CNBC Business News Update - Market Close: Stocks Lower, Gold And Bitcoin Hit All Time Highs, Used Car Prices Higher 10/7/25

Episode Date: October 7, 2025

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I'm Jessica Eddinger, CNBC. Wall Street opens Wednesday morning after a record-setting Tuesday, but not for stocks, for gold. Let's start with the markets, though. The Dow was down 91 points, led lower by shares of Nike. They were down 3%. The S&P 500 index fell 25 points on Tuesday. The NASDAQ was down 153 points, a little more than a half percent. Shares of Invidia were in the red down about a third of a percent. Companies who shares hit fresh all-time highs on Tuesday include travelers. General Dynamics, Northrop Grumman, RtX, Raytheon, IBM, Palo Alto Networks, and Martin Marietta, to name a few. Recognizing that, yeah, we're probably in a bubble. That is okay.

Recognizing the tailwinds that are at the market right now. So think about, you know, Fed cutting. You see AI innovation. And we're about to enter into an earnings cycle, which is, by all accounts, going to be relatively strong. Vista equities Ashley McNeil on CNBC. Bitcoin set a fresh record high Tuesday, topping $126,000 before it pulled back. Gold, a traditional safe haven and a hedge against uncertainty, hit a record high Tuesday, topping $4,000 an ounce for the very first time.

CNBC, Scott Wapner, on what Bridgewater's Ray Dalio says about, gold. Bridgewater's Ray Dalio today saying investors should have 15% of their portfolios in gold. Today is like the early 70s. He said investors should hold more gold than usual. Jeffrey Gunlock told me, what, a month ago, 25%. And so far's Liz Thomas on gold on CNBC Tuesday. So if we're looking at gold as purely a defensive asset or a safe haven, then you could look at this and say this is a signal of something ominous to come. I don't know that that's really the case right now. The government shutdown meant no September jobs report last week

and an analysis by investment giant Carlisle shows that data would have been pretty bad. Employment growth would have stalled even more dramatically in September than hiring stalled back in August. What was most interesting about our monthly data in September was that payroll employment growth implied from the data was only 17,000. So very low. Typically, when you see jobs growth that low, particularly the deceleration observed over the course of 2025, entering the year, payroll employment growth was about $200,000 a month.

You would think it was an economy on the cusp of recession or having already succumbed to recession. Carlyle Research Head Jason Thomas on CNBC. Used car prices were up again last quarter. The used market is more elevated in terms of pricing than we usually see this time of year. remember what drives the used car market is the new car market tariffs pushing prices up generally speaking we see new vehicle prices at an all-time high so what does that mean more people go into the used market more people go into the used market that pushes up prices up 2% compared to the same quarter of last year cnbc's phil labo on wednesday's watch list we get the minutes from the latest fed meeting we find out how many people applied for mortgages last week walmart's

holiday sale is on as Amazon Prime's Big Deal Days will end Wednesday night. Jessica Edringer, CNBC. CNBC has the most affluent audience in television, but money itself doesn't have any meaning. It's how you make it and what you do with it that gives it purpose.