinger, CNBC. Breaking earnings news this week on CNBC and streaming on CNBC plus.