CNBC Business News Update - Market Close: Stocks Higher, S&P 500 Index Closes At 39th Record Of The Year, Markets Closed For Christmas Holiday 12/24/25

Episode Date: December 24, 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 Friday morning after the Christmas holiday with stocks at or near record highs. The S&P 500 index had its 39th record close of the year on Christmas Eve. But let's start with Wednesday's numbers for the Dow. It was up 288 points, a little more than a half percent. Nike shares let it higher. They were up four and a half percent. The S&P 500 index up 22 points Wednesday, NASDAQ, up 51. In the red were NVIDIA shares. They were down three-tenths of 1%. Companies who shares hit fresh all-time highs on Christmas Eve Day include J.P. Morgan, Bank of America, Capital One, Micron, and Coach Parent Tapestry. 25 was a great year. Growth stocks really led the market. And the other big issue for 2025,

was just how strong a factor momentum was, where all you had to do was look backwards and just buy the stocks that had been performing the best, and they continued to outperform. Oak Mark's Bill Nygrin on CNBC. Fewer people applied for unemployment benefits last week than expected, but continuing claims popped back up over 1.9 million. Now, these are people who have to keep collecting checks,

and it suggests that it might be taking longer, for them to find the next job. Last week, the number of people who claimed benefits for the first time hit 214,000. 250 is where you start to say, I got to pay attention, up to say 275, where I'm still not worried. And if I started getting closer to 300, I'd be like we have real weakness in the job market. CNBC, senior economics reporter Steve Leesman. Americans are enjoying the lowest gas prices in about four years for the holidays. Rent is. lower, not for people renting now, but for people who are out there looking. And Deutsche Bank's senior economist Brett Ryan tells CNBC, this is all helping Americans and their budgets

as they try to offset higher prices they're paying in stores. You have housing CPI rents that are falling, which is a positive. That's been checking the growth in goods inflation. Goods inflation has been picking up because of the tariffs. And while no one's talking about the American deficit at this time, He says that Americans will see more cash in their wallets in the next eight to 12 weeks because of the tax cuts in the big, beautiful bill. Tax refunds this year are going to be huge. We estimate roughly 50 to 60 billion in extra tax refunds. That acts like a stimulus. That should fuel solid growth in the first half of next year. Southwest Airlines profits down more than 40% for the year, but it's the top U.S. airline stock, gaining more than any other airline.

Why? Southwest says new fees in the new year to check bags and for assigned seating will generate cash and investors agree. On Friday's watch list, no data, no earnings reports, but retailers are bracing for returnuary, even though it's still December. The two days after Christmas actually are the biggest days for in-person returns at brick-and-mortar store locations. Jessica Eddinger, CNBC. CNBC live ambitiously.