CNBC Business News Update - Market Close: Stocks Mixed, Amazon Shares Down After Hours On Quarterly Results, January Jobs Report Comes Friday Morning 2/6/25

Episode Date: February 6, 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 by CNBC's Jessica Ettinger.

I'm Jessica Edinger, CNBC. Wall Street opens Friday morning after a mixed day for stocks. The Dow down 125 points, led lower by shares of Honeywell, which were down more than 5%. The S&P 500 index was up 22 points. The Nasdaq also in the green, up 99 points. Nvidia shares were up 3% on Thursday. We have more of this low energy churn. It's definitely not causing any damage inside the market. What stands out is just the almost even

split between things that are up, things that are down, being able to absorb some pretty big adverse earnings reactions. CNBC's Mike Santoli. Companies whose shares hit fresh all-time highs Thursday include Walmart, Cisco, JP Morgan Chase, Goldman Sachs, Netflix, Facebook parent Meta, Hilton, Marriott, Ralph Lauren, Costco, and Olive Garden parent Darden Restaurants. Amazon reported better than expected quarterly results after the closing bell Thursday, but shares ticked lower. It's cloud business. Amazon Web Services came in with 19 percent growth. That was better than forecast. But Amazon says it's facing headwinds this year, like a strong dollar and perhaps the Trump trade war with China. One investor says CEO Andy Jassy, he's been streamlining Amazon. He's been really cleaning up the business. He's let go 27,000 employees over the last two years.

So he's definitely focusing on operating income and margins. Odyssey's Jason Snipe on CNBC. Ford shares hit their lowest in four years on a disappointing forecast for this year related to the Trump trade war. China blacklisted the parent company of Tommy Hilfiger and Calvin Klein. Many investors believe it's part of the Trump trade war. PVH could be forced by the Chinese government to shut down stores there, cease manufacturing and send its employees home. American sports books say it should be a record-breaking year for betting on the Super Bowl. New Orleans is bustling. America's sports books are betting that the wagering this year will set another record. The American Gaming Association estimates $1.39 billion will be bet legally on Sunday's game. Really, sportsbooks are facing an intense field

of competition for gambling dollars. You have CalShee and Crypto.com offering those prediction market trades. There are sweepstakes style gambling and fantasy sports. Around New Orleans, FanDuel has big advertising up blanketing the building. Caesars, of course, has named the Superdome all for one of the best opportunities for customer acquisition all year long. Right now, the Kansas City Chiefs, one and a half point favorites. CNBC's Contessa Brewer in New Orleans. More people than expected applied for unemployment benefits last week. Initial claims, 219,000. It's remained very, very tame. The last time we were back above 250,000,

kind of that psychological area, well, that was in October of 23. This has really, really been an unbelievable long run under 250,000. CNBC's Rick Santelli. We get the government's big January jobs report Friday morning. The unemployment rate is now sitting at 4.1 percent. On Friday's watch list, we also get the consumer credit data about how much people owe on credit cards and other revolving debt. New in theaters, Sony's horror comedy Heart Eyes and Universal's action comedy Love Hurts. Universal is the sister company to CNBC. Jessica Ettinger, CNBC. The Investing Club. We're not about trading. We're about investing.

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