CNBC Daily Open: Headwinds don't seem to bother the U.S. stock market
Jun 11, 2025 - cnbc.com
On June 10, 2025, the U.S. stock market showed optimism with the S&P 500 and Nasdaq Composite marking their third consecutive day of gains, despite economic concerns such as U.S. President Donald Trump's tariffs and ongoing layoffs in major corporations like Google and Paramount. The U.S. and China reached a preliminary trade agreement, potentially easing tech sales restrictions and rare-earth exports. Meanwhile, Elon Musk announced Tesla's tentative launch of a robotaxi service in Austin, Texas, boosting Tesla shares, although Wells Fargo analysts predict a significant drop in Tesla's stock due to weak sales.
In other developments, the bond market is under scrutiny with upcoming U.S. inflation data and Treasury auctions, which could impact the Federal Reserve's interest rate policy. Meta plans a $14 billion investment in Scale AI to enhance its AI capabilities, while Google offers buyouts to reduce headcount. In China, the adoption of AI threatens jobs amid slowing economic growth, with companies like 360 Security Technology considering replacing jobs with AI to cut costs.
Key takeaways:
The U.S. and China have reached a preliminary trade agreement, pending approval from both countries' leaders.
The S&P 500 and Nasdaq Composite have both experienced a three-day winning streak, with optimism surrounding U.S.-China trade talks.
Elon Musk announced Tesla's robotaxi service is set to launch in Austin, Texas, on June 22, boosting Tesla shares by 5.7%.
Meta plans to invest $14 billion in Scale AI to enhance its artificial intelligence capabilities, as reported by sources familiar with the matter.
