CNBC Business News Update - Market Open: Stocks Mixed, Trump Says China Deal Is Done, Inflation Ticks Up But Less Than Expected 6/11/25

Episode Date: June 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 has turned fully higher this morning. Inflation did take higher in May, but the pop was not as hot as expected. Bond yields were falling. Major averages all in the green. Now the Dow up 57 points being led higher by shares of Goldman Sachs up more than 1 percent. The S&P 500 index up 9, the Nasdaq up 46, Nvidia shares slightly in the green right now. President Trump posting that a deal is done with China. CNBC's Eamon Javers has more. The talk's not over. We saw a post from the president on social media earlier this morning in which the president suggested that a deal of some kind has been

crafted that has to go to the two leaders now, Xi Jinping and himself, in order to be ironed out. And the president suggested that there were some mining agreements, some magnets agreements, rare earths, and also an exchange for allowing Chinese students to stay at American universities, something the president said he's never been opposed to all along. Consumer prices rose less than expected in May, as President Donald Trump's tariffs

have yet to show a significant impact on inflation. The consumer price index ticked up a tenth of a percent, putting the annual inflation rate at 2.4%. On the headline number, expected up two tens comes in on the light side up one tenth of a percent. But as the year over year numbers do tell us, we're still a little bit on the high side. That's CNBC's Rick Santelli. Here's CNBC's Mike Santoli. There's no way to look at these numbers and say they're not welcome news. I mean, a downside

surprise to core core goods is where people were looking for potentially tariff effects. You're not quite getting that now, even though inflation ticked higher overall, it ticked lower for a number of things that are important to Americans. New vehicles fell, used vehicles fell, importantly apparel, which is a big imported item down 0.4% owners equivalent rent. That's the housing unit up 0.3%, that's pretty good. Motor vehicle insurance up 0.7%. Airlines down, interestingly enough. And the most important product of all, of course, eggs, down 2.7%.

And CNBC Senior Economics reporter Steve Leesman also says... I expect tariff prices to come. You cannot collect year to date $70 billion in tariff revenue and not have prices go up. That is going to happen. Tesla CEO Elon Musk now posting he regrets some of the social media posts he made about President Trump.

Musk and Trump had engaged in an explosive public feud over social media. Google with job cuts. The company is offering buyouts to employees across the company, including its coveted search division. I'm Jessica Ettinger, CNBC. The club is really about empowerment. What I like about Jim is he makes it easy for someone like me to understand how to invest

my money properly. Boo-yah Jim! Get invested! Join the club today. Go to cnbc.com slash join Jim.