CNBC Business News Update - Market Close: Stocks Have Best Day Since May 27, Energizer Shares Soar, Spotify Hikes Prices

Episode Date: August 4, 2025

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

I'm Peter Schachnaus, CNBC. Any concerns investors might have had over the July jobs report have apparently dissipated for now, with the stock market's Monday gains making up for a good chunk of Friday's losses. The Dow jumped 585 points to close at 44,174. The S&P 500 gained 1.5 percent, or 92 points. The Nasdaq rallying 4033 points or nearly 2 percent. The gains for the major averages the largest since May 27th.

Friday's slide came on the heels of that jobs report and the subsequent firing of the head of the Bureau of Labor Statistics by President Trump. Former Cleveland Fed President Loretta Mester says data collection should be improved, but what the Bureau needs is more help. What the president did by firing the head of the agency is not constructive in that way at all. We should be supporting them to give them more resources so they can improve their data collection and compilation of data, not undermining the agency. And I view what happened on Friday as being an undermining of the agency, which is not going to be helpful. One piece of economic data out today.

Factory orders fell 4.8 percent in June, a slightly smaller drop than analysts had expected, the decline largely due to a sizable drop in aircraft orders. Battery maker Energizer Holdings had a big day, soaring nearly 27 percent after reporting better than expected earnings and raising its outlook for the year. And shares of streaming service Spotify gained 5 percent after the company implemented price hikes in overseas markets that mirrored similar increases implemented in the U.S. in June. Peter Schacht now, CNBC.