CNBC Business News Update - Market Close: Stocks Mixed, The Fed Cut Interest Rates As Expected, Amazon's October Holiday Kickoff Sale Set 9/17/25

Episode Date: September 17, 2025

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I'm Jessica Eddinger, CNBC. Wall Street opens Thursday morning after the Fed cut interest rates, as was expected by a quarter percentage point on Wednesday. The Fed sees two more cuts this year, but only one for next year. That's a little more conservative than had been expected. The Dow was up 260 points, a half percent. American Express shares let it higher up almost 3%. The S&P 500 index was in the red down six points,

NASDAQ fell 72 points. Companies who shares hit fresh all-time highs on Wednesday include American Express, Walmart, Monster Beverage, Goldman Sachs, JP Morgan, and Caterpillar, which issued its first shares back in 1929. The Fed cut interest rates for the first time this year. Federal Reserve cutting interest rates by a quarter point as expected. Downside risk to employment has risen. Job gains have slowed.

Unemployment has edged up. and the economic activity has moderated. The statement does note that inflation has moved up and remains somewhat elevated. CNBC senior economics reporter Steve Leesman. With the rate cut, credit card users will pay very slightly less in interest on balances they carry. Savers will earn slightly less on money and high-yield savings or money market accounts. Consumer discretionaries, your best buys, your home depots, Ford, GM. Anything that you will finance will do better with lower rates.

That's Grasso Global's Steve Grasso on CNBC. For some economists, the Fed vote is a sign. Back to only go one dissent to this decision, makes me more confident that all this talk about not reappointing the Fed presidents. That's not going to happen. The Fed as an institution has a lot of strength if it holds together, and I think it will maintain its independence. J.P. Morgan's David Kelly on CNBC.

The U.S. is short. an estimated seven million homes, but the home builders are sitting on a large number of brand new, completed homes sitting unsold, because people just can't afford them. Building starts came in below estimates for August. The builders started work on fewer new homes, and they're cutting prices on the ones that are all done. Housing's not going to turn on a dime because we have this huge buildup and inventories of new homes, and that's the highest it's been since 2007.

And so they need sales to pick up so that we can clear out some needs. inventory. We need to find balance. I mean, there are essentially cuts taking place and that you are seeing that the builders are buying down mortgages still and they're offering incentives. Piedmont Crescent Capitals Mark Vintner on CNBC. Invidia, CEO Jensen Wong, says he's disappointed about a financial times report that says China has banned its AI chips and tech companies in that country. China's president and President Trump are supposed to have a phone call on Friday. Amazon's Prime Big Deal Days event set for Next month, they're setting up holiday shopping earlier again this year.

It's designed to get the holidays going well ahead of the old traditional start of Black Friday the day after Thanksgiving. The Amazon Prime sale is set for October 7th and 8th. Subway's Fresh Fit menu is back with all six-inch subs under 500 calories. On Thursday's watch list, we get earnings from FedEx, Olive Garden Parent, Darden Restaurants, home builder, Linar, and Scholastic. We find out how many people apply for unemployment. benefits last week. American Express is expected to announce new higher annual fees for its cards and a refresh. And Thursday is National Cheeseburger Day with deals and discounts at various chains. Jessica Eddinger, CNBC. Get exclusive reporting and data on high net worth investors,

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