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Closing Bell

Closing Bell Overtime: Warner Music Group CEO On Future of Music and Streaming; Firefly Soars in IPO Big Shifts 8/7/25

Closing Bell

CNBC

Business, News

4.8118 Ratings

🗓️ 7 August 2025

⏱️ 43 minutes

🧾️ Download transcript

Summary

Kevin Gordon of Charles Schwab and Victoria Greene of G Squared weigh in on the broader market picture, while earnings roll in from Block, Expedia, Dropbox, Pinterest, and more. Mizuho’s Dan Dolev joins to break down the fintech landscape post-Block results, and Warner Music CEO Rob Kyncl joins to talk earnings and the bigger picture for the music industry. Plus: the Firefly IPO, the Lilly-Novo rivalry, and a White House push on private assets in retirement plans.

Transcript

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0:00.0

Well, that's the end of regulation. The Museum of the City of New York, bringing the closing belt, the New York Stock Exchange.

0:04.7

Limonatus Farma doing the honors at the NASDAQ. An early rally in stocks faded in the afternoon following a move higher in yields, and the president's global tariffs kicking in. The NASDAQ ending higher as Apple's move higher continued. Sales Force and Caterpillar are both weighing on the Dow today. Utilities and consumer staples, those were your S&P sector leaders,

0:22.6

healthcare and financials were the laggards.

0:24.6

Yields on the move, with the 30-year spiking midday on the back of a week auction.

0:29.6

Gold moving higher today, hitting the highest level since June 16th

0:34.6

and heading back near the all-time highs that it hit back in April.

0:38.3

The Goldmiter's ETF is now in pace for its best week since April 11th.

0:42.3

Well, staying on commodities.

0:44.2

We had a bullish day for silver as it hits a two-week high.

0:47.3

Silver's on pace for a nearly 5% gain this week.

0:50.4

And three consumer names warning about tariffs in their latest earnings report,

0:59.9

Elf, saying they have raised prices on products since 75% of their producers are made in China.

1:09.6

Crocs will take a $40 million hit from tariffs in the second half, and Ralph Lauren noting that it was cautious about the second half due to inflationary pressure from tariffs.

1:29.5

Well, that is the scorecard on Wall Street. But welcome the closing bell overtime. I'm Morgan Brennan. John Ford is off today. We've got another busy hour of earnings coming up. Block, Expedia, Flutter, Pinterest, all due out in the next few minutes. We're going to bring you those results as soon as they hit. And Warner Music Group, Rising, following its results that were out this morning. The company CEO will join us to discuss those earnings and the music industry. This is a

1:35.0

CNBC exclusive first time he's joining us since taking over as CEO. As I mentioned, stocks giving

1:42.1

up early gains, closing lower. On the NASDAQ in particular, we saw a tug of war between chip stocks and the software names. Christina Parts and Nevelas is looking at those two groups for us today. Hi, Christina. Hi. Well, Apple did have its biggest point impact on the NASDAQ, so it barely just closed higher. But Apple, we said that we know announcing a massive $100 billion U billion U.S. investment, investors betting, this commitment helps shield the company from tariff threats.

2:05.7

The tariff protection theme really extending to chip stocks. Arista networks, for example,

2:10.1

touched an all-time high today, AMD closed almost 6% higher, LAM research, applied materials,

2:15.7

micro on KLA, all gaining at least one, two percent

2:19.8

on your screen. Markets really are pricing in safety for companies with U.S. manufacturing

2:23.8

commitments despite the looming 100 percent tariff threat from President Trump. But when chips rise,

2:30.9

software falls. The constant sector rotation hit hard today. The IGB software ATF dropped

...

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