CNBC Business News Update - Market Close: Stocks Higher, Nvidia Reports Strong Quarterly Results, Higher Thanksgiving Prices At the Pump 11/29/20

Episode Date: November 19, 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 opening Thursday morning after the Fed meeting minutes cast some doubt about an interest rate cut next month, but on strong results from Invidia for the last quarter. Those came after the closing bell. The major averages did all finish higher. The Dow up 47 points led higher by shares of Invidia before the close up 3%. The S&P 500 index up 24. That was 3.10. tenths of a percent, the NASDAQ was up 131 points, a little more than a half percent. Shares of Google Parent Alphabet hit a new record high on Wednesday, but it's all about NVIDIA out with better than expected quarterly results after the closing bell Wednesday. Shares popped 4 percent immediately in after hours trading, and for many Americans, as goes NVIDIA, so goes your 401K. If you have an S&P 500 index fund in one. This is a company that's representative of, what, 7, 8% of the S&P 500 right now, something like 20% of all the positive gain in the S&P has been attributable to NVIDIA.

And I think over the last three years, we've seen roughly 1,000% return for NVIDIA. So it's a bellwether for the entire ecosystem. NVIDIA shareholder capital area planning's Malcolm Etheridge on CNBC. And CNBC's Scott Wapner notes, Nvidia really can't make a mistake. The world is left. to NVIDIA. Yes. This trade on a global nature is levered to a small number of companies. Yes. A misstep at any point along the way has dramatic ripple effects and ramifications far further than our shores. President Trump threatening to fire his Treasury Secretary, Scott Bessant,

and more. Really ramping up his criticism of Jay Powell, the Federal Reserve Chairman, and also offering some more unusual criticism of Scott Bessent, the Treasury Secretary. Despite the Fed, I mean, Scott, you've got to work in this guy. He's got some real mental problems. No, he's something wrong with him. It's just, sweet I'd be honest, I'd love to fire his ass. You got to work on him, Scott. The only thing Scott's blowing it on is the Fed.

Because the Fed, the rates are too high, Scott. And if you don't get it fixed fast, I'm going to fire your ass. So some real frustration there from the president of the president, United States. CNBC's Amin Javvers in Washington, Constellation Energy. Getting a loan from the federal government to reopen the three-mile island nuclear power plant. Target shares fell 3 percent Wednesday. It cut profit outlook. As shoppers look for deals, they're not finding them at Target and they visit Target stores less often. They're talking about investing more in the stores themselves. I think that the stores have been underinvested it. And if you make the stores look fresh,

it is worth it. The new CEO, to be fair, has yet to take over. That's not so February. This quarter is not his. I think he should come in when he becomes the CEO and very quickly say, look, our stores, the ones that are run down, maybe we should close them. Not every store should be invested in. We've learned that.

We've learned that from Macy's. CNBC Mad Money host Jim Kramer there with CNBC's David Faber. You are paying more at the pump heading into the biggest travel period of the year. prices up 1% heading into Thanksgiving week from a year ago. Diesel is up 7% from a year ago. This is according to AAA. On Thursday's watch list, we get the September jobs report very late, but it wasn't released in the government shutdown. Earnings are coming from Walmart. We get existing home sales numbers for October, and it's one week to Thanksgiving. Jessica Eddinger, CNBC. President's latest, I swear, is watching. Squawk box, 6 a.m. East

and streaming on CNBC Plus.