CNBC Business News Update - Market Close: Record Highs For Dow And S&P 500, Eli Lilly Gains On Successful Weight Loss Drug Trial, Cruise Stocks Sail To Gains 12-11-2025

Episode Date: December 11, 2025

The latest in business, financial, and markets news and how it impacts your money, reported by CNBC's Peter Schacknow Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

I'm Peter Shack now, CNBC. It was a record-breaking day for Wall Street as the stock market followed up on Wednesday's Fed-fueled rally with more gains. The Dow surged 646 points to close at 48,704. The S&P 500 added 14 points or 2 tenths of a percent. The NASDAQ was the only one of the major averages that did not join the party. It fell a quarter percent or 60 points, but finished well off session lows. Both the Dow and S&P closed at record highs. as did the Small Cap Russell 2000.

Former Fed Vice Chairman Richard Clarita says in the aftermath of yesterday's Fed action and policy statement, people are generally feeling upbeat about the U.S. economy. So really, it's supporting the strongest growth you can that's not inflationary. And indeed, you know, we have actually seen stronger productivity. You know, one way to think of sort of the GDP numbers as they're running above trend. But employment growth has measured as slowing. So the difference is stronger productivity growth, even before potentially an AI story. who he kicks in. Among stocks on the move today, Eli Lilly was up about 1.6%. A late-stage trial

showed successful results for Lilly's next generation weight loss drug. Cruise stocks had a good day after analysts at Bernstein upgraded Royal Caribbean stock, pointing to improve pricing. Royal Caribbean rallied 7.5% while rival Carnival was up 6% and Norwegian added 7%. Home prices were down 1.4% over the past three months compared to a year ago. The first time that's happened since mid-20203. That's according to real estate tracking firm parcel labs. Results varied, of course, according to City. Austin, Texas, and Denver saw more significant drops,

while prices gained in markets like New York, Cleveland, and Chicago. Peter Shack now, CNBC. CNBC, live ambitiously.