CNBC Business News Update - Market Close: Stocks End Sharply Higher, Indexes Post Records, Trump Pauses Some Tariffs 4/9/25

Episode Date: April 9, 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 Jill Schneider.

I'm Jill Schneider, CNBC. Huge gains on Wall Street today after President Trump announced a 90-day pause on some of his reciprocal tariffs, but also hit harder at China, boosting tariffs on Chinese imports to 125 percent. Trump says numerous countries are now eager to make trade deals with the U.S. They're all calling, how do we do this? They all want to make a deal. Somebody had to do what we did.

And I did a 90-day pause for the people that didn't retaliate because they told them, if you retaliate, we're going to double it. And that's what I did with China because they did retaliate. So we'll see how it all works out. I think it's going to work out amazing. I think that our country is going to be at the end of a year or shorter. But I think we're going to have something that nobody would have dreamt possible markets skyrocketed

on the presidential pivot. The Dow added 2962 points, nearly 8% its biggest one day gain since 2020 the S&P 500 skyrocketed 9 1⁄2 percent. Its biggest one day gain since 2008 and the Nasdaq soared 12% its biggest one day advance since 2001. the NASDAQ soared 12 percent, its biggest one day

advance since 2001. Goldman Sachs walked back its recession forecast shortly after President Trump announced the 90-day tariff pause, saying it now believes there is a 45 percent probability of a recession in the next 12 months, down from 65 percent, the bank lowering the forecast just minutes after the president's announcement. Altimeter Capital founder and CEO Brad Gerstner says what happens next will be key. If we get to the negotiating table with China, we get a deal done with China, we extend the tax cuts and we continue down the path of doge and deregulation.

If we get all these things, the market and the economy can look very different five or six months from now. It's rare in my 25 years of doing this, do you have such negative views and such concern juxtaposed right next to this potential positive outlook for the economy, but it's where we are. Tomorrow, we'll get a look at inflation with the Consumer Price Index, we'll get earnings from CarMax, and we'll find out how many people applied for unemployment benefits. Jill Schneider, CNBC. CNBC.

Ambiciously.