CNBC Business News Update - Market Close: Stocks Higher, Apple Shares Hit Fresh Record On iPhone 17 Sales, Amazon Web Services Global Outage 10/20/25

Episode Date: October 20, 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 and reported by CNBC's Jessica Ettinger. 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 Jessica Eddinger, CNBC. Wall Street opens Tuesday morning after many apps and websites globally were knocked offline when Amazon's cloud service went down. But investors didn't worry about that. Apple shares flew higher, bringing the markets up. The Dow soared 515 points, a little more than 1%. The S&P 500 index, up 71 points, a little more than 1%. The NASDAQ up 310 points on Monday, 1.3%. Shares of NVIDIA were in the red. They were down 3 tenths of a percent.

You've got an economy is operating a pretty good level, and you've got a Fed that's got to bring rates down, and you've got a dynamic where corporate earnings are pretty good. By the way, do I love multiples, these levels I don't? But these earnings, and you're watching productivity happen, and you have the level of cash that's sitting out there that, you know, my guess is it continues to drive these markets higher. Black Rock's Rick Reeder on CNBC. Apple shares hit a record high on Monday, partly because of better sales for the iPhone 17, and maybe because of something else, too.

The 17 is doing well. And I think that's why you're seeing the stock at a high. But what takes this higher? The only thing that could do that is a chat GPT that Apple develops as its own in-house AI available to consumers. The thing that none of us are saying out loud, but is. buzzing like wildfire among Silicon Valley people is that Apple has a secret project underway for employees only. It's their own in-house chatbot. Code name is Veritas. It is probably the early stages of what Apple's AI is actually going to be. Ritholtz Welts, Josh Brown on CNBC. Amazon's AWS, Amazon Web Services with outages overnight Sunday and throughout the day on Monday. 37% of the global cloud market and brought in $107 billion last year, yet a single regional failure can still knock critical services offline worldwide. Cyber experts say this is not

a hack, but it is a reminder of how fragile the internet gets when a few companies run its core infrastructure. CNBC's McKenzie Sagalos. Boeing shares were higher Monday after the FAA said it could produce 737 max jets at a faster rate. Forty-two per month is the new rate for 737 max production up from 38 per month. It's the highest rate since late in 23, right before the Alaska Airlines door plug blowout. The backlog now of Max orders, it stands at almost 4,350 aircraft, and that should come down in time. They will be reporting their financials next week. CNBC's Phil LeBoe. On Tuesday's watch list, we got a load of earnings reports from Coca-Cola 3M General Motors. Lockheed Martin, Northrop Grumman,

Capital One and Mattel. McDonald's will have boo buckets in restaurants Tuesday with the purchase of a happy meal for Halloween. The 80th NBA regular season tips off Tuesday night with a double header, rockets at Thunder and Warriors at Lakers, and the Mega Millions jackpot Tuesday night, $650 million. Jessica Eddinger, CNBC. CNBC is the network for ambitious people.