CNBC Business News Update - Market Close: Record High Closes For The S&P 500 Index And The Nasdaq, The Dow Rallied 400 Points, Bullish Shares Soar In IPO 8/13/25

Episode Date: August 13, 2025

From Wall Street to Main Street, the latest on 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 Jessica Ettinger.

I'm Jessica Eddinger, CNBC. Wall Street opens Thursday morning after another record setting day for stocks with the S&P 500 index in the NASDAQ. Each closing Wednesday at fresh record highs, the Dow rallying 400 points for a second straight day. Let's start with the Dow on Wednesday, up 463 points, 1% led higher by shares of United Health, which were up almost 4%. The S&P 500 index added 20 points. the NASDAQ up 31 points. NVIDIA shares were in the red down 8 tenths of 1%. Companies who shares hit fresh all-time highs on Wednesday include electronic arts, live concert and event company Live Nation, Facebook parent meta, eBay, coach parent tapestry,

Black Rock, Goldman Sachs, Morgan Stanley, and Broadcom. The markets are doing anything to necessarily disturb this very kind of benign view of this uptrend and we're extending the highs. CNBC's Mike Sandley. Entoli. Crypto Exchange bullish more than doubled in its debut on the New York Stock Exchange Wednesday. The IPO priced

above its expected range. It opened at about $37, topped 91 during trading and closed at $68 a share. With inflation climbing, new estimates for the Social Security cost of living increase for next year are out. It stands at

2.7%. And it'll go higher if inflation keeps going higher. Nothing's final yet. About one in five Americans collects social security. The increase for this year was just two and a half percent. Isn't the future insolvency? Like, isn't that the hard truth about social security? Well, you know, we will always face a curve and there will always be a solution, right? I mean, if you hear what people will forecast, it's 83% in 33. We're in 25. There's lots of time to fix this. The Inspector General found 17 billion in improper payments. We already reduced

half of that. So proper payments matter. I expect when we get to the latter half of the year and into next year, we'll be talking about what to do about solvency. Social Security Commissioner Frank Bisignano on CNBC. Kava, Chipotle, and other fast casual restaurant chains have been getting slammed by a consumer slowdown. It was a tough quarter for Kava. Sweet Green cut its guidance as consumers pulled back from its salads and bowls. Shake Shack and Chipotle. Same store sales misses this quarter.

The Kava's, the Chipotle's, the sweet greens, those are a little bit pricier for an entree compared to a fast food experience. So if you're a diner, right, and you're looking at eating at home or going out to eat, where do you want to spend your money and what type of an experience do you want to have? And as mentioned, it really seems like it's a company-by-company basis. but Brinker, right? We talked about Chili's. They had nearly 40% same store sales comps on a three-year basis, which is just an unheard of number. So that's an example of something that's doing really well across the past few years, right? Because consumers think it's worth it. And that turnaround has really worked. CNBC's Kate Rogers. GE appliances, not an American company owned by the Chinese company hire, will invest in its U.S. operations and workforce to build more air conditioning and water heater equipment in the U.S.

It plans to create 1,000 jobs in five states. On Thursday's watch list, earnings are coming from tractor maker, deer, Coach Parent Tapestry, applied materials, and advanced auto parts. We find out how many people applied for unemployment benefits last week. A hearing is scheduled in the Jimmy Buffett estate case, and the Madden 26 video game will be out. Jessica Eddinger, CNBC. CNBC is the network for ambitious people.