CNBC Business News Update - Market Close: Stocks Mixed, New Highs For the S&P 500 Index and the Nasdaq, Meme Stock Mania Continues 7/24/25

Episode Date: July 24, 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 Friday morning after a mixed Thursday for stocks. The S&P 500 index and the NASDAQ each notched fresh all-time highs. The Dow down 316 points on Thursday. Three quarters of a percent dragged lower by shares of IBM which tanked more than seven and a half percent on disappointing quarterly results. which ragged lower by shares of IBM, which tanked more than 7 1⁄2% on disappointing quarterly results. The S&P 500 index was up four points

and the NASDAQ up 37 points. Nvidia shares were up 1 3⁄4% on Thursday. With actress Sydney Sweeney about to do an ad campaign for clothing chain American Eagle Outfitters, it's entered the meme stock craze today. GoPro, Krispy Kreme, Coles all have been in that meme mix as well. They're

starting to see meme stock action. That's typically a sign of a frothy market and also where do you go from here? You haven't been part of this tide. You know, do you invest now? I think it's really a tough time. Just put new cash to work.

BD8 capitals Barbara Duran on CNBC. American Airlines had a strong quarter, but its forecast is mixed and it's all about consumers uncertain about spending their money on plane tickets. It really is just getting the consumer back in the game. The uncertainty that we had seen, certainly in the second quarter, really still impacted July to a great extent. We've got that on the books today. So we know what July is shaping up to be. It's not a great extent. We've got that on the books today. So we know what July is shaping up to be.

That's not a great month. American Airlines CEO Robert Isom on CNBC. Southwest Airlines had a tough quarter, but it's about to join the big carriers by getting rid of open seating. It will start selling assigned seats next Tuesday, which will cost flyers more and generate new revenue for the airline.

CNBC's Phil LeBeau spoke with Southwest CEO, Bob Jordan. Consumers want this. So more than 80% of our customers, 85% of customers that don't fly Southwest Airlines want a signed seating. They want extra legroom options. But actually it goes on sale July the 29th. It's for flights that operate in January of next year.

Tesla shares struggled Thursday, but one Tesla investor remains bullish. Calling Tesla a car company now, I think, is overrated. Just like calling an Apple a computer company back in the day turned out to be overrated. Nvidia, a gaming company back in the day, overrated. Amazon, a bookseller. History is filled with examples that are not obvious

until after the fact. I think that's what we're dealing with with Tesla and I hope that my confidence is not misplaced. That's the Fitzgerald Group's Keith Fitzgerald on CNBC. Chipotle shares had a hard time Thursday. Chipotle has lost a quarter of its value so far this year. The chain raised prices and sales originally held, but then consumers started closing their wallets.

Apple released a public preview of its updated operating system, iOS 26, the biggest software redesigned since 2013. To try it, you can register on the Apple website. On Friday's watch list, earnings are coming from AutoNation, Phillips 66, and Charter Communications. We get new durable goods orders numbers. These are things made to last a long time, like cars and washing machines. And new in theaters Friday, Disney's reboot of Marvel's The Fantastic Four.

Jessica Edinger, CNBC. Breaking earnings news. This week on CNBC and streaming on CNBC Plus.