CNBC Business News Update - Market Close: Stocks Mixed, United Health Drops 17%, Saudi Arabia To Invest $600 Billion In The U.S. 5/13/25

Episode Date: May 13, 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 Wednesday morning after a mixed Tuesday for stocks inflation rose less than expected in April but the Dow struggled because the CEO of United Health surprised investors by stepping down its shares tanked the Dow on Tuesday down 269 points half a percent led lower by United Health shares down almost 18%. The S&P 500 index was up 42 points. The NASDAQ up 301 points. That was one and a half percent. If you have an account with an S&P 500 index fund in it, you're back where you were at the beginning of the year. The S&P 500 index has recovered all of its losses for the past five and a half months.

This is the best comeback from a 20% decline in the S and P 500 except for the 2019 example. It's hard to expect us to keep going up at this angle. However, anything could happen. CNBC's Mike Santoli. Companies who shares at fresh all-time highs on Tuesday include NRG, Discover, MasterCard, Uber, TJ Maxx and Marshall's parent TJX companies. President Trump is in Saudi Arabia for a business summit and the White House announced a 600 billion dollar investment in the United States by the kingdom. President Trump sends a message as you've been covering,

with this whole notion that his first overseas trip is about business. And that is not normal for an American president. Express some skepticism about how much cash the Saudis really have to sprinkle all over the planet. On the other hand, it can't be bad to have one of the world's richest economies in terms of oil revenue interested in some new investments

in the United States. The Brookings Institution's Michael O'Hanlon on CNBC. More deals were announced in Saudi Arabia. Elon Musk's Starlink satellite-based internet connection service has been approved to provide aviation and maritime connection in the kingdom. NVIDIA is sending 18,000 of its best AI chips to Saudi Arabia. In addition, Syria is getting a fresh start from the United States. The president of the United States is saying he's going to lift US sanctions on Syria

at the request of Crown Prince Mohammed bin Salman to give the new insurgent government in Syria, which pushed out the Assad regime earlier this year, a fresh slate. It's that time to shine. We're taking them all off. And if I say good luck, Syria, show us something very special. The new de facto president of that country is somebody who was a member of al-Qaeda in Iraq and was taken custody by U.S. military and held for a number of years and now is leading a country that's just been given a blank slate by the United States government. CNBC's Eamon Javers. A load of job cuts

were announced. Microsoft cutting 3% of its workforce or nearly 7000 people. Nissan cutting 20,000 jobs globally. CNN says it's double the number that was first announced last week. Cybersecurity software provider CrowdStrike announced it would cut 5% of its workforce. Boeing delivered more airplanes in April, nearly double the number completed and delivered in March. Stocks above 200 at a 52-week high. The reason we got April orders and deliveries, and these were not spectacular numbers, but they were solid numbers and they continue to show progress. And that's what investors want right now. For the month, they delivered 45 airplanes, two to Chinese airlines. They are reportedly

now back in the mood to take Boeing aircraft. CNBC's Phil LeBeau. And on Wednesday's watch list, we get earnings from Sony, Burberry, Cisco Systems, and Jack in the Box. The NFL releases the schedule for the 25-26 season Wednesday night. Amazon's two-day pet day sale will end. Jessica Ettinger, CNBC. You come to my show and you learn how to do stocks. Mad Money, weeknight 6 Eastern, CNBC.