CNBC Business News Update - Market Close: Stocks Lower, Investors Want to See The S&P Top 7000, New Car Prices Hit Record High 1/16/26

Episode Date: January 16, 2026

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. Wall Street opens Tuesday morning after the Martin Luther King holiday. As investors way, President Trump's threat to tariff countries that don't go along with his effort to buy Greenland and other market-moving comments during the week. Friday was a losing day for the major averages. The Dow down 83 points led lower by shares of Salesforce. The S&P 500 index down four. The NASDAQ was down 14. InVIDIA shares dropped to half a percent on Friday. Companies who shares at fresh all-time highs on Friday include Goldman Sachs, Morgan Stanley, Charles Schwab, Johnson & Johnson, Caterpillar, Lockheed Martin, Northrop Grumman, Raytheon, and Micron. Major averages are in the green for the year, and investors are hoping to see the S&P 500 index top 7,000 for the first time. So we've had five different days in the last six when it's gone within a half percent of 7,000 and just pulled back. Now, not major pullbacks. The market has still has a healthy look to it.

S&P's up a percent and a half this year. That's CNBC's Mike Santoli. We are 11 trading days into 2026. If you're itching to buy and sell something over the long holiday weekend, there's always Bitcoin or other cryptocurrencies. That market never closes. President Trump threatening tariffs on countries that ship goods into the U.S. If those countries aren't going along with America's planned purchase of Greenland,

here's U.S. trade representative Jameson Greer on CNBC. Tariffs is just in the long line of tradition of presidents using American geopolitical power to achieve American geopolitical goals. And so I'll continue working with the president on whatever he needs to do on that front. Precious metals like gold and silver are near record highs. MKS Pamps Nikki Shields tells CNBC medals may have some pullbacks in their prices. But overall long term, they are going up. You know, copper, platinum, palladium, silver, it's a critical metal. a lot of those stockpiles are sitting in the U.S., which is unavailable for the rest of the world.

They're all used in the energy transition into the AI economy. It's a supply-sout story, right? So you've underinvested in these critical metals for the past 10 years, and you just can't build a mine overnight. Investors want scarcity, and they want assets with utility. So that, you know, copper-fittable, silver-fittable, platinum-fitzable, it's just ramping up. Would be car buyers may be out looking at new vehicles over the long. Martin Luther King holiday weekend, but wow, look at those prices. Sticker shock, the average price paid is for a new vehicle right now. This is according to Cox Automotive, $50,326. That is an all-time

high. The average monthly payment, according to Edmonds right now, is $781. You really want to be surprised? Look at the percentage of auto loans that include a monthly payment of at least $1,000, if not more. One out of every five. auto loans, according to Edmonds, has a monthly payment of at least $1,000. And for the Trump administration, they've heard the complaints, wait a second, it's too expensive to buy a new vehicle. Heck, use vehicle prices are close to a record high as well. And so this is the beginning of their efforts to say, look, we need to make vehicles more affordable. The big question is, what does the Trump administration want from the auto industry?

Are they looking to mandate a certain number of vehicles are sold at a certain price point? see Phil Leboe. On the coming weeks watch list after the holiday Monday business and world leaders are in Davos, Switzerland for the World Economic Forum next week. Netflix will start off some big tech earnings on Tuesday. Jessica Eddinger, CNBC. Breaking earnings news. Market reaction this week on CNBC and streaming on CNBC Plus.