CNBC Business News Update - Market Close: Stocks Higher, Investors Shake Off Trade War Worries, Alphabet Lower After Hours On Revenue Miss 2/4/25

Episode Date: February 4, 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 and the Green. As investors shook off Trump's trade battles, the Nasdaq, it had some gains led by Palantir, which was up more than 20% on Tuesday. The Dow was up 134 points, led higher by shares of Chevron, up 2.5%. The S&P 500 index up 43, the Nasdaq soared up 262 points. Nvidia helped. It was up 1.7% on Tuesday. Companies who shares hit fresh all-time highs Tuesday include Amazon, Walmart, IBM, and Google Parent Alphabet. But it reported quarterly results after the closing bell that sent shares down 6% on a revenue miss. Electronic Arts shares

higher in extended trading on its results. Snap shares soared after hours on its quarterly numbers. China retaliates with additional tariffs on goods starting Monday, although that may not hold. Some investors are just trying to ignore the whole tariff situation. We lost 40-something points yesterday. We gained back the 40 today. And that's because tariffs on, tariffs off. I think everybody realizes it's not make or break for the economy. It's not make or break for earnings growth. Well, they're seeing through it.

We're trying to see through it. I do think that's exactly the case. CNBC's Mike Santoli and Sarah Eisen. One election and things have changed for investors. We had last year, we had a very strong year. We had 57 record highs. So in those kinds of environments, you're setting yourself up where there's not a lot of margin for error. Hence, you saw the market sell off quickly on the hair trigger fashion last Monday with deep seek. And you saw this Monday with the tariff news. So you have to take that stuff into account where certain events,

which may have been reacted to in one way a year ago, are going to be reacted to differently now. That's bespokes Paul Hickey on CNBC. Another investor says U.S. economic growth is going to offset any trade war worries right now. The economy right now, the Atlanta Fed tracker came out, almost fell off my chair. It was 3.9% for the current quarter. The economy is now, the Atlanta Fed tracker came out, almost fell off my chair. It was 3.9% for the current quarter. The economy is running strong.

So we don't like tariffs. It's a lot of uncertainties. But I think we can handle it because the economy is very strong. And it's led by the consumer, by income, by spending. Hightower's Stephanie Link on CNBC. Job openings dropped sharply in December in the new Joltz report on job opportunity and labor turnover. Expecting 8 million-ish, 7,600,000. That is the smallest month-over-month job openings.

Well, going all the way back to SEP of last year. CNBC's Rick Santelli. Shares of private prison operators, Geo Group and CoreCivic, were lower Tuesday after the country of El Salvador offered to jail U.S. criminals and undocumented migrants. Both stocks have surged since President Trump won the election. On Wednesday's watch list, more big earnings reports, including from Disney and Ozempic maker Novo Nordisk plus Ford, Allstate, Uber and MetLife. We find out private company hiring numbers for January in the new ADP report and Asian stock exchanges reopen after being closed for the Lunar New Year. Jessica Edinger, CNBC. Earnings season, the quarterly numbers as they break. The scorecard for the American economy.

Earnings season on CNBC.