CNBC Business News Update - Market Close: Record Highs For S&P 500 & Nasdaq, Comerica Shares Surge On Buyout Deal, AMD Soars 24% After Striking Deal With OpenAI

Episode Date: October 6, 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. Stocks ended the day with a mostly higher session, with the ongoing government shutdown not doing much to dampen investor spirits. The Dow fell 63 points to close at 46,695, but the S&P 500 rose 24 points of 4 tenths of a percent, and the NASDAQ added 7 tenths of a percent or 161 points. The S&P 500 closed at another record high and posted its seventh straight winning session. That's its longest win streak since last April. The NASDAQ also closed at a record high. Shares of Regional Bank Comerica surged nearly 14%. It's agreed to be bought by Fifth Third in an all-stock deal worth $10.9 billion. Timothy Spence is CEO of Fifth Third.

What's defined Comerica is this is an incredible middle market commercial banking platform and the access that Comerica had to high-growth markets like Texas and large economies like California, to its legacy presence in Michigan. So the combination of those two things is going to be really powerful. Fifth Third shares fell 1.4% following announcement of the deal. Advanced Micro Devices was the day's biggest S&P winner, soaring almost 24% after it struck a deal to supply chat GPT-parent OpenAI with artificial intelligence chips.

Verizon was the biggest S&P loser, falling more than 5% after announcing that CEO Hans Vestberg would step down immediately, and be replaced by former PayPal CEO Dan Shulman. Holiday season sales are expected to grow at a slower pace this year, according to Adobe Analytics. It's projecting a 5.3% rise compared to last year's 8.7% jump, saying economic uncertainty is pressuring consumer spending.

Peter Shack now, CNBC. Celebrating 30 years of Squatbox and streaming on CNBC Plus.