CNBC Business News Update - Market Close: Stocks Mixed, Netflix Revenue Disappoints, Warner Brothers Discovery Is For Sale, Gold's Worst Day Since 2013 10/21/25

Episode Date: October 21, 2025

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I'm Jessica Ettinger, CNBC. Wall Street opens Wednesday morning after a mixed day for stocks. The Dow setting a record, closing at a fresh record high. It was up 218 points, a half percent, led higher by shares of 3M, which were up more than 7.5 percent. The S&P 500 index and the NASDAQ were basically unchanged. Companies who shares hit fresh all-time highs on Tuesday include Apple, American Express, Ralph Lauren and Raytheon and GE Aerospace. Netflix reported disappointing revenue because of a tax issue in its quarterly results release after the closing bell Tuesday. Shares fell in after hours trading.

Some investors are optimistic, though, over its original movie, K-pop Demon Hunters, which came out in June and became its most popular movie of all time with new deals for toys now with Mattel. I think everybody knows that this was a very good viewing quarter for Netflix. I think the question is like how big of a franchise this could become over time, you know, sequels, other other things you can do with it. Oppenheimer's Jason Helfstein on CNBC. Warner Brothers Discovery shares popped more than 10% Tuesday. It's for sale.

Warner Brothers is putting itself up for sale saying that it will evaluate a broad range of strategic options that obviously will include selling the entire company. It doesn't mean they're abandoning the plan to split the company. They already have in hand a bid from Paramount. But now this will become a sort of a public story, if you will. CNBC's David Faber. Gold had a tough Tuesday, some possible profit taking. Gold's getting hammered. It's the worst day since 2013.

I mean, you don't see gold down 5% that often. Silver is a bigger decline of almost 7%. A lot of froth around the edges. Bank of America talks about that. You can look at gold stocks year to date. Those gains are crazy. DDX up more than 100%. Newmont, up 132, has the run-up in gold been too dramatic.

CNBC's Scott Wapner. General Motors not only beat earnings estimates for the last quarter, but GM also issued a rosy forecast after working with the White House. It's planning on a smaller tariff impact than previously thought. Coca-Cola with strong quarterly results, thanks to people at wealthier income levels. What generally is happening is the Coke trademark is doing well. And then we're gaining in some of the premium segments, particularly the ones where we got great brand strength and new up-and-coming things like Fair Life or even ready to drink

teas, which has grew strongly. For example, in the U.S., the products like Fair Life, Corpower, Top of Chico, Smartwater, the ones that have a slightly higher price than average have been growing faster because they're being bored by the higher income consumers. Coca-Cola CEO James Quincy on CNBC. There's been a little disagreement about where gas prices are right now in the U.S. Gas Buddy says the national average for a gallon of regular hit a four-year low of $3 a gallon. While AAA says gas prices ticked up to 304 a gallon, either way, overall you're paying less at the pump as U.S. crude hovers around $58 a barrel. And that can help the entire economy, although it does hurt big oil with job cuts looming there.

You have oil at $60, which is massively deflationary. What else is cheaper today than it was 10 years ago? Corvex founder, Keith Meister on CNBC. On Wednesday's watch list, earnings are coming from Tesla. Hilton, AT&T, Winnebago, G.E. Vernova and IBM. We find out how many people applied for mortgages last week. Jessica Eddinger, CNBC. CNBC is the network for ambitious people.