CNBC Business News Update - Market Close: Stocks Higher, Major Averages Notched a Winning Week, Americans Gloomy In New CNBC All-America Economic Survey 10/17/25

Episode Date: October 17, 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 Monday morning after a week in the green for stocks and a Friday pop for the major averages. Bank credit and bad loan concerns and China trade tensions eased for investors on Friday. The Dow was up 238 points, a half a percent, led higher by shares of American Express, which popped 7 percent on strong quarterly results. The S&P 500 index, up 34 points, a half percent. The NASDAQ, up 117 points, also a half percent. InVIDIA shares were up three quarters of 1 percent on Friday. You did have this crescendo of buying in a lot of the spec fraud stuff that has now come off, volatility up, Bitcoin down. Everybody, literally everybody who expected of a year-end rally said, oh, we could get some bumps in October.

These are bumps in October. CNBC's Mike Santoli Gold with another intraday all-time high Friday before settling lower, $4,213 an ounce gold has had nine straight weekly gains. For the first time in more than five years, U.S. crude oil hit the $56 a barrel mark on Friday, its lowest since last May, before rising to 57 for the close. CNBC's new All-America survey on how regular Americans are feeling about inflation and their jobs. is out, and they're not feeling so great. Public's concerned with losing their job grew in the latest All-America survey, along with ongoing worries about inflation and wages not keeping up. The generally poor attitude Americans have about the economy right now

that has dragged down President Trump's approval rating on the economy further into negative territory. It comes to prices. 75% Americans say prices are rising. Meanwhile, just 31% of public think their wages will increase in the coming year. That's the lowest level we've seen since 2021. So job concerns, higher prices, wage is not keeping up. CNBC's senior economics reporter Steve Leesman. American Express, as we mentioned, shares up 7% Friday with wealthy customers, and they spent in the last quarter.

Till spending on Amex cars rose 8.5% to $421 billion in the third quarter, which is a pickup from the second quarter. Growth was fueled by a 12% increase at spending of retail stores, 14% jump in purchases a first in business class airfare and a 5% rise in overall travel spend. CNBC banking reporter Hugh Sond. American shoppers may be poised to spend more money for the holidays than first thought in a new survey of consumers by the National Retail Federation. The survey of consumers that we released shows the second highest estimates ever for holiday spending by consumers. So I think that's a really good sign. We're going to have a healthy season. What happens in the first quarter of next year, I think it's the open question about pricing and what happens with tariffs and trade.

National Retail Federation's Matt Shea on CNBC. Small businesses are being crushed by the Trump tariffs. And economists say it's a warning for the economy. CNBC interviewed nearly a dozen small business owners and many say they've had to freeze hiring, pull back growth plans and even take on new loans or cut salaries just to keep the business afloat. You can read that full story at CNBC.com. as the U.S. Grand Prix runs in Austin, Texas, Sunday afternoon, Formula One, and Apple announced a five-year deal bringing all F-1 races to Apple TV streaming in the U.S. On Monday's watch list, earnings are coming from regional banks like Zion's Bank. In the coming week, we get earnings from big names like Coca-Cola, Ford, and General Motors. We also get a fresh look at inflation with the delayed CPI Consumer Price Index for September. Jessica Eddinger, CNBC.

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