CNBC Business News Update - Market Close: Stocks Mixed, Losing Q1 In The Books, Investors Wait For Trump Tariff Announcement Wednesday 3/31/25

Episode Date: March 31, 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 Tuesday morning for the first day of April trading and the first day of the second quarter of the year. Q1 was a loser with the Dow down 1% the S&P 500 index down 4% the NASDAQ down 10% in the first quarter. Markets were mixed on Monday with the Dow popping 417 points at the close. The S&P 500 index on Monday touched a six month low before recovering, but it just had its first losing first quarter in three years. Impacting Americans retirement accounts, many have their money in S&P 500 index funds.

This seems like an angrier president. I don't get the sense that he's, not only is he not thinking right now about the market, I question whether he's thinking about the people who voted for him. CNBC Mad Money host Jim Cramer. Investors trying to figure out what's actually going to be announced by President Trump on Wednesday, Tariff Day. White House Press Secretary Caroline Levitt told reporters that the president will be announcing the rollback of unfair trade practices Only the president knows what is next but we can expect four pieces to the tariff wave on Wednesday

The still unknown reciprocal tariffs will be rolled out that secondary tariff on buyers of Venezuelan oil will take effect The auto tariffs of course will take effect and the president will decide whether to let the pause on those Canadian and Mexican tariffs expire as scheduled. CNBC's Megan Casella in Washington. Many car showrooms and dealer lots are crowded ahead of the Trump tariffs on cars. People are out now. It's almost like, you know, toilet paper during COVID. Everybody's coming out and trying to trying to buy the pre-tariff cars before they all

disappear. Liberty Subaru of New Jersey owner Rick de Silva on CNBC It's great to see people out buying cars and you know not just kicking tires The downside to that is the business that we're seeing it's not incremental business They were gonna buy a car later on in the spring or in the summer later on in the year But they're seeing all the talk about tariffs and they know they're gonna be paying a lot more if they wait until they're actually ready. Last year, the average new car price was just under $50,000 with a monthly payment of about $780 a month

before insurance, gas, tolls and maintenance. The tariff on a fully imported car will be 25%. United Airlines shares are coming off their worst month in five years. United has lost almost a third of its value in March. Same for American and Delta. Air Canada trimming flights to the U.S. for April. Air Canada, year over year in April, the flights will be down 9 percent. Some have said, well, is that because nobody is booking trips? Well, there may be some influence there in terms of Air Canada flights.

Nine percent, again, is not the end of the world, but it is worth noting, and that's strictly Air Canada. We're not really seeing this drop off with other carriers, the big American carriers in terms of U.S. Canada flights. CNBC's Phil LeBeau. Mortgage company Mr. Cooper Group shares popping. On news, rocket companies is buying it. Rocket shares fell on that news. On Tuesday's watch list, it's the first trading day of the second quarter. We get the latest on job opportunity and labor turnover. We get some manufacturing data and construction spending numbers. Forbes will announce the annual World Billionaires List of the World's Richest People.

And April is Financial Literacy Month. Jessica Ettinger, CNBC. April 8th, join the CNBC Changemakers Summit featuring powerful women transforming and redefining leadership in the world of business. Request an invite at CNBCevents.com slash changemakers.