CNBC Business News Update - Market Close: Stocks Lower, Bitcoin Tanks, Eli Lilly Cuts Weight Loss Drug Prices Again 12/1/25

Episode Date: December 1, 2025

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I'm Jessica Eddinger, CNBC, kind of a rotten start to December trading for stocks. Major averages all in the red on Monday, with the Dow snapping a five-day winning streak. It was down 427 points, 9 tenths of a percent. Merck shares let it lower down almost 3%. The S&P 500 index dropped 36, a half percent. The NASDAQ down 89 points. Shares of NVIDIA were in the green. They were up one and a half percent on Monday.

Cryptocurrencies slid right with stocks. Bitcoin hanging around $85,000 Monday afternoon, down 6 percent. Bitcoin sitting where it was last April. So this is more of a structural reset, that institutional floor that had been propping up Bitcoin just isn't giving the same support anymore. Spot Bitcoin ETF flows have finally flipped back to net positive, but they're pretty tepid. three straight sessions of only modest inflows, and then those all-important digital asset treasury companies that were effectively guaranteed buyers of Bitcoin, Ether, and Solana. They're now staring down potential forced selling. CNBC's McKenzie Sagalos, shares of Shopify got hit Monday, just like the company did with an outage on a major shopping day, Cyber Monday.

Shares of Shopify, they are lower on this Cyber Monday, one of the biggest shopping days of the year. the Canadian e-commerce company was hit with an outage, leaving some businesses unable to manage transactions. The company said it is, quote, seeing signs of recovery, but it's still continuing to monitor this situation. CNBC's Christina Parts in Evelace. Early numbers show that even when Americans say they're worried about money and they won't spend as much on the holidays this year. So far, it appears they're spending anyway. Lots of business being done on Cyber Monday. Despite worries about consumer confidence and the financial service. strain. The big unofficial kickoff to the holiday does appear strong. MasterCard spending pulses Black Friday retail sales rose 4.1% across all forms of payment in store and online. Now Adobe

Analytics says that Black Friday online sales grew more than 9.1%. That was better than expected to $11.8 billion. So so far by all measures, very strong online. CNBC's Courtney Reagan. Eli Lilly lowering the price of its Zepbound weight loss drug for patients who, use Lily Direct. The starter dose will go down to $300 a month from $350. Prices for higher doses top out at $450 a month. It's about a $50 a month discount for current patients. Many people have no insurance coverage for the drug, which lists at more than $1,000 a month, and they're choosing to pay for it themselves. A lot of employers are very reluctant to cover it because of their high cost, and it's only next year that we're going to see some Medicare coverage for obesity

drugs for the very first time. So a lot of patients have been opting for these sort of direct-to-consumer pathways. CNBC's Anika Kim Constantino. On Tuesday's watch list, earnings are coming from CigNet Jewelers, American Eagle Outfitters, Box, Crowdstrike, and Octa. We're going to get ADPs, weekly jobs estimate. We get the Joltz report on job opportunity and labor turnover. Nonprofits hope you'll open your wallet for giving Tuesday. And McDonald's has its Grinch meals on menus starting Tuesday that include dill pickle grinch salt mkshaker fries jessica eddinger 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

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