CNBC Business News Update - Market Midday: Stocks Higher, Amex With Strong Results Leading The Dow Up, Gold At New All Time High 10/17/25

Episode Date: October 17, 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 and reported by CNBC's Jessica Ettinger. 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 Jessica Eddinger, CNBC. Wall Street's in the green this afternoon for the major averages. Investors are betting that bank credit concerns are not serious. Originally, there were some fears about some bad loans by some of the regional banks. The Dow up 207 points. It's up a half percent being led higher by shares of American Express, which are up 6 percent this afternoon on strong quarterly results as wealthier Americans spend. The S&P 500 index up 18 points. The NASDAX up 31 points. Checking shares of NVIDIA, they're up four-tenths of 1% this afternoon. Sauer loans at Zion's Bank Corp and Western Alliance stirring concern about credit quality in the economy. But investors are breathing a little sigh of relief about that today.

Here's a take from CNBC's Sarah Eisen. You know, whenever you have credit worries with the stock market at a record high, maybe, you know, that's not a great thing. And interestingly, a few analysts jumped in this morning. Baird said buy Siont overreaction. We'll see if these are one-offs or not. But generally, the report card from the banks, including we got Truist this morning. Huntington is credit quality is pretty good. Gold hit a fresh intraday all-time high today.

$4,392 an ounce. Goldman Sachs sees gold hitting 4,900 next year. The main reason is that the drivers of this huge rally in gold, is sticky inflows, both from private investors with long investment horizons and central banks. We're really seeing significant client interest from real money with long investment horizons, asset managers, pension funds, sovereign wealth funds. Goldman Sachs Dan Stevin on CNBC. And here comes Silver, also hitting a fresh intraday all-time high today at almost $54. Chairs of big weight loss drug makers are lower.

Eli Lilly and Novo Nordus. Both shares are down after President Trump suggested that the price of obesity drugs could be quote-unquote much lower. Now, Novo Nordisk is the maker of obesity drugs like Ozmpic and Wigobi, Eli Lilly, manufacturers, competitors like Mungaro and Zepbound. Dr. Mehmet Oz, the administrator for the centers of Medicaid and Medicare services, said that the price of obesity drugs had not yet been negotiated. CNBC's Dominic Chu. Cleveland Cliffs permanently closing its iron ore plant in Stilton, Ohio, early next year,

which has been idled since the summer. It's got 500 workers. Small businesses are being crushed by Trump's tariffs. And economists say it's a warning for the economy. CNBC interviewed nearly a dozen small business owners. Many say they've had to freeze hiring, pull back growth plans, and even take on new loans or cut salaries to keep their businesses afloat. Read the whole piece at cnbc.com. U.S. crude oil back at its lowest since last May, $56 a barrel. That'll be good for drivers as prizes at the pump are poised to drop. As the U.S. Grand Prix is taking Austin, Texas this weekend, Formula One and Apple announced a five-year deal that will bring all F-1 races to Apple TV streaming in the U.S. Jessica Ettinger, CNBC.

CNBC is the network for ambitious people.