CNBC Business News Update - Market Close: Stocks Mixed, Nasdaq Notches 5th Straight Record High, Consumer Sentiment Lower Again 9/12/25

Episode Date: September 12, 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 Monday morning after a winning week for the major averages. Friday record highs intraday for the S&P 500 index and at the close for the NASDAQ. It was that index's fifth straight record high close. The Dow pulled back on Friday despite notching a winning week. It was down 273 points led lower by shares of Merck down more than 2%. The S&P 500 index closed lower on Friday, down three points. The NASDAQ was up 98 points, four-tenths of a percent. InVIDIA shares were up three-tenths of a percent on Friday.

Companies who shares hit fresh record highs on Friday include Ticketmaster Parent Live Nation, O'Reilly Auto, J.P. Morgan, General Dynamics, L3 Harris, and Lamb Research. Consumers aren't so happy. Consumer confidence tanked again. University of Michigan's sentiment, 55.4 in headline. We're expecting the number well north of that and lowest since May of 25. So there's your weak consumer confidence. CNBC's Rick Santelli. Here's more from CNBC's Sarah Eisen.

Just a little more color on that dip in sentiment, Rick just reported, according to the University of Michigan, particularly a strong dip from lower and middle-income consumers. According to the survey, consumers continue to note multiple vulnerabilities in the economy, rising risk to business conditions, labor markets, and inflation. Inflation is now sitting up near 3% rising to its highest since January hitting Americans in their wallets. Meantime holiday sales are forecast to grow the smallest this year in the last seven years. Sales often grow because items are just more expensive than in previous years. Deloitte is already forecasting holiday sales will grow between 2.9 and 3.4%.

They look at it for November through January. the lowest growth rate since 2018. And at the low end of that range, of course, is only slightly better than inflation. Consumers are telling PWC. So this is a survey that they expect to spend 5% less this holiday season over last year. And this is the first year-over-year drop in that survey since 2020. They're spending, they being the consumer, but doing so maybe carefully when they think it's worth it. CNBC's Courtney Reagan. Pfizer and Moderna shares dropped Friday on a report the Trump administration will link child deaths to COVID vaccines. Stalantis-owned ram trucks says it's not building an all-electric RAM pickup anymore to compete with the Ford F-150 Lightning.

Stalantis and by extension, it's U.S. arm RAM dialing back their plans when it comes to electric vehicles confirming that they are not going to be building a pure electric RAM-1500 with the RAM charger. They are continuing with their development and plans to build a RAM, an extended range electric vehicle, another version of a hybrid vehicle, basically a gas power generator on board, and the range is going to be enormous if this meets the expectations. CNBC's Phil LeBoe. On the coming week's watch list, the final week of summer trading begins on Monday. We get retail sales numbers for August on Tuesday. Investors want that interest rate cut by the Fed on Wednesday. and earnings coming during the week from FedEx, Cracker Barrel,

olive garden, parent, Darden restaurants, and home builder Lenar. Jessica Eddinger, CNBC. You can stream squat box. Stream squawk on the street. If you can't catch fast money in real time, watch us later on CNBC Plus. Start streaming at CNBC.com slash plus.