CNBC Business News Update - Market Close: Stocks Rally, Dow Up 1,000 Points, Tesla Reports Disappointing Results 4/22/25
Episode Date: April 22, 2025From 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. Ancho...red by CNBC's Jessica Ettinger.
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I'm Jessica Edinger, CNBC. Wall Street opens Wednesday morning after a rally for stocks
on hope for a de-escalation in the Trump trade war, especially with China. The Dow up 1,016
points. That was 2.5 percent. It was led higher by shares of 3M, which were up 8 percent on
strong quarterly results. The S&P 500 index on Tuesday up 129 points, 2.5%.
The Nasdaq soared up 429 points, that was 2.7%.
Nvidia shares were up 2%, closing just below $99 a share.
Bitcoin hit its highest in six weeks on Tuesday, topping 90,000 gold at another new record
high Tuesday as skittish investors look for a safe haven and the dollar weakens.
Investors are hoping the tension with China eases.
White House press secretary Caroline Levitt sending an encouraging signal about trade
negotiations with China during her briefing.
She said President Trump wants to get to a deal.
He wanted me to share with all of you
that we're doing very well in respect
to a potential trade deal with China.
As I mentioned, there have now been 18 proposals
in more than 100 countries around the world
who are wanting to make a deal
with the United States of America.
And the president and the administration
are setting the stage for a deal with China.
And worth noting there, she didn't offer any specifics of what setting the stage for a deal with China. And worth noting there, she didn't offer any specifics
of what setting the stage for a deal means in real terms.
And of course, there's no schedule
for presidential level communications
between the two countries.
CNBC's Eamon Javers at the White House.
Meantime, some investors say the Trump tariff damage.
Well, it's already done, especially overseas.
You know, all you have to do right now
is look at what's going on with tourism.
A lot of foreigners are canceling vacations to the United States.
Also, look at look at Tesla sales in Europe.
I mean, they were down about 49 percent in the first two months of this year
because that's a brand that's most closely associated with the Trump administration. So there's a big backlash going on.
And I think it's going to take a long time before foreigners
come around to buying American goods again.
Greenwich Wealth's Vahan Jajankeyan on CNBC.
Meantime, the sell America trade is happening as foreign investors begin to shun the United
States.
We've seen this sort of sell America trade take place for a number of weeks now, where
treasuries are losing ground, the dollar is rolling over
and participants are rotating into other geographies around the world.
Pepperstones Michael Brown on CNBC.
Tesla out with disappointing quarterly results after the closing bell Tuesday.
Tesla has lost 40% of its value so far this year and shares were ticking lower in after
hours trading.
It's been a long time since this stock has traded based upon the fundamentals.
It's largely about Elon Musk's vision for the future and the market's belief in
this ability to pull it off. And right now there's a lot of question about his
commitment. That's the Wall Street Journal's Tim Higgins on CNBC. On
Wednesday's watch list, we get earnings from big names like Boeing, AT&T,
General Dynamics, Chipotle and IBM, to name a few.
We get new home sales numbers, and the beige book will be out on current U.S. economic conditions.
Jessica Ettinger, CNBC. platform from the number one source in business news. Watch live or on demand. Access any market, anytime, anywhere. Start streaming. Go to cnbc.com slash plus now.