CNBC Business News Update - Market Close: Stocks Mixed, Walmart Warned Higher Prices Are Coming, More People Applied For Unemployment Benefits Last Week 5/15/25

Episode Date: May 15, 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 Friday morning after a mixed Thursday for stocks. The Dow higher up 271 points adding more than a half percent. It was led higher by Cisco whose shares were up almost five percent. The S&P 500 index adding 24 points, four tenths of one percent. It was the NASDAQ that was in the red, down 34. Nvidia shares were lower, down 3 tenths of 1%. The S&P 500 index now riding a four-day winning streak. Companies who shares at fresh all-time highs today include Tractor Maker, Deere, Netflix, and TJ Maxx and Marshall's parent TJX companies.

Walmart is warning it might be raising prices because of tariffs in the next two weeks. Here's Executive Vice President John David Rainey on CNBC. We're wired to keep prices low for customers. But the level of tariffs that have been proposed is pretty challenging for all retailers, for suppliers and certainly our concern is that consumers are going to feel some of that. And here's CNBC's Carl Quintanilla, Jim Kramer and David Faber. CFO tells CNBC the tariffs are still too high and as a result price hikes could begin later this month.

Jim told Courtney Reagan these tariffs, the magnitude is more than any retailer can absorb, more than any supplier can absorb. They have a very conservative management team. If they're complaining, can you imagine what the other guys are looking like? I mean, they're going to be able to hold the line better than anyone with the possible exception of Costco. Fact is, is that if anyone can hold the prices down, it's going to be Walmart. Absolutely true.

They're going to be hoping to downplay them more than everybody else. Absolutely true. More people applied for unemployment benefits last week than expected. The continuing claims number also higher, suggesting it's taking people who are getting those jobless benefits longer to find their next job. Retail sales for April, not so hot. Retail sales and what it says about the consumer,

which was not great. Retail sales only grew 0.1%. Big step down than what we got in March. But perhaps not surprising because March, remember, everyone was front running the tariffs. So than what we got in March. But perhaps not surprising because March remember, everyone was front running the tariffs. So auto sales really jumped in March. If you look at where the weakness was in terms of spending, sporting goods, hobby bookstores down 2.5%,

big drop for the month. Department stores got hit down 1.4%. We know gas stations were weak. It's not the strongest vote of confidence in consumer. CNBC's Sarah Eisen. Home builders not optimistic about their new construction housing business sentiment is at its lowest in three years.

Builder sentiment in May fell sharply on the NIHB's index. Builders cite growing uncertainties stemming from elevated interest rates, tariff concerns, building material cost uncertainty, and the cloudy economic outlook. coming from elevated int concerns, building materi cloudy economic outlook. reported difficulties pri uncertainty around materi

cut home prices in May. T in April and the highest 2023 CNBC's Diana Olek on Friday's watchlist. We get another read on the housing market with housing starts and building permits numbers. We find out how executives are feeling about the economy with the business leaders survey. The WNBA season begins and it'll be round two of the PGA championship in Charlotte. Jessica Edinger CNBC. You come

to my show and you learn how to do stocks. Mad Money,