CNBC Business News Update - Market Close: Stocks Mixed, Dow Hit Intraday Record High, Builders Started More Rental Properties Than Single Family Homes 8/19/25

Episode Date: August 19, 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 Eddinger, CNBC. Wall Street opens Wednesday morning after a mixed day for the major averages. The Dow finished in the green up 10 points and it hit an intraday record high on Tuesday. The Dow was led higher by Home Depot shares up 3%. The S&P 500 index was in the red, down 37 points, a half percent. The NASDAQ fell 314 points, almost 1.5 percent. InVIDIA shares were down 3.5% on Tuesday. Companies who shares hit fresh all-time highs include Ticketmaster Parent Live Nation, AutoZone, Quest Diagnostics, and Fastenol. President Trump sparking new tariff and inflation fears by expanding the 50% tariff on aluminum and steel coming into the U.S. to

more than 400 different product types, including car parts, plastics, and specialty chemicals. Economists immediately warned that the new levies could further strain the U.S. supply chain and raise prices even higher for consumers. The FTC is suing ticket reseller key investment group, which it says used multiple fake ticket master accounts to buy up Taylor Swift and Bruce Springsteen tickets, to name a few, only to resell them at highly inflated prices. When artists price their tickets, they price them way below what they could actually command in the marketplace, and they do that. in order to allow their fans to have access to their concerts, to let everyone have a shot to come to their concerts. And so Congress passed a law that said, look, when artists do this, we don't want people defeating security measures to buy tons of tickets to take them out of the consumer market, put them on the resale market, and then jack up the prices.

Federal Trade Commission Chairman Andrew Ferguson on CNBC. Baltimore-based key investment group denies it did anything wrong. Deadline is reporting that the lawsuit will say Key bought nearly 400,000 concert tickets for various shows for nearly $57 million, then resold most of them, profiting by about $7 million over just a 13-month period. The U.S. needs more homes, but July housing starts numbers show the builders are starting to put up far more apartments. It's multifamily. When you break out the single family versus multifamily in July housing. starts. Multifamily is the clear driver up 11.6% month to month, up 27% year over year. Single family up 2.8% for the month. Why is multifamily driving when we know in the last

couple of years we have seen a really historic supply of multifamily units come onto the market? The reason is demand. It is still strong and we're seeing rent start to turn higher again. Also, why? Because people aren't buying homes. So they either stay in their rentals or new household formation is rental formation. NBC's Diana Oleg. Starbucks announced a company-wide pay raise for salaried employees below the rate of inflation as the company tries to get a handle on costs. Inflation in the U.S. is running at 2.7% in the latest CPI data. All salaried employees in North America will get a 2% raise this year. Now previous pay increases, those were left up to a manager to decide and the move will help keep a lid on some costs. in CEO Brian Nichols' turnaround efforts. CNBC's Silvana now.

On Wednesday's watch list, earnings are coming from Target Lowe's and T.J. Max and Marshall's parent TJX companies. The Powerball Jackpot Wednesday night? Well, more than a half billion dollars at $643 million. Jessica Eddinger, CNBC. Breaking earnings news. This week on CNBC and streaming on CNBC Plus.