CNBC Business News Update - Market Close: Stocks Lower But A Winning August, Spirit Airlines Files For Bankruptcy, Inflation Almost Back At 3%, Markets Closed Labor Day Monday 8/29/25

Episode Date: August 29, 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 by CNBC's Jessica Ettinger.

I'm Jessica Eddinger, CNBC. Wall Street opens Tuesday after the Labor Day Monday holiday for the first trading day of September. A winning August is in the books after a down market on Friday. On Friday, the Dow fell 92 points led lower by shares of Caterpillar. Cat says it's raising prices because of tariffs. Cat shares were down 3.5% on Friday. The S&P 500 index down 41 points. The NASDAQ fell 2%.

249 points, a little more than 1%. On Friday, NVIDIA shares were down 3.3%. But the S&P 500 index did notch its fourth straight winning month, and here's where the major averages stand year to date. The Dow up 7%. The S&P 500 indexed up almost 10%. And the NASDAQ up 11% so far this year. Some investors have been selling,

So they have cash on hand to buy up stocks if there's a big pullback coming in September. What I've been doing this month, the last few weeks trimming and raising cash, as we enter September, a notoriously tricky month. What I see is opportunity. It's coming. And I see the sentiment starting to roll over in the stock market, and that's going to be opportunity to put money back to work. Serity partners Jim Labenthal on CNBC. Another investor says that if there's a pullback, it should be manageable. If we have a little seasonal weakness after a 30% rally, I think it's going to be contained, say 4% to 6% and there's still a lot of reasons.

The underlying pinnings that got us to this bull market are still healthy. Carson Groups Ryan Dietrich on CNBC. Spirit Airlines filed for Chapter 11 bankruptcy protection late Friday for the second time in a year. Inflation continues to rise in July. It hit its highest since February, now almost back up to 3%. The Fed's preferred inflation indicator coming in on. on target, which was the good news, but the bad news is that it came in on target, which means it was higher. Headline PCE rising 2.6 percent year over year, core increase to 2.9. That's

up a 10th. Both have now risen for three straight months, and that's maybe the most important factor there. Inflation has not shown the full-blown effects of the tariffs, which many economists worry could still be to come. CNBC senior economics reporter Steve Leesman. and Wall Street is paying attention to rising prices. Friday's Wall Street Journal headlines says it all. Higher prices are coming for household staples. Page one of the journal talking about the company's warning of price hikes. We're still working off of pre-tariff inventory in most of the country and most products.

So as that starts to fade and as companies I think we're just sort of hunkering down, taking a margin hit, hoping, okay, this is going to be short term, this is going to be resolved. But at some point as that inventory bleeds off, And as they have to get some margin, the prices are going to have to go up. That's CNBC's Robert Frank and Carl Kintanilla. Business owners, especially those who sell on eBay, Etsy, and Shopify are now trying to figure out how hard their incomes are going to get hit. With new tariffs on small dollar goods coming into the U.S., the de minimis rule is now gone. It made shipments under $800 exempt from the Trump tariffs.

new in theaters for the holiday weekend sony's caught stealing and iconics the toxic avenger on the coming week's watch list we're back at it with earnings from sales force broadcom macy's and campbells plus we get august job numbers on friday with the labor department's employment report jessica eddinger cnbc football season is back sports business expert mike ozani and breaks down the latest numbers the biggest the most profitable sports league in the world Exclusive NFL team valuations. September 4th, CNBC.