CNBC Business News Update - Market Close: Stocks Close At Record Highs After Tamer Inflation, Oil Breaks 3-Week Losing Streak And Could Go Higher, IBM Gets Boost From Quantum Computing Prospects 10-24-2025

Episode Date: October 24, 2025

The latest in business, financial, and market 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. Wall Street's major averages closed at record highs following a consumer price index report that proved encouraging to economists and investors. The Dow jumped 473 points to close at 47,207. The S&P 500 was up 8 tenths of a percent or 53 points. The NASDAQ rallied 263 points or 1.2%. The Dow had its best week since the week ending July 3rd, the S&P 500 and NASDAQ since the week ending.

August 8th. That came after the government reported that September consumer prices rose a less than expected three-tenths of a percent. Crude oil also had a bullish week, up about four and a half percent to break a three-week losing streak. That follows the announcement of sanctions against Russian oil companies. And if they actually happen, the impact could be far greater, according to Emerita Sen, co-founder of oil industry analytics firm Energy Aspects. It just shows you that the market is actually still quite skeptical of whether this is going to go through or not. We've talked about and we've heard about sanctions for years. They've not been enforced in the same way. But we do think this is meaningful.

It's just a question of whether the U.S. is going to enforce it. And that's why, yes, we've seen a jump, but the jump doesn't actually reflect what theoretically could be lost in the market. Ford led the S&P 500 with a more than 12 percent gain, thanks to lower than expected impact from tariffs in its latest quarterly report and strong demand for SUVs and pickup. trucks. IBM was the biggest percentage gainer in the Dow up nearly 8% after it said its quantum computing project can function with existing chips made by advanced micro devices. Peter Shack now, CNBC. Start streaming. Go to CNBC.com slash plus.