CNBC Business News Update - Market Midday: Stocks Higher, Dow Hits Fresh Record High, Qualcomm Pops 15% On New Chips 10/27/25

Episode Date: October 27, 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 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, stocks extending their rally this afternoon on Wall Street investors, hopeful a trade deal could get done with China, the Dow, hitting a fresh record high today. It's up 225 points, just about a half percent off its earlier high. The S&P 500 index up 70 points. That's 1%. The NASDAX up 402 points, 1 in 3 quarters percent. Companies who share, have hit fresh all-time highs today include Google Parent Alphabet, American Express, Micron, Palo Alto Networks, Palantir, and Apple. That company approaching a $4 trillion valuation. Qualcomm shares are soaring 15% as it announced new chips to compete with AMD and Invinia. This as the U.S. Department of Energy is forming a $1 billion supercomputer and AI partnership with AMD. The rising inflation is being taken by some as meaning the Fed will cut interest rates this week with an announcement on Wednesday.

One investor tells CNBC that rate cuts could send stocks even higher. With the Fed cutting rates up ahead here by probably 50 basis points between now and year end, and I don't think those rate cuts are actually necessary. I think that just stimulates the economy more, but really the stock market more. And if that's the case, then I think we could get a melt-up. Yardini researchers Ed Yardinney on CNBC. It is the busiest week of earnings season. More than 170 companies will report results, including most of the magnificent seven tech names.

Google Parent Alphabet, Microsoft, and Facebook Parent Meta report on Wednesday. Amazon and Apple announced their results on Thursday. About one and every eight Americans is getting snap benefits of some sort. food assistance from the government used to be called food stamps. Benefits will end Friday if the government shutdown doesn't end. Investors are watching and say retailers will feel that. The totality of that, without a doubt, is a negative. What we've already seen, and we would expect that we see some more of this, is the places like Walmart and Target. But I think the hope is that, again, going back to trade frameworks, that that is temporary, because as you move,

into 2026 and beyond that we're in somewhat of a more normalized environment. Columbia thread needles Nicholas Jean-Vier on CNBC. Hurricane Melissa forecast to grow into a rare Category 5 storm ahead of an historic landfall on Jamaica. The World Series will have a winner by the end of the week. The Toronto Blue Jays and Los Angeles Dodgers play game three tonight in L.A. The series is tied. No mega-million's winner over the weekend. And tomorrow night's jackpot is $714 million, the ninth largest in the history of that game.

Jessica Eddinger, CNBC. This December, CNBC opens its doors for an exclusive in-person experience at the iconic NASDAQ market site in New York City. Fast Money Live, trading the holidays. December 11th. Get your tickets now at CNBC Events.com slash fast money.