CNBC Business News Update - Market Close: Stocks Mixed, Nasdaq Closes At Fresh Record High, President Trump Signs Crypto Bill 7/18/25

Episode Date: July 18, 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 after a mixed week for stocks. The S&P 500 index hit a fresh intraday record high on Friday. The Nasdaq will open at a fresh record high on Monday morning. On Friday the Dow fell 142 points, 3M shares leading it lower down 3%. The S&P 500 index down a half a point. And the NASDAQ was in the red, up 10 points. Nvidia shares fell three tenths of 1% on Friday. Companies whose shares hit fresh all time highs Friday

include Microsoft, 3M, Coach Parent, Tapestry, Royal Caribbean, Southern Company, Charles Schwab, Coinbase, Emerson Electric, Fastenal, RTX Raytheon, Welltower, and Nvidia. President Trump signed the Genius Act on Friday giving cryptocurrency more legitimacy and preventing the Fed from developing its own digital currency.

The president said the US dollar losing its status as the World's Reserve currency would be like losing a world war. But Wharton Finance Professor Jeremy Siegel gave his take to CNBC. What is interesting is actually Bitcoin itself is a threat to the dollar as a reserve currency. Bitcoin actually has the chance to replace dollars and euros to some extent. Some big-name companies are poised to report earnings in the coming week.

We'll hear from Verizon, Domino's on Monday, Coke on Tuesday, which will be a biggie after all the Maha stuff over syrup versus sugar, also Texas Instruments. Alphabet and Tesla report on Wednesday. That'll be a big day for big tech. You'll also get IBM and Southwest. CNBC's Kelly Evans. Americans are less worried about an immediate recession and higher inflation in the new University of Michigan sentiment survey. A good data point on consumer confidence, highest confidence in five months. It jives with the story, which is less bad than feared. When it comes to earnings this week, it's It jives with the story, which is less bad than feared when it comes to earnings this week. It's been the story with the 30%

market rebound from the April lows, so confidence improving and inflation expectations coming down. CNBC Sarah Eisen American Express had a strong quarter as consumers pay those card fees. The annual fee on the American Express Platinum card

right now is $695 a year. Some believe it's going up. AMEX CEO Christof LaCayac telling me that their customers have been quote, amazingly resilient in the second quarter. The company topped estimates for profit and revenue on a 20% jump in card fees. So it's been no secret that affluent Americans

haven't slowed down their spending. There are however interesting trends within the Amex data. Spending on goods and services has held up better than travel spending, which has been slowing down since the start of the year. The biggest soft spot in travel was in airline spending, which was flat, so 0% growth from a year earlier. CNBC banking reporter Hugh Sun. On the coming week's watch list, we get durable goods orders numbers, plus a read on the real

estate market with both existing and newly built home sales. It's a very big week for earnings reports with about 20% of the S&P 500 index companies releasing quarterly results. Jessica Edinger, CNBC. Wednesday, August 6th, join CNBC's virtual small business playbook event, Real World Insights, on navigating volatility and seizing opportunity. Register now at CNBC events dot com slash small biz.