CNBC Business News Update - Market Midday: Stocks Higher, Bitcoin Back Above $90k, Costco Sues Trump Administration 12/2/25

Episode Date: December 2, 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 in the Green this afternoon. The Dow up 234 points. Boeing shares are soaring, leading the Dow higher, Boeing up 9%. The S&P 500 index, up 21 points. The NASDAX up 163. Shears of Nvidia back in the green, they're up a little more than 1%. Apartment rents keep dropping. Vacancies are at a record high.

Nationally. Continued new supply and weaker demand are pushing vacancies up and rents down. The national median monthly rent for apartments fell 1% in November from October and now stands at $1,367.67. That's according to apartment list. It was the fourth consecutive month-over-month decline. Now vacancies hit a record high of 7.2% in October. It comes after a really historic surge in apartment construction brought on big by the pandemic. CNBC's Diana Oleg. Costco, suing the Trump administration seeking tariff refunds for the price the chain is paid to bring in goods from overseas since President Trump imposed the tariffs last April. The Supreme Court will decide whether the Trump tariffs are illegal and whether the government has to pay refunds. If these tariffs are ruled illegal by the court, they're going to want to be first in line for any refunds. You know, this is picking a fight with the President of the United States.

you know, they issued a statement on DEI that I thought was amazing, which is we're going to keep DEI. Oh, yeah, by the way, we're the most proper retailer in the world. Sure. So maybe there's something good about it. Look, I think Costco is a great American institution, and they've kept prices lower than everybody in the world. They've had to eat a lot of tariff, and they did so to help the American people. CNBC Mad Money host Jim Kramer and Carl Keentania. Ford and Hyundai out with November sales numbers. Ford, total sales, officially down You saw the EV sales slow down in October. Well, they continued in November for Ford. Not a surprise there, given the end of the government federal tax credit. Hybrids up 13.6 percent and internal combustion engine vehicles up 2.2%. One other note, guys, Hyundai reported U.S. sales in the month of November down 2%. It's not catastrophic. Remember, November is one of the slower volume months relative to other months.

is far busier for the automakers. CNBC's Phil LeBoe. $250 in a Trump account for every U.S. child, 25 million of them from Dell Computers founder Michael Dell. It's a more than $6 billion donation for a savings and investment account that can grow for each child over time. Altimiters Brad Gersner tells CNBC about the donation and his work with Invest America. I mean, this is one of the largest gifts in the history of the country.

I think the largest to children. Right. Largest to children. And by the way, Joe, it's not going to a charity that will then distribute some of the money to children. A hundred percent of this is going directly into the private accounts of these children would have been impossible but for the passage of the Invest America Act. It's Brad Gersoner with CNBC's Joe Kernan. Prices at the pump have hit a four-year low. The national average of $3 a gallon for regular, according to AAA, while Americans may have savings while fueling up their vehicles. gas stove and home heating is going to cost more. Natural gas prices are at a three-year high now. On Wednesday's watch list, we'll get earnings from Macy's Salesforce.com and Dollar Tree. And Wednesday night, the Rockefeller Center tree lighting ceremony will be held.

Jessica Eddinger, CNBC. CNBC is the network for ambitious people.