CNBC Business News Update - Market Close: Stocks Lower, Costco Earnings Beat, Amazon Settles "Prime Membership Tricks" Case, Starbucks Closing Stores 9/25/25

Episode Date: September 25, 2025

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I'm Jessica Eddinger, CNBC. Wall Street opens Friday morning after a losing Thursday for stocks. The S&P 500 index down for four straight days now. It's longest losing streak in a month. Let's start with the Dow. It was down 173 points, 3 tenths of a percent, led lower by shares of drug maker Amgen, which were down almost 3%. The S&P 500 index lost 33 points. The NASDAQ was down 113. points. InVIDIA was in the green on Thursday, up four-tenths of one percent. CNBC's Mike Santoli says the pullback could have been bigger. The market has had every excuse to have a more meaty pullback this week. It came in overbought. You obviously have the seasonal weakness, but it's really not an across-the-board retreat. Things have stayed orderly. Costco out with quarterly results after the closing bell. It beat expectations for both earnings and revenue. Costco shares have a high price tag trading around $943 each, and they're only up about 3% year-to-date. Three days into a trial, the Biden administration's Federal Trade

Commission case against Amazon, accusing Amazon of tricking customers with its prime members program. It ends in a major settlement with the Trump administration FTC. Now, regulators saying Amazon tricked and trapped millions into subscriptions, and then made cancellation confusing and difficult. Now, as part of the settlement, they will be creating a one and a half billion dollar consumer fund to reimburse the 35 million customers who were impacted. This settlement ends one of the highest profile consumer protection fights in years. It is one of the FTC's largest penalties yet. CNBC's McKenzie Sigalos. Existing home sales were flat last month after a blockbuster August for the builders and a 20% increase in the sale of

newly built homes. home sales were essentially flat in August. Supply is the new story in this month's report. It is suddenly dropping as sellers come off the market. It is now a 4.6 month supply of homes for sale. That's considered lean, though. And that's keeping prices in the positive. The median price of a home sold in August, $422,600. Still up 2% year over year and the 26th consecutive month of annual price gains. Homes are now staying on the market longer, 31 days up from 26 last year. NBC is Diana Ollick. Starbucks is closing stores and firing workers.

It's a $1 billion restructuring. About 100 stores could be closed and about 900 people could lose their jobs. Starbucks is filing in 8K. The filing says the company assessed its existing store portfolio with respect to both whether its coffee houses had a viable path to offering the physical environment that they feel is consistent with the brand and a clear path to financial performance. It's going to close those coffee houses that do not meet the criteria. 900 layoffs. They did lay off about 1,100 employees, many of them in corporate headquarters earlier this year. So definitely focusing on the stores that are working under this new Back to Starbucks plant. CNBC's Kate Rogers. On Friday's watch list, the latest on inflation

will be out in the PCE Personal Consumption Expenditures Report, along with the latest data on personal income and spending for Americans. The Nike Skims Collaboration Collection launches. It's the Ryder Cup, U.S. versus Europe, golf tournament, and Cracker Barrel has $5 all-you-can-eat pancakes. As the chain tries to lure in more customers after its rebranding backlash, Jessica Edding, CNBC. The president's latest, I swear, is watching. Squackbox, 6 a.m. Eastern and streaming on CNBC Plus.