CNBC Business News Update - Market Midday: Stocks Falling, Proxy Fight At Lululemon, Housing Market Picks Up Steam

Episode Date: December 29, 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 Jill Schneider. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

I'm Jill Schneider, CNBC. Red arrows across the board in midday trading on this last Monday of the year. Investors are taking profits in tech stocks after the S&P 500 scale to new record levels last week. The S&P is down 32 points, the Dow lower by 265, and the NASDAQ lower by 152. Of the Mag 7, Tesla and Invidia falling by the most. Just weeks after announcing that CEO Calvin McDonald will step down, new drama at Lulu Lemon today. The company's founder and one of its largest shareholders, Chip Wilson, launching a proxy fight, nominating three new board candidates.

Telsi Advisory Group's CEO and chief research officer, Dana Telsi, isn't surprised. Change is definitely needed at Lulu. You wouldn't have change if you didn't have a stock price that's down as much as it is after being so successful for many years. One of our themes for 26 is assortment and... activation drive appreciation, which fits very well for Lulu because they need to enhance the core. Homebuyer momentum unexpectedly took its biggest jump in nearly three years in November. The National Association of Realtors says contracts to buy previously owned homes rose 3.3% in

November from an upwardly revised gain of 2.4% in October. All regions of the country saw gains. However, the Western U.S. posted the most robust increases. Silver pulling back more than 7% after reaching $80 for the first time ever overnight. The precious metal has had a massive run-up in 2025. Jill Schneider, CNBC. Become a smarter investor with CNBC Pro. 24-7 access to market-moving news and interviews with three global live streams. Subscriber-only content plus exclusive live events.

This is my first time at the stock exchange and it's been awesome. To be on the floor, I just can't believe I'm here. Become a CNBC Pro. Go to CNBC.com. slash get pro now.