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Closing Bell

Closing Bell Overtime: Bitcoin's Boom, JPMorgan Takes Aim At FinTechs 7/11/25

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 11 July 2025

⏱️ 43 minutes

🧾️ Download transcript

Summary

From the open to the close, “Closing Bell” and “Closing Bell: Overtime” have you covered. From what’s driving market moves to how investors are reacting, Scott Wapner, Jon Fortt, Morgan Brennan and Michael Santoli guide listeners through each trading session and bring to you some of the biggest names in business.

Transcript

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0:00.0

Well, that's hand of regulation. On your screen, you'll see that familiar face. Jim Kramer and the

0:07.3

investing club ringing the closing bell here at the New York Stock Exchange. It is the club's

0:13.8

third annual meeting over at the NASDAQ, Yield Max ETS, doing the honors there. Well,

0:19.8

stocks ending the day lower. following two days of record highs

0:22.6

for the NASDAQ and the S&P. The Dow was the worst performer as Visa and Salesforce weighed on the

0:27.4

Blue Chip index for the week. The Dow ending down about 1%. S&P lower by about a quarter of a percent.

0:33.3

The NASDAQ finishing basically flat. The Russell 2000 breaking a three-week win streak.

0:37.2

Your leaders today, consumer discretionary and energy, health care and financials are the

0:41.2

S&P sector laggards. Treasure yields, perhaps not surprisingly, moving higher today following the

0:46.8

announcement of 35% tariffs on Canada. Big moves in the commodity complex as well. Crude, silver,

0:53.3

gold, all closing higher. We're going to have more on that straight ahead. Well, that is the scorecard on Wall Street, but winner stay late. Welcome to closing bell overtime. I'm John Fort alongside Morgan Brennan. Coming up on overtime, a big week for big tech, the NASDAQ setting new records. InVIDIA topping $4 trillion in market cap. We'll discuss it all with low Tony of Plexo Capital.

1:11.4

Plus, Ceramico Resources will build a mine in Wyoming to extract rare earth minerals.

1:16.8

This is the first new rare earth mine in the U.S. in more than 70 years.

1:20.5

We're going to talk to the CEO about the growing importance of those critical minerals.

1:24.6

And it's a bird, it's a plane, it's Superman coming to theaters this weekend. The box office rebounding. IMAX is now heading for its best year ever. The CEO joins us exclusively ahead. Well, let's start with some of the individual names that are making moves today as stocks close lower. Christina Parts Nvelas is at the NASDAQ and she she's breaking it down for us. Hi, Christina. Hi, Morgan. Let's talk with software stocks because they have been under pressure this week, and the reasons are just piling up. The IGV ETF is down about 3%. And to pick your reason. You got Piper downgrading Workday, new CIO surveys, specifically one from Morgan Stanley that point to weaker IT spending.

2:01.6

And this, according to Jeffries, Broadcom CEO Hocktan warned that AI could erode long-term software value,

2:07.6

saying Broadcom won't pursue more software deals right now.

2:11.6

You're seeing Paulo Alto, data dug down 11.5%, Salesforce down 5%.

2:16.6

These are just examples, a C of red within that sector.

2:19.4

Let's switch over to fintech stocks because those also took a hit late in the day today after a Bloomberg report said JPMorgan plans to charge fintech firms like Venmo, Coinbase, Robin Hood for access to their customer bank data, something they've mostly gotten for free up until possibly now.

2:35.6

And that's why you're seeing shares of PayPal, for example, down almost 6% today.

2:39.0

CoreWeave, another big name dropping 9% after you pick it.

...

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