CNBC Business News Update - Market Close: Stocks Mixed Friday, May Was A Winning Month For The Major Averages, Stocks Flat For The Year 5/30/25

Episode Date: May 30, 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 Monday morning for the first day of June trading after a mixed Friday to wrap up May trading. The Dow up 54 points, led higher by shares of Walmart up one and a half percent. The S&P 500 index was down a half point and the NASDAQ was down 62 points. A winning month of May is in the books, the S&P 500's best month in fact in two years, but for 2025 stocks are pretty flat. In May Bitcoin rose 11% on Friday around $1,100. Coffee prices fell the most in two and a half years in May while gold had its first down month in the last five. U.S. crude oil rose the most in May for any month this year. Investors are watching for any movement on trade with China

after President Trump reportedly called for new tech sanctions on that country and China called out Trump for what it calls abuse of chip exports. JPMorgan's CEO talked about China at the Reagan National Economic Summit on Friday. I just got back from China last week. They're not scared, folks. This notion that they're going to come bow to America, I wouldn't count on that. And when they have a problem, they

put 100,000 engineers on it. And they've been preparing for this for years. And Diamond added this about a trade deal with China. When we do these trade agreements, the most important part is not making T-shirts or sneakers. It should be the stuff that relates to national security. We shouldn't be stockpiling Bitcoin. We should be stockpiling guns, tanks, planes, drones, you know, rare earths. You know, the military guys tell you that, you know, if there's a war in the South China Sea, we have missiles for seven days.

OK, come on. I mean, we can't say that with a straight face and think that's okay. JP Morgan's CEO, Jamie Dimon. President Trump says Elon Musk is not really leaving the administration, although Friday was his last official day as a special government employee.

Many of the Doge people, Elon are staying behind too, so they're not leaving. And Elon's really not leaving. He's going to be back and forth, I think. I have a feeling. The president also praised several CNBC anchors in the Oval Office. Numbers have just come out, which are rather extraordinary. And I thought I'd play a tape of one of the people who I've respected over the years,

you know, Joe Kiernan and Rick Santelli. Personal income is up eight-tenths,s, up 8 tenths of a percent. That is almost triple the expectations. The income, the income numbers really for the first four months of the year, they're stellar. The inflation rate for April hit 2.1 percent in the new PCE report on personal consumption expenditures. That's lower than expected, but economists warn it's backward looking. We're talking about inflation in April. You are gonna start to see some of these impacts down the road.

That's why you're seeing Walmart tell you that they're gonna have to raise prices. They know they're gonna have to do that this summer because the cost of importing has gone up very significantly for them. Yale School of Management's Natasha Sarin on CNBC. Costco shares popping about 4% Friday. On strong quarterly results, the chain did a front run ahead

of the tariffs by bringing in more products. You've heard from all the retailers. They're doing what they can. They've already moved largely out of China. They're trying to mitigate and cut costs elsewhere. But there's little you can do. You've got the 30% tariff from China, and you've got 10% from elsewhere. But you know, there's little you can do. You've got the 30% terror from China and you've got 10% from elsewhere. Second half of the year, most retailers are warning. We're gonna get hit here. That's SW retail

advisers President Stacy with let's on CNBC on Monday's watch list. We get one big earnings report. It's from Campbell's Jessica Edinger CNBC. When you're Steph Curry, there's brand value there. There's brand awareness. Campbell's Jessica Edinger CNBC.