CNBC Business News Update - Market Close: Stocks Higher, Supreme Court Appears Skeptical On Trump Tariff Power, Amazon Raised Prices Nearly 14 Percent So Far This Year 11/5/25

Episode Date: November 5, 2025

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I'm Jessica Eddinger, CNBC. Wall Street opens Thursday morning after a winning day for stocks rebounding from Tuesday's sell-off. Investors liked how the Supreme Court questioned White House lawyers on the whole Trump tariff regime. The Dow was up 225 points, a half percent. MGen shares let it higher. They were up 8%. The S&P 500 index up 24. The NASDAQ was up 151 points. That was a half percent. Supreme Court justices appeared skeptical that President Trump's tariffs are legal. Investors know that companies and their customers have been largely paying for them. One thing that raised my eyebrows was the degree of skepticism that you heard from some of these conservative justices, including some of the Trump appointees to the Supreme Court,

who were pushing back on the Trump administration's argument that this 1977 law known as AEPA does give the president the authority to conduct tariff. as well as to regulate global commerce. The argument here is that, you know, of course, the Constitution gives Congress the authority to raise taxes and to issue tariffs, not the executive branch. And therefore, unless Congress very explicitly says we're going to delegate that power to the executive branch,

it hasn't done so. CNBC's Aiman Javers in Washington, there is no timeline for a decision from the court. Amazon, Walmart, and Target have all raised prices this year as retailers grapple with higher. costs on their end because of tariffs, Amazon raised prices the most by 13.8% according to research firm DataWeave. There's some hope for the job market. ADP says private payrolls increased by 42,000 last month. That was the first increase since July. This is not the hiring rates that we

saw at the beginning of the year. Far from it. But it is a recovery. It is not broad-based. We did see some gains in education and health care. We did note the gains in trade transportation and utilities, but there's some weakness. You see it in professional services. You see it in information services. When you think about the consumer, you see it in leisure and hospitality. ADP chief economist Neela Richardson on CNBC. McDonald's is out with mixed quarterly results. We are seeing commentary around the Hispanic population and the fact that they are not gathering anymore. They're not, frankly, going out as much and things of that nature in a lot of different names. Right. And I think that wherever people gather to buy things, you have 16% of the

populations that may be afraid to go somewhere, you're not going to make your numbers. And I think it's starting to dawn on people that the biggest issue in this country is we can't find people to work. And the people who could work are afraid to go out of their homes. CNBC Mad Money host Jim Kramer and CNBC's David Faber. McDonald's Extra Value menu got new additions this week, including a lower price for a 10-piece chicken McNugget meal. Fewer people applied for mortgages last week to buy a home with interest rates moving around. On Wednesday, the average rate on a 30-year home loan ticked higher, almost 6.4% according to Mortgage News Daily. On Thursday's watch list, more earnings from Warner Brothers

Discovery, a firm and Airbnb. Tesla's annual shareholder meeting is set for Thursday night. Starbucks brings back the eggnog latte in stores Thursday for the first time in four years. Jessica Ettinger, CNBC. This December, CNBC opens its doors for an exclusive in-person experience at the iconic NASDAQ market site in New York City. Fast Money Live, trading the holidays. December 11th. Get your tickets now at CNBC Events.com slash fast money.