CNBC Business News Update - Market Close: Stocks Lower, Newly Built Home Sales Soared In August, Honda Ending Production Of Acura ZDX EV 9/24/25

Episode Date: September 24, 2025

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I'm Jessica Eddinger, CNBC. Wall Street opens Thursday morning after the markets pulled back from record highs. They finished modestly lower on Wednesday. The Dow was down 171 points, about 4 tenths of a percent, led lower by shares of drug maker Amgen, which were down 2.5%. The S&P 500 index lost 18 points. The NASDAQ was down 75 points. InVIDIA shares were lower by 8 tenths of one percent. Disney shares were in the green on Wednesday, up more than 1% after its ABC TV network brought back Jimmy Kimmel Live on Tuesday night.

Gold retreated from its all-time high. The NFL's approved the sale of a stake in the Chicago Bears. The deal values the team at almost $9 billion. The home builders sold a lot of newly built homes last month. New home sales soared 20% in August to a three-year high. Home builders cut their prices and brought down mortgage rates for buyers. Really quite something, 800,000 up 20% month to month in August. These numbers are based on sign contracts, so people out shopping in August,

when the 30-year fix had not started its steep drop that we saw in September. So it was well over the high 6% range. So this is a surprise. Linar's earnings last week, they said they're doing price cuts. They're doing mortgage rate buy-downs and other incentives. The price of a new home sold was $413,500. this is 4.7% above July. It is a real surprise to see prices go up as well as sales go up. Builders obviously making the push to get people in the door. CNBC's Diana Oleg. Today, the average rate

on a 30-year home loan is now back up to almost 6.4% according to Mortgage News Daily. The NFL already looking at getting more money for the media rights to its games looking to renegotiate next year instead of in three years. Here's CNBC. Alex Sherman. The opt-out is not until the end of the 2029-30 season. So that is when the NFL theoretically could get out of its current existing media contracts with Paramount, which owns CBS, our own parent company, which owns NBC Universal, Disney, Amazon, Fox. From the league's perspective, they have seen recent sports media rights deals out there, the NBA, the NHL come to mind that have gotten huge annual revenue increases. From the media company's standpoint, if they

could do a deal earlier and lock up a few more years of NFL football and maybe in effect box out some of the big tech companies that may want in, that I think would be something that the media companies would want quite a bit. Honda ending production of the Accura EV assembled by GM in the U.S., the Accura ZDX, and EVs in general are facing lower demand. Production of that vehicle for the 2026 model year was supposed to start this month at GM's Spring Hill Assembly plant in Tennessee. Target opened its seasonal hiring portal Tuesday for people looking for holiday work. While a new report finds that overall seasonal retail hiring could fall this year to its lowest level since 2009, placement firm Challenger Gray and Christmas says by this time

last year, Target, Macy's Burlington, Aldi, and Moore had already announced the number of seasonal workers they planned to hire, but this year it's much slower. On Thursday's watch list, earnings are coming from a biggie, Costco. We get durable goods orders numbers and a fresh read on U.S. economic growth with GDP numbers, gross domestic product. We also find out how many people applied for unemployment benefits last week. Jessica Ettinger, CNBC. CNBC is the network for ambitious people.