CNBC Business News Update - Market Close: Stocks Higher, Commerce Secretary Says At Least One Trade Deal Is Done, Consumer Confidence Lowest In 5 Years 4/29/25

Episode Date: April 29, 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 Jessica Ettinger.

I'm Jessica Edinger CNBC. Wall Street opens Wednesday morning for the final trading day of April after a winning Tuesday on word the U.S. is close to at least one trade deal. The Dow on its longest daily winning streak since last summer. The S&P 500's longest streak in the green since November. Tuesday the Dow was up 300 points, three quarters of a percent led higher by shares of Honeywell of 5%. The S&P 500 index added 32 points, the NASDAQ up 95. That was a half percent.

Nvidia shares were up three tenths of 1%. Companies whose shares hit fresh all-time highs Tuesday include Quest Diagnostics, Cardinal Health, and Netflix. The Commerce Secretary told CNBC in an exclusive interview that a trade deal is coming. I have a deal. Done. Done. Done. Done. But I need to wait for their Prime Minister and their Parliament to give its approval, which I expect shortly.

I'm not going to tell you what country. It's just you and me here and a couple million people hopefully watching. I'll let the President decide. Commerce Secretary Howard Lutnick on CNBC. That helps stocks pop on Tuesday. Starbucks out with disappointing earnings after the closing bell, but the company is optimistic about its turnaround. Amazon will not make it clear to shoppers what the increased cost of an item is as a result of the Trump tariffs. The company will not break that out on the checkout screen after President Trump called Amazon's founder.

Jeff Bezos was very nice. He was terrific. He solved the problem very quickly. Chinese e tailors, Taimou and Sheehan are listing the surcharges for shoppers to see. Lawmakers in Washington are now trying to shift the focus from tariffs to tax

cuts as they work on a new tax bill. The Treasury secretary talked about the president helping working people. President Trump is adding the things for working Americans that he talked about earlier. No tax on tips, no tax on overtime, no tax on Social Security, making auto payments deductible. So that will substantially address the affordability crisis. Treasury Secretary Scott Besant. Consumer confidence tanked in April to the lowest in almost five years. Consumer confidence, these are April numbers.

We come in at 86, weakest since April of 2020. And if we look at expectations, 54.4, you have to go all the way back to October of 2011, 2011, to find a lower number on confidence. That's CNBC's Rick Santelli. Job openings in the U.S. hit their lowest since last September in the new Joltz report on job opportunities and labor turnover. Coca-Cola reported strong quarterly results. It says tariffs won't affect the company much, but they will impact bottlers and retailers

and ultimately consumers. Coca-Cola CEO also says global anti-American sentiment is something the brand can handle. There has been some negative sentiment in a number of countries. We find when we do face some of that negative sentiment, if we focus on the localness of its operation made in country X by people from this country, it brings the business back. So it's a it's a problem we encountered in Q1. It'll happen sometime in the future but we have a game plan to see us through it. That's Coca Cola

CEO James Quincy on CNBC. On Wednesday's watch list, it's the last day of April trading. We get the latest on US economic activity with GDP gross domestic product. Earnings are coming from big names like Facebook, parent Metta, and Microsoft plus McDonald's and CVS. Jessica Edinger CNBC.