CNBC Business News Update - Market Close: Stocks Modestly Higher, Facebook Parent Meta Winning Streak Ends, Home Builders Spooked By Trump Tariffs 2/18/25

Episode Date: February 18, 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.

Hi, I'm Jessica, editor of CNBC. Wall Street opens Wednesday morning with the S&P 500 index at a record high. The major averages all in the green on Tuesday. The Dow up 10 points, led higher by shares of Nike, which were up 6%. The S&P 500 index up 14 points, and so was the Nasdaq, up 14 points. Gold closed at a fresh record high on Tuesday, $2,949 an ounce. Oil pulled back. U.S. crude back where it was last December. That's good news for drivers who've seen prices at the pump march steadily higher. The U.S. needs homes. It's underbuilt and has been since the

great financial crisis and housing bubble in 08. Now, homebuilders are spooked by President Trump's tariff threats. Homebuilder sentiment took a very hard hit in February, and the primary concern is tariffs. The builders noted 32% of appliances and 30% of softwood lumber come from international trade. And while the Canadian and Mexican tariffs were paused, builders are still worried Chinese tariffs are in place. That's where your appliances come from. Sales expectations in the next six months, they dropped a whopping 13 points into negative territory. CNBC's Diana Olick. Facebook parent Meta on Tuesday, its shares fell, ending a long winning streak. Meta's 20-day win streak coming to an end. This has been an incredible run

for one of America's most well-known companies. I think you're right. One of the most incredible runs we've ever seen in markets. Down 4% today. Maybe it's just time to take some profits. CNBC's Kelly Evans and Brian Sullivan. Delta Airlines executives and Canadian aviation officials are working to piece together how a Delta jet flipped over after landing in Toronto on Monday. You had people who were still buckled into their seats upside down inside the fuselage who were able to get out of the plane. You have to have luck involved for people, not only a few to survive, but all to survive, especially if the aircraft flipped over, then caught on fire. There were 18 injuries. That is a testament to the structure of the aircraft

and the fact that the seats now in all airplanes are made to stay attached to the frame of the fuselage much better than they were in the past. CNBC's Phil LeBeau. Separately, 300 FAA employees in the U.S. fired by the Trump administration as the U.S. deals with two recent jet crashes. And the Trump administration also slashing thousands of people at the IRS in the middle of tax season. Small business owners are feeling worse about the economy after a pop higher right after the election. The small business index trending lower now at 56. Now the question is why? Well, there was an increase in negativity on a few questions that shaped the index. Several surrounding

President Trump's various policy proposals, trade, immigration, expectations for regulation. A quarter cite inflation as the biggest risk to their business currently. Just 36 percent of business owners say they believe that inflation has reached a peak, while two and three believe prices will continue to rise. CNBC's Brandon Gomez. On Wednesday's watch list, we get earnings from Etsy, Wingstop, Carvana, Cheesecake Factory. We also get housing starts and building permits numbers for January. And the minutes from the last Fed meeting will be out. I'm Jessica Ettinger, CNBC. CNBC has the most affluent audience in television, but money itself doesn't have any meaning. It's how you make it and what you do with it that gives it purpose.