CNBC Business News Update - Market Open: Stocks Open Higher, Investors Cheer Tariff Exemptions, Lilly Stock Under Pressure

Episode Date: August 7, 2025

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 Jill Schneider.

I'm Jill Schneider, CNBC. Stocks have opened higher on this Thursday, led by tech, as President Trump unveiled new chip tariffs that include broad exemptions. The Dow up 275 points, the S&P 500, up by 38, and the NASDAQ, jumping 175. Trump announced late Wednesday there would be a 100% tariff on imported chips, but not for companies that build in the United States. InVIDIA shares up more than a percent in early trading, advanced. micro devices up more than 2%. Eli Lilly shares under pressure, even though the company beat estimates for the second quarter and raised full year guidance. The stock is under pressure after trial results from its oral weight loss drug disappointed investors. Lily Chairman and CEO

David Ricks says the company is pleased with the results. We're not disappointed with these results. It's right on thesis for us. Remember at the beginning here, you know, when we started working on this project and when we talked about it, the goal was to create an oral pill that was convenient and can be made at huge scale, really for the mass market, and had weight loss that was competitive with other single-acting GLP-1s. And that's what we've achieved. Remember, the first study in diabetes, probably the weight loss is a little higher than people expected here.

Maybe it's one or two points below what street had, but it's right in thesis for us. Shares of Peloton up 10% in early trading, the maker of exercise equipment, beat Wall Street estimates for the second quarter. Shares of Warner Brothers' discovery rose in early trading. the company beat revenue estimates for the second quarter. The company added 3.4 million streaming subscribers during the period and said it saw studio revenue growth of 55% year over year. Jill Schneider, CNBC.

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