CNBC Business News Update - Market Close: Stocks End Best Day In 4 Months, Gold Over $3000 For The First Time, Coffee Industry Wants Tariff Exemptions

Episode Date: March 14, 2025

The latest in business, financial, and market news and how it impacts your money, reported by CNBC's Peter Schacknow

I'm Peter Schack, now CNBC. Yet another negative week for the stock market has come to a close, but the Friday session is leaving room for hope. The market ended the week with a strong rally, with the major averages chalking up their best one-day gains in more than four months. The Dow gained 675 points to close at 41,488. The S&P 500 surged 2.1 percent or 117 points. The Nasdaq rallied 451 points or 2.6 percent. All that despite worries about the

possibility of recession as well as uncertainty over tariffs and White House economic policies. Jim Paulson is chief investment officer at Luthorl Group. I think what we're starting to see is economic momentum is lessening and as a result, recession fears spike and that runs right through the stock market. I don't think we're going to have recession, but I think we're going to have recession scare and that's going to be enough here to keep bringing a little turmoil for a period. I think the worst is already over, but I'm not sure the whole correction is yet over. It might take a little bit longer. The rally came despite a University of Michigan consumer sentiment reading

that was the lowest since November 2022. In that survey, the tariff battles got the bulk of the blame for the decline. Despite Friday's stock gains, those economic concerns helped push gold over the $3,000 an ounce mark for the first time ever, as investors sought to put at least part of their portfolios in a safe haven investment. The National Coffee Association, an industry trade group, is asking the Trump administration to exempt coffee from any tariffs, saying the imposition of additional duties on Canada and Mexico could increase coffee prices by up to 50 percent.

Peter Schacht now, CNBC. Get tomorrow's big stock stories delivered to your inbox tonight prices by up to 50%. Peter Schacht now CNBC.