CNBC Business News Update - Market Close: Stocks Higher, S&P 500 Index Closes At New Record High, Trump Administration Will Garnish The Wages Of Student Loan Borrowers In Default 12/23/25

Episode Date: December 23, 2025

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I'm Jessica Eddinger. CNBC. Wall Street opens Wednesday morning after a winning Tuesday for stocks and a record high close for the S&P 500 index. Let's start with the Dow. It was up 79 points led higher by shares of NVIDIA, which were up 3%. The S&P 500 index was up 31 points. The NASDAQ added 133 points. Companies who shares hit fresh all-time highs on Tuesday include Alta Beauty and Marriott. J.P. Morgan and Charles Schwab. Novo Nordisk shares were up 7% Tuesday. The FDA approved its weight loss pill. Wagovi in pill form. So people who don't like weekly shots could take a daily pill.

It'll cost less than the shot, too, at only $150 a month. Consumer confidence tanked again, sinking to the lowest level in December since President Trump's tariff rollout back in April. December, consumer confidence from the conference board expected to come in around 91 as a disappointment comes in at 89.1. If we look at the present situation, it comes in at 116.8. This is a huge miss, huge miss. The weakest since Feb of 21.

CNBC's Rick Santelli, Americans are tired of higher prices and a weakening labor market. Credit card company Visa says it's data show that consumers are actually doing okay with spending this holiday season, even though they're worried. Visa economist Michael Brown tells CNBC it kind of surprised him. The resilience of consumers. We have seen much softer consumer sentiment and consumer confidence measures relative to this same time last season, yet consumer spending held up. The U.S. economy grew at a 4.3% pace in the third quarter. That was much stronger than expected in the latest GDP numbers, gross domestic product. No anyone who has student loan debt they haven't paid in a while?

The Trump administration will start garnishing the wages of student loan borrowers in default next month. Wednesday is day one of the so-called Santa Claus rally period. That's a seven-day trading period that this year will end with the close of trading on Monday, January 5th. There have been no Santa Claus rallies for the past two years. You know, these next seven days hire more than 77% of the time. If you look at all the seven-day combinations out there, none are more likely to be higher. We've never seen Santa not come three years in a row. Maybe this year could be the first.

I don't think it will be. I think we'd probably move back to new highs, which aren't really that far away. The Carson Groups Ryan Dietrich on CNBC. Stocks are on pace for a solid winning year, but look at precious metals. And people are giving those one-ounce gold so-called biscuits for Christmas, little gold bars. Investors are just now starting to catch up to the gold trade, and we're really starting now to see flows enter into physical gold. Sprott asset management's Steve Schatzol on CNBC. Americans are on the road for Christmas with prices at the pump at four-year lows.

Great news for consumers, but not the best for the oil giants. Oil's sitting around $58 a barrel, and companies like ExxonMobil and Chevron don't want it to go much lower or it really eats into profits. On Wednesday's watch list, that half-day. of trading for stocks on Christmas Eve Day. The markets will close at one Eastern Wednesday. We find out how many people applied for unemployment benefits last week and new in theaters, Universal's Song Song Blue, Sony's Anaconda, and A24's Marty Supreme. Jessica Eddinger, CNBC. CNBC, live ambitiously.