CNBC Business News Update - Market Close: Stocks Higher, Gold Has Worst Day Since 2021, China Scolds President Trump 4/23/25

Episode Date: April 23, 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 Thursday morning after a faded rally on Wednesday. President Trump turning down the heat on the Fed chair. Stocks still finished solidly higher with the Dow up 419 points, 1 percent. The S&P 500 index up 88 points, 1.5 percent. And the Nasdaq up 407 points. That was two and a half percent. Shares of Nvidia popped up three and a half percent on Wednesday afternoon. We can get out of this with too much damage but there are still probably gonna be some scars and I think one of those scars is the psyche of the international investor. The investor sitting in Canada, sitting in Europe, who have been awakened to the

fact that they may need to diversify out of the U.S. There's a certain distrust that's emerged. That's RBC's Lori Calvicina on CNBC. Some profit taking in gold on Wednesday. It pulled back from a record high, gold falling 3% for the worst day since June of 2021. President Trump easing investors' fears over his trade war with China,

saying the tariffs will come down substantially, and that helped stocks pop. But later, China scolded the president. We got a statement from the Chinese foreign ministry. It's a sternly worded statement saying if a negotiated solution is truly what the U.S. wants, it should stop threatening and blackmailing China and seek dialogue. To keep asking for a deal while exerting extreme pressure is not the right way to deal with China and simply will not work. CNBC's Eamon Javers at the White House. Boeing shares popped 6% Wednesday after reporting a smaller quarterly loss than expected.

The Trump trade war hurting Boeing's deliveries in China. But the company has a plan. They have in fact stopped taking delivery of aircraft. We're working with our customers right now. We're not going to wait too long. We'll give the customers an opportunity if they want to take the airplanes. That's what we prefer to do. But if not, we're going to re-market those airplanes if people want them.

Boeing CEO Kelly Ortberg on CNBC. A dozen U.S. states are suing President Trump in a bid to block new tariffs. And small businesses also have filed suit against the Trump administration over tariffs. Here's the CEO of Learning Resources. It's a family-owned toy company, along with CNBC's Becky Quick. I've used plenty of your toys in our house. If you talk to supporters of the president they'll say look this is a problem Americans got addicted to cheap imports and we're better off

finding manufacturing and sourcing here in the United States. What's your response to that? Well that's infuriating. Our company exists because we're able to deliver those products to you at a price you're willing to pay and that you think provides a value. So that means that the jobs we've created don't matter. In addition, by raising the cost of these products to force us to make these products in the US, which we believe is impossible, you'll shrink the size of our market

and you and everyone else in this country will be impoverished. I honestly don't understand why people think it is a good strategy to make me raise my price to 70 percent. Who benefits from that? I won't. I'm just raising money from you to pay them. It's a tax. Learning Resources CEO Rick Waldenberg on CNBC. On Thursday's watch list, we get earnings from Google Parent Alphabet, Southwest Airlines, PepsiCo and more. We get existing home sales numbers, durable goods orders

and we find out how many people applied for unemployment benefits last week. Thursday night, round one of the NFL draft in Green Bay, Jessica Edinger, CNBC. Welcome to CNBC Plus, market destination. CNBC Plus, on the go access to global market data, news and analysis as it happens. Start streaming at CNBC.com slash plus.