CNBC Business News Update - Market Close: Stocks Mixed, Dow Swings From New High To Down 466 Pts, Trump To Ban Large Investor Home Purchases 1/7/26

Episode Date: January 7, 2026

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I'm Jessica Eddinger, CNBC. Wall Street opens Thursday morning after a mixed Wednesday on Wall Street as the S&P 500 index pulls back from a record high. The Dow fell 466 points, 1% Caterpillar shares tanking 4% dragging the Dow lower. The S&P 500 index hit an intraday record high, then closed down 23 points. The NASDAQ was in the green on Wednesday up 37 points. Shares of Nvidia added 1%. Companies whose shares hit fresh all-time highs Wednesday include Expedia, Hilton, Alta Beauty, Eli Lilly, and United Airlines. President Trump says he'll ban large investors from buying homes and turning them into rentals. Shares of big home builders took a hit Wednesday. President Trump posted on social media that record high inflation has pushed Americans out of the dream.

of homeownership. It is for that reason, he said, and much more, that I am immediately taking steps to ban large institutional investors from buying more single-family homes. Now, large institutional investors, it should be known, own roughly 3% of single-family rental homes. They are concentrated in certain markets, which can push buyers out. But the vast majority of rental homes are owned by small to mid-sized landlords. Jared Seaberg of TD Cowan put out a note saying, this is an indicator of how worried Team Trump is about the impact of housing affordability on the midterm election. That's CNBC's Diana Ollick. President Trump with another declaration to speed up missile and weapons production for the U.S. banning executives at

companies that build such equipment from earning more than $5 million a year in salary. The president just posting on social media targeting defense contractors saying he wants military equipment for the United States and its allies produced in larger numbers and much faster the president says in order to do that he's going to ban stock buybacks and is going to limit executive compensation for defense firms and military equipment is not being made fast enough the executives of the defense companies are simply making too much money he says no executives should be allowed to make in excess of five million dollars which as high as it sounds is a mere fraction of what they're making now cnbc's a man javers jp morgan chase reached a deal to become the apple

credit card issuer. This is from a source talking to CNBC. Venezuela will ship sanctioned oil to the U.S. indefinitely, according to sources. This, as U.S. forces, seized a full oil tanker linked to Venezuela that reflagged for Russia and tried to escape a blockade in the Atlantic. More data suggesting the U.S. job markets getting weaker. The Joltz report on job opportunity and labor turnover for November found a big drop in job openings. Job openings? Job openings? Expecting the number around 7.6 million, buckle up. 7,146,000, a huge miss. That would be the smallest jobs openings since the end of 2020.

CNBC's Rick Santelli. Fewer jobs than expected were created in the U.S. in December, in the new numbers from payroll firm ADP at 41,000. On Thursday's watch list, we find out how many people applied for unemployment benefits last week. The Challenger Gray and Christmas job cuts report will be out. We get the latest on consumer credit from the New York Fed and new data on productivity. And the college football playoff semifinals kickoff Thursday night with Miami and Ole Miss in the Fiesta Bowl. Jessica Eddinger, CNBC, live ambitiously.