CNBC Business News Update - Market Close: Stocks Mixed, Nvidia Shares Hit Fresh All Time High, Newly Built Home Sales Tanked Last Month 6/25/25

Episode Date: June 25, 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 Thursday morning after a mixed Wednesday for stocks felt a little more settled for investors after wild swings over the past week. The Dow fell 106 points a quarter percent, led lower by shares of McDonald's, which were down 2 percent. The S&P 500 index was unchanged. The NASdaq was in the green, up 61 points, a third of a percent. Nvidia shares were up more than 4 percent and they hit a fresh record high along with Netflix, Broadcom, CrowdStrike, Palantir, Oracle and Microsoft too. It's not about tech versus everything else, but it is large cap quality. There's no doubt that most you know, most of what

the market is doing is an endorsement of the bull trend. That's CNBC's Mike Santoli. Federal Reserve Chair Jerome Powell testified to the Senate Banking Committee on Wednesday. It was his second day on Capitol Hill. He expects central bank officials to remain on hold before making any interest rate cuts to see the impact of President Trump's tariffs on prices. All of this reminds me of, you know, when you have those little balloons you used to hit as a kid and they would go down, then they'd come back up. They say inflation is low and power goes down and comes back up.

Yeah, wait and see. And they say deregulation and he goes back down, comes back up, he goes, wait and see. And they say deregulation. And he goes back down, comes back up, he goes, wait and see. Mostly Republicans trying to hit him with this idea that you can cut rates. And Powell saying, but tariffs, wait and see. And probably, I don't know, at this point, 50 or 60 different ways of him saying the same thing. That's CNBC's Steve Leesman.

Sales of new homes tanked in May. Supply of newly built homes just sitting there waiting to be sold is at a three-year high right now. Sales of newly built homes dropped nearly 14% in May from April. Now nationally, the median price of a new home sold in May was $426,600, an increase of 3% year over year. Slower sales, though, resulted in a significant bump higher in supply.

We ended May with a 9.8-month supply. As for new homes, Lennar was cutting prices. KB Home, prices were a little higher. But remember, builders are doing all kinds of incentives

and still buying down those mortgage rates in order to get buyers in. That's CNBC's Diana Olek. Steel from Mexico could get cheaper, especially good for US car makers. President Trump may do a U-turn on some of his threatened tariffs.

Well, the US and Mexico are reportedly focusing on possible exemption to reduce tariffs on steel imports. Now, that's according to Bloomberg, which says negotiators are looking at a quota system for Mexican imports of the metal that US automakers and other industries to Bloomberg, which says looking at a quota system of the metal that U.S. Aut industries have called as report adds the move would

a 50% tariffs, but that it a 10% charge CNBC's Sylvan are rushing to take all t items you buy and return and get them resold to try to head off the Trump tariffs. Companies are relying more on what's known as reverse logistics to get returned products back into the marketplace. On Thursday's watch list, we get earnings from Nike. We find out how many people applied for unemployment benefits last week. We get somein find out how many people benefits last week. We ge durable goods orders. The

to last a long time like