CNBC Business News Update - Market Close: Stocks Lower, Tesla With Mixed Results, Gold Pulls Back 10/22/25

Episode Date: October 22, 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 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 Thursday morning after a down day for stocks, investors with fresh worries about President Trump's trade war with China. The Dow down 334 points, 3 quarters percent, led lower by shares of Salesforce, which were down 2.5%. The S&P 500 index fell 35 points. That was a half percent. The NASDAQ down 213 points, almost 1%. NVIDIA shares fell on Wednesday. They were down about a half a percent. Some investors are very optimistic overall. The labor market is weak, yes.

We haven't had data in a while, but we know that. The reality, though, is still a bull market. Still pretty optimistic, we're going to see a pretty good-sized fourth quarter rally and all of a sudden done, and just enjoy this strong running season. Carson Groups Ryan Dietrich on CNBC. Tesla would mixed and for some disappointing quarterly results after the closing bell Wednesday. This while the take-back Tesla campaign is gaining steam, urging Tesla shareholders to reject the $1 trillion pay plan for Elon Musk. Meantime, one expert tells CNBC that Tesla, which is trading at about 50 times earnings, has a lot of work to do to justify that valuation.

I'm not sure this new $37,000 vehicles enough with Volkswagen, B-Y-D, others coming out with $30,000 cars, Hyundai right behind him. You need a $30,000 car. Now, you've got to make that full self-driving car work a little bit better to be competitive for the Waymo, and you have to start selling the optimist robots. They're going to have a lot of work to do. Former Tesla board member Steve Wesley on CNBC. Gold pulled back on Wednesday on pace for its first negative week in the last 10, but year-to-date gold is still more than 50% higher. Gold, talk about momentum coming off the boil. What's happening with gold, obviously you've got a lot of fast money chasing that last leg of the rallying gold.

all kinds of rationales, logical ones, for why gold has been going up to some degree, but the last acceleration higher clearly created this sort of unstable momentum situation. Now we are unspooling that at least a little bit. CNBC's Mike Santoli on Wednesday, gold at $4,122 an ounce. Facebook parent meta cutting 600 jobs, mostly in AI. Charter communications cutting 1,200 jobs. says most of those in the back office and at the corporate level.

While the news headlines about Warner Brothers Discovery highlight the company putting itself up for sale, it quietly raised prices on all of its HBO Max plans effective immediately. Variety says that HBO Max Basic with ads

now costs a dollar a month more up to $11 a month. HBO Max premium, which has no ads, and you can watch four devices at the same time, it goes up $2 a month to $23 a month. Americans are watching their wallets and choosing to vacation in spots. They can drive to.

Demands stayed fairly consistently regional. We saw a demand this summer in the Smoky Mountains of Tennessee. It's a regional drive from the Mid-Atlantic and Midwest. It may say a little bit toward hesitancy that's often talked about with the consumer that they're choosing to drive to versus these. mid-to-long-haul fly destinations. That's Travel and Leisure is Mike Brown on CNBC. On Thursday's watch list, more earnings from Southwest and Alaska Airlines,

Blackstone, Ford, Intel, Dow, T-Mobile, Tractor Supply, Jessica Ettinger, CNBC. The president's latest, I swear, is watching. Squawk Box, 6 a.m. Eastern and streaming on CNBC Plus.