CNBC Business News Update - Market Midday: Stocks Higher, Consumer Confidence At Lowest Since Last April, Homeowners Pulling Properties Off The Market 11/25/25

Episode Date: November 25, 2025

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I'm Jessica Eddinger, CNBC. Wall Street, all in the green for the major averages this afternoon after a mixed morning. The Dow soaring up 480 points, 1% Merck shares leading it up there. Merck is up 4% this afternoon. The S&P 500 index up 34 points, a half percent. The NASDAQ up 21 points. Shears of Nvidia are still lower. They're down a little more than 4%. NVIDIA down on a report that Facebook parent meta may use Google AI chips and not NVIDIAs.

Companies whose shares have hit fresh all-time highs today. It's a long list, General Motors, Google Parent Alphabet, Hilton, Ralph Lauren, Ross, stress for less, T.J. Max and Marshall's parent, the TJX companies, Eli Lilly, and Apple, just to name a few. Now, NVIDIA's shares are lower on a report that Facebook parent meta may use Google AI chips and not NVIDIA's. It's the jitters. It's the AI jitters. All this bubble talk, all the debate of we're in an AI bubble. I think the market is so sensitive right now to any news around semiconductors, chips and artificial intelligence. Any kind of news that may suggest NVIDIA could face more competition and maybe that outlook isn't as strong. So that's what you're seeing here at this point in time. CNBC's Arjun Karpal in London. Consumer confidence in November hit its lowest since last April when President Trump

announced the tariffs. We're expecting a number right around 93. Big miss here. 88.7, the weakest since April on the present situation. 126.9, another miss. The weakest since March of 21. CnBC's Rick Santelli, homeowners deciding not to sell and pulling their homes off the market at the fastest pace in nearly a decade. Now we're heading into the super slow season for housing and seeing new reports that more sellers are delisting their properties. Redfin just reported nearly 85,000 U.S. sellers took their homes off the market in September of 28% from the year before and the highest level for that month in eight years. I have to believe that consumer sentiment was playing into that delisting. CNBC's Diana Oleg. Inflation rose slightly at the wholesale level in September

in the new PPI producer price index report that was delayed because of the government shutdown. Retail sales for September also out disappointing, too. They ticked slightly higher, but only half what was expected as consumers watched their wallets. Meantime this week, the National Retail Federation says a record on 187 million Americans will shop, even if they're not spending very much. But some retail stocks are soaring today. Coal's shares up 30%. Abercrombie and Fitch up 20%.

These chains are out with positive outlooks. Private payroll jobs. Job losses accelerated in the last four weeks, down by about 13,000 jobs a week in the new ADP data. If people aren't shopping and spending, then businesses don't hire. The biggest wild card in terms of employment and hiring right now is the consumer. A downbeat consumer, will that resilience that has fostered growth in the second quarter of this year, will it continue? And that's what we're seeing in these hiring numbers. They are delayed, possibly curtailed.

but the momentum is not what we're used to seeing at this time of year. ADP chief economist Neela Richardson on CNBC. Dick Sporting Goods will close some underperforming footlocker locations. It's trying to protect some profits. I'm Jessica Eddinger, CNBC. Join the club with Jim's best deal of the year at CNBC.com slash Club Black Friday. Terms and restrictions apply.