CNBC Business News Update - Market Close: Stocks Mixed, Some Investors Banking On Seasonality, AI Stock Debate 11/11/25

Episode Date: November 11, 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 and reported by CNBC's Jessica Ettinger. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

I'm Jessica Eddinger, CNBC. Wall Street opens Wednesday morning after a mixed Tuesday for the markets. The Dow closing at a fresh record high, its third winning day in a row, the longest winning streak for the Dow since before Halloween. It was up 559 points more than 1% led higher by shares of drug maker Merck, which were up almost 5%. The S&P 500 index finished Tuesday in the green, up 14 points. The NASDAQ was down 58 points. Shears of InVIDIA were down almost 3% on Tuesday. Seasonality plays a very big important part right now. Between now and the end of the year, on average fourth quarter grows 8.5% cumulatively.

You want to be long, you want to be buying the dips, and that's what I was doing last week. High Towers, Stephanie Link on CNBC. Big Short investor, Michael Burry, has been accusing. AI hyper-scalers of artificially boosting their earnings. The conversation is now shifting from these stocks who are in a bubble because they're expensive to these businesses are doing something that is deceptive to investors. I think for most people, that's a bridge too far. They're not hiding their numbers.

They're just accounting for depreciation of some of the CAPEX spending that they're doing. Ritt Holtz-Welts, Josh Brown on CNBC, you can get his full comments on CNBC.com. House members scrambling to get to Washington, D.C., so they can vote on the bill to end the government shutdown that the Senate passed. Many coming by air. Flights, of course, impacted. The vote is scheduled for Wednesday afternoon. But even then another shutdown looms. A part of this bill will only fund the government until January 30th. And I think it is going to be something to watch to see if we get into a partial shutdown.

that point. CNBC's Emily Wilkins in Washington Airlines are warning that flight cancellations will continue even after the shutdown ends as it takes time to adjust schedules and staffing. The warning comes just two weeks before the busiest travel days ahead of Thanksgiving. I've checked in with the airlines. They are planning to bring back flights as quickly as possible, but think of this like you would see a major storm hitting a couple of metropolitan areas. You just can't snap your fingers and everything goes. back to normal. Let's say theoretically, the government shutdown officially ends Wednesday night. Thursday is still going to be probably a rough day in terms of cancellations. Friday, you start

to see the flights coming back, but it's not going to be a full snapback. It would likely be into the weekend before you could say, okay, we're seeing the scheduling that we saw before the government shutdown. CNBC's Phil LeBoe, holiday spending plans are the lowest on record for American consumers, the average adult will spend about 7% less than last year. The wealthy spending is not going to make up for the low-end pullback. Ours is all holiday spending and travel, on clothes, on parties, on food, the whole thing. And it's expected to be down. When you look at where that is, it's not among the wealthier consumers. It's not among the older consumers. It's among the younger consumers who are cash strapped. That's the conference board's Steve Odland on CNBC.

Wednesday's watch list. Earnings are coming from fan dual parent flutter entertainment. Forbes will release America's top private companies list. The Powerball Jackpot Wednesday night, more than a half billion dollars. Jessica Ettinger, CNBC. CNBC is the network for ambitious people.