CNBC Business News Update - Market Close: Stocks Mixed, Dow And S&P 500 Index Each Close At Record Highs, Possible Tariff Relief Coming For US Car Makers 10/3/25

Episode Date: October 3, 2025

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I'm Jessica Eddinger, CNBC. Wall Street, with a record setting Friday for stocks, investors shaking off the government shutdown. No September jobs report. The Dow was up 238 points, a half percent, led higher by shares of United Health. And it finished the day at a fresh record high. The Dow also touched 47,000 during the trading day on Friday before pulling back. The S&P 500 index, just about a half a point it qualifies as a fresh record high and the NASDAQ was in the red down 63 points and video shares pulled back by a half percent Friday investors know that tech and AI have been driving the rally but when's it going to end there's going to be a correction even if we're only in the first inning there's just absolutely no way you can have stock prices hundreds of companies all revolving around this theme. You cannot have Empire State Building-esque vertical charts in perpetuity. It's just, it's never happened before, and it won't happen this time.

There is absolutely going to be a reckoning. That's not a reason to not invest, because corrections happen really fast. People don't even get a chance to panic if and when they happen. Ritt Holtz Welts, Josh Brown on CNBC. Gold was above $3,900 an ounce Bitcoin back above $122,000 on Friday, within striking distance of a new all-time high. No September employment report. The Labor Department closed with the shutdown. CNBC, however, did get a snapshot of the jobs picture.

And the National Federation of Independent Business Chief Economist Bill Dunkelberg told CNBC, the small business hiring turned negative last month. We ask each month a whole bunch of firms about the change in their total employment, hiring and firing. Right now we see that there are a lot of firms that have job openings. There are unfortunately very few that get filled. So that leaves us with a negative number for the net increase in employment for the small businesses that we serve. And here's ORA intelligences, Evan Sown, with more jobs data on CNBC. We track job posting data by industry on a week-by-week basis, and we started to see a real

decline across all sectors. So health care is actually down pretty significantly this year. Restaurants, which is really a really good leading indicator of consumer spend, is down pretty drastically in September. So we really saw a pretty gloomy September. U.S. Carmakers' shares popped on Friday on Word. They could get some terror relief, maybe from the White House. There's a report from Reuters, say, quoting the Ohio Senator Bernie Marino, saying that the Trump administration is close to approving or at least advancing the idea of an offset for 26 vehicles assembled in the United States. Since these tariffs were put into a effect. We haven't seen a major auto

plant, auto assembly plant, a supplier plant. Nothing's been announced for the United States. So this is one more way that the Republicans on Capitol Hill are saying we need to do more to reward production here in the U.S. when it comes to the auto industry.

CNBC's Phil LeBoe. On Monday's watch list, earnings are coming from Moldavi wine and Corona Beer Parent Constellation Brands. Coles joins Target with fall early holiday sales. Amazon's begins on Tuesday. McDonald's brings back a digital version Monday of its popular monopoly game,

and Coca-Cola has Diet Coke with Lyme in stores Monday for the first time in seven years. Jessica Eddinger, CNBC. The president's latest, I swear, is watching. Squackbox, 6 a.m. Eastern and streaming on CNBC Plus.