CNBC Business News Update - Market Close: Stocks Mixed, S&P 500 Index and Nasdaq Close At New Record Highs, Oracle Soars 36% For Best Day Since 1992 9/10/25

Episode Date: September 10, 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 Thursday morning with the S&P 500 index and the NASDAQ, each at new all-time highs. The Dow was in the red on Wednesday, down 220 points, about a half percent, led lower by shares of Salesforce, down more than 3 percent. Amazon and Apple each dropped more than 3 percent. The S&P 500 index, though, was up 19 points. The NASDAQ was up six points. Nvidia shares closed up 3.8% on Wednesday. Companies whose shares have hit fresh all-time highs on Wednesday include Google Parent Alphabet, Ticketmaster, Parent Live Nation, AutoZone, O'Reilly, Goldman Sachs, Morgan Stanley, Broadcom, and Oracle. Treasury partners Richard Saperstein tells CNBC Sarah Eisenhe's bullish, even with the markets at or near record highs. You know, the market's up 103% over the last five years, and what, earnings are up 95%.

So a little bit stretch on multiples, but we think it's an excellent market to own stocks. Just stay in stocks. Absolutely. Oracle shares gained 36% Wednesday, their best day since 1992, adding $244 billion in value to the company on big revenue gains from its multi-cloud database business. And look who's the richest man in the world now. Oracle's founder and executive chairman. Larry Ellison, of course, owns 1.15 billion shares. And he is now at least at the top of the world's richest list, surpassing Elon Musk.

That's according to Bloomberg, Forbes may take you to a different place. Ellison's fortune, though, growing by more than $100 billion today. $100 billion today. That's the biggest one-day increase ever since they've been. tracking these things, as we like to say. CNBC's David Faber. Klarna debuted on Wall Street at a price of $52 a share, closing down in the 40s. The Buy Now Pay Later company competes directly with banks and credit cards.

CNBC's Andrew Ross Sorkin asked the CEO of Wells Fargo about that. How do you think about the sort of buy now, pay later, and effectively they're trying to compete away some of the legacy businesses? It's competition. It's competition. You know, our view, it's a broad relationship. So it's not just about the credit card loan. It's not just about the mortgage.

It's about all the things that we do. And I think that's, you know, one of the huge benefits that a substantial institution like ours brings. That's Wells Fargo, CEO, Charles Sharf on CNBC and early investors in Klarna include Sequoia. Here's Sequoia partner, Andrew Reed, on CNBC. The traditionalist point of view that credit cards are normal to be accepted everywhere, you can use it for your Uber or your lunch, pile on all into one bill, and heaven forbid you miss a payment, it revolves, and you can get out of control quickly. And yet people think it's funny that you can use Klarna for your DoorDash, single purchase installment,

and you can't lose control like that. Gen Z in particular sees a lot of value in using Klarna as opposed to using the traditional credit card rails. Inflation at the wholesale level for August expected to be higher, but it came in a tick lower. It's food, X energy, X trade, up 2.8. We started the year at 3.5. So these numbers have indeed moderated a bit. CNBC's Rick Santelli on Thursday's watch list. We get the latest on inflation at the consumer level with the CPI, the consumer price index. Earnings are coming from Adobe and Kroger.

And it's the 24th anniversary of the 9-11 terrorist attacks on Thursday morning. The markets will hold moments of silence. Jessica Eddinger, CNBC. Celebrating 30 years of Squatbox and streaming on CNBC Plus.