CNBC Business News Update - Market Close: Stocks Lower, Airlines Scramble To Cancel Flights, October Job Cuts Surge 11/6/25

Episode Date: November 6, 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, a Thursday sell-off for stocks, AI and tech shares leading the way down. The Dow fell 398 points, 8 tenths of a percent. Salesforce shares let it lower down 5%. The S&P 500 index was down 75 points, 1%. And the NASDAQ plunged 445 points. That was almost 2%. Shares of Nvidia were down 3.5% on Thursday. The Trump administration ordered by a judge to pay full SNAP benefits for November by this Friday.

Airlines ordered to cut 10% of their flights. The FAA wants to ease the burden on air traffic controllers who are not being paid in the government shutdown. It's the 40 largest airports. In some cities like Chicago, New York, Washington, Los Angeles, Dallas, you're going to see fewer flights. The question for investors is, how are they going to manage this? And then the big question is still hanging out there is how long does this go on? You know, if it gets close to Thanksgiving, people are not going to be happy. CNBC's Phil LeBoe.

The White House announced a deal lowering the sticker prices for weight loss drugs through President Trump's new website, TrumpRX.gov. Eli Lilly and Novo Nordisk are committee to offer Zepbound and Wigovi. This will slash the cost of Wigovi to ultimately $250 a month and reduced a monthly cost of Zepbunders. Zep bound to $346. The price for Zepbound is the same as Americans pay now through Eli Lilly's direct website for the starter dose. Job cuts last month hit the highest level for any October in 22 years. Employment firm Challenger Gray and Christmas says businesses announced more than 150,000 firings last month, a surge from September. When I saw those Challenger levels, that can't That can't just be people just saying, hey, I mean, there is really in this country a sense that this thing is really causing it.

The shutdown, you mean, on labor. Yeah. I mean, the Challenger layoffs, we saw the government data, but it's the most for an October since 2003, the most for a quarter since 2008, and of course, the most for a year since 2020. Yeah, look, I mean, there it is. One of the reasons why two-thirds of the stock market keep going down is because the country is slowing down big, and the president, may not be aware of this. CNBC Mad Money host Jim Kramer with CNBC's Carl Kintanilla. Diageo, which makes Guinness, Smyranoff and Johnny Walker, and more, slashed its sales and profit outlook.

It was a sobering quarter for Diageo weakness in the U.S. and in China. Chairs are at their lowest level in a decade. Facebook and Instagram ads for scams and fraud made up about 10% of revenue. That's $16 billion. for parent company meta last year. Reuters says these include ads for fraudulent e-commerce and investment schemes, illegal online casinos, and the sale of banned medical products. The report is based on internal Facebook and Instagram documents.

On Friday's watch list, earnings are coming from Constellation Energy, Duke Energy, and Wendy's. The 68th Grammy Award nominations will be announced. New in theaters, Disney's Predator Badlands, and Sony's drama, Nuremberg. And the Mega Millions jackpot Friday night? $843 million. 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. Thank you.