CNBC Business News Update - Market Midday: Stocks Higher, Job Creation Revision Is Largest In 20+ Years, JP Morgan CEO Says Economy Is Weakening 9/9/25

Episode Date: September 9, 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.

I'm Jessica Eddinger, CNBC. Wall Street now flipped around and is in the green this afternoon. The major averages are all higher. The Dow up 121 points. United Health shares are leading it up. They're up more than 8% this afternoon. The S&P 500 index up 10 points. The NASDAQ is up 47 points. InVIDIA shares unchanged this afternoon. Companies who shares have hit fresh all-time highs today. include Morgan Stanley Goldman Sachs and Ticket Master Parent Live Nation. BlackRock CEO Rick Reeder, whose name has been on the list as a possible Fed chairman, is a believer in lowering interest rates. We are seeing something in the country today that we haven't seen with this intensity in an extended period of time.

Low income is having a really hard time. And by the way, it's half the country that's having a hard time. If you think about today, if you're being burdened by tariffs and largely it's goods, So the goods are where lower income, middle income, suffer from when you have goods inflation. To say, gosh, we're going to charge you a higher rate to borrow, too. It doesn't feel like that is equilibrium. I think we can get that rate down. Reader spoke at Future Proof.

CNBC is covering that event. The U.S. created a lot fewer jobs between April of last year and the end of March of this year. Fewer than anyone realized, and it signals that the economy may be on shakier footing the first thought. Minus 911,000 from April of 2024 through March of 2025 is 911,000 less than previously reported. Over that time period, payrolls were quite a bit weaker. This is the annual benchmark revisions. We were not creating as many jobs as we thought. It's suggesting much weaker payroll growth.

I know that some Fed officials think this is part of a broader story of weakness in the job market that should cause the Federal Reserve to cut. economics reporter Steve Leesman and J.P. Morgan Chase, CEO, Jamie Diamond, reacted to that biggest revision and job creation in the U.S. in more than 20 years on CNBC. That's a big revision. So the economy's weakening. You know, whether that is on the way to recession or this weakening, I don't know. And that just confirms what we already thought kind of. Apple's new product event is on in Cupertino, California.

This is definitely the opposite of a super cycle, you know, one of those years where some hardware change really excites everybody the design looks different and there's something like 5G remember 5G was introduced in 2020 and we just saw sales jump dramatically this year you know the big thing might be a thinner lighter weight air version of the iPhone which I think will appeal to some people but because of its performance capabilities isn't going to like draw everybody out around the world at the super excited level the wall street journals tim higgins on cnbc I'm jessica Eddinger. CNBC. Celebrating 30 years of Squatbox and streaming on CNBC Plus.