CNBC Business News Update - Market Close: Stocks Mostly Flat, Bitcoin Hits Fresh Record, Existing Home Sales Slowest In 16 Years 5/22/25

Episode Date: May 22, 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 bond yields dropped Thursday, allowing stocks to rise, although it was mostly an unchanged day for the major averages. The Dow was down a point. The S&P 500 index down two points. The Nasdaq finished in the green up 53. Nvidia shares were up three quarters of a percent on Thursday. The treasury market kind of gave equities permission to relax a little bit today. CNBC's Mike Santoli, the budget bill that passed the House, killed some of the solar tax credits, hurting solar stocks. Thursday's Sun Run lost more than a third of its value.

Bitcoin hitting a new record high Thursday, topping $111,000. Slightly fewer people applied for unemployment benefits last week. A sign the job market is still holding up. But the number of continuing claims was above 1.9 million. The 1.9 million on the continuing claims, that's something to watch. It would suggest a little bit of trouble of people who lose work getting back into the workforce. But the flow in through the jobless consumer

is still suggesting a healthy job market. CNBC senior economics reporter Steve Leesman. April home sales dropped to their slowest pace in 16 years. New data confirming a super slow spring housing market. Some sellers are actually dropping their asking prices. This is the slowest April sales pace since 2009. Inventory jumped 9%, 1.45 million homes for sale at the end of April, which at the current sales pace

makes a 4.4 month supply. That is the highest supply in five years. More supply is starting to cold prices. The median price of an existing home sold in April, $414,000, up 1.8% year over year. Both the South and West regions did see prices fall. CNBC's Diana Olek. Insurance companies are on notice as NOAA predicts an above normal 2025 Atlantic hurricane

season. Starting a week from Sunday, it's forecasting up to 19 total name storms, as many as 10 hurricanes and as many as five major hurricanes. Apple shares on their longest losing streak in a year at seven days. But Apple might have something new coming. Bloomberg report that Apple's planning to have some smart AI glasses that go on sale starting in 2026. They sound a lot like those meta glasses that they partnered with Ray-Ban, has the camera. And of course, Apple's going to have to get that Siri upgrade off the ground before they

can launch a product like that. CNBC's Steve Kovach. On Friday's watch list, we get newly built home sales numbers for April. Investors get ready for a long Memorial Day holiday weekend. Jessica Erringer, CNBC. You come to my show and you learn how to do stocks. Mad Money, weeknight 6 Eastern, CNBC.