CNBC Business News Update - Market Midday: Stocks Higher, Gold Sets Another Intraday Record High, Amazon Debuts Prescription Drug Vending Machines 10/8/25

Episode Date: October 8, 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. Wall Street's in the green this afternoon. Stocks are higher. The Dow up 191 points. Caterpillar shares are soaring this afternoon. They're up more than 4%. The S&P 500 index up 39 points, more than a half percent. The NASDAQ up 193 points, 8 tenths of a percent. Invidia shares, they're up one and a half percent this afternoon. All eyes on gold today. It already hit another intraday high. It topped 4,000 an ounce yesterday, now at $4,071 an ounce on pace for the 44th record close of the year for gold. And some think it's going even higher. I think 4,400 in the first half of next year is quite possible.

In fact, I think it's quite likely. We have the U.S. government shutdown, and at this point, I'm not quite sure anyone knows when this is ending. And there is, of course, that whole inflation problem where we could be seeing easing monetary policy at a time where inflation is likely to move significantly more. So all those things, I think, are getting people to think that gold is a good hedge. TD's securities, Bart Mellick on CNBC. Meantime, large retailers like Pandora and Cignat, which owns Zales, K-Julers, Jared, and Blue Nile. They've signaled they're exploring some price-increase possibilities for jewelry and alternative manufacturing methods to counteract the hit they're taking from the price of gold. Would-be home buyers are heading back to riskier home loans with interest rates ticking higher.

More people applied for arms last week, adjustable rate mortgages than conventional 30-year home loans. New mortgage data shows a drop in demand last week, even as interest rates fell slightly. Total mortgage volume was down 4.7%. The average rate for a 30-year fixed was 6.43%. That was down from 6.46 the prior week. One interesting note, the share of applications for adjustable rate mortgages rose from 8.4% to 9.5% as buyers and refinancers sought lower rates anyway. They could find them. CNBC's Mike Santoli. Verizon signed a deal with AST Space Mobile to provide cell service from space. shares are surging. Amazon is adding prescription vending machines to some of its one medical clinics in Los Angeles. The patient goes in, sees the provider, and then can just go to the lobby right there at the office to the machine to get their medicine. It'll be stocked with common items like antibiotics and inhalers. The 12,711 stores in the U.S. are getting a makeover

as the chain's Japanese owner is issuing stock to the public next year. Some stores have already been renovated, and they're already seeing higher sales. Consumers frowning over inflation and the job market. The latest New York Fed survey finds that fewer households expect to be better off a year from now. Tesla shares were trying to recover after investors were initially disappointed with the new cheaper electric vehicle models it announced. The EV giant unveiled its cheaper Model Y for just under $40,000 each. The Model Y standard has less features and slightly that's miles per charge. Those shares, remember, we're climbing in anticipation of the announcement,

but maybe some investors were hoping for a few other updates on other products. CNBC's Dominic Chu. Jessica Eddinger, CNBC. Get exclusive reporting and data on high net worth investors, family offices, and alternative investments from the foremost authority on private wealth, Robert Frank. Get the weekly newsletter and special access to events at CNBC.com slash inside wealth.