CNBC Business News Update Market Open: Stocks Mixed, Paramount Cuts Jobs, Crude Oil Highest In 2 1/2 Months 6/10/25
Jun 10, 2025
Dive into the latest market fluctuations as major stock indices react to ongoing U.S.-China trade discussions. Discover the implications of workforce reductions at Paramount and rising precious metal prices. Plus, explore the notable increase in crude oil prices and the gold to silver ratio. Updates on J.M. Smucker, Casey's General Store, and the cruise industry keep the corporate insights fresh, while McDonald's new menu items add a tasty twist to business news.
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Trade Talks Reveal Supply Risks
- U.S.-China trade talks focus on AI chips and rare earth materials crucial for tech and manufacturing.
- U.S. weakness in rare earth supply risks losing technological edge to China.
Paramount's Workforce Cuts
- Paramount is cutting 3% of its workforce amid a pending merger with Skydance Media.
- Regulatory approval from the Trump administration is still awaited for the merger.
Precious Metals Tight Market
- Silver and platinum prices are rising, with platinum up more than gold year to date.
- The precious metals market is tight, indicating ongoing deficits especially in silver.