CNBC Business News Update - Market Midday: Stocks Higher, Major Averages At New Record Highs, Lack Of Jobs Report In Shutdown Could Impact Fed Interest Rate Cuts 10/3/25

Episode Date: October 3, 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 record highs for Wall Street this afternoon. No September jobs report this morning because of the government shut down the Dow up 517 points this afternoon, led higher by shares of United Health, up almost 3%. The S&P 500 index up 32 points, a half percent. The NASDAQ up 53 points, and video shares have gone negative. They're down 3 tenths of 1%. companies who shares have hit fresh all-time highs today include Ralph Lauren, Garman, Coach Parent Tapestry, Monster Beverage Travelers, Johnson and Johnson Caterpillar Micron and Palo Alto Networks, and that's just to name a few. Investors know that tech and AI are driving this rally, but what about a pullback? There's going to be a correction, even if we're only in the first inning. There's just absolutely no way you can have stock prices. hundreds of companies all revolving around this theme.

You cannot have Empire State Building-esque vertical charts in perpetuity. It's just, it's never happened before, and it won't happen this time. There is absolutely going to be a reckoning. That's not a reason to not invest, because corrections happen really fast. People don't even get a chance to panic if and when they happen. Riddholz-Welts-Josh Brown on CNBC. No September employment report delayed because of the government shutdown, but the National Federation of Independent Business,

chief economist Bill Dunkelberg tells CNBC that hiring by small businesses has turned negative. We ask each month a whole bunch of firms about the change in their total employment, hiring and firing. Right now we see that there are a lot of firms that have job openings. There are, unfortunately, very few that get filled. So that leaves us with a negative number for the net increase in employment for the small businesses that we survey. ORA intelligences Evan Sown was on CNBC with more on hiring.

We track job posting data by industry on a week-by-week basis. And we started to see a real decline across all sectors. So health care is actually down pretty significantly this year. Restaurants, which is really a really good leading indicator of consumer spend, is down pretty drastically in September. So we really saw a pretty gloomy September. One investor tells CNBC the government shutdown could put a wrinkle in the rally if investors think it's a sure thing that the Fed will cut interest rates at the end of the month. Because we're not able to economic data like payrolls and we may not get inflation data, the Fed is going to be flying blind a little bit when it looks at rate cuts. So we have an FOMC meeting coming up later this

month, October 28th, and the Fed may not have enough information to decide if they need to cut rates. Newveen's Sarah Malick on CNBC. Taylor Swift's new album, The Life of a Showgirl, is out. Jessica Eddinger, CNBC. The pop superstar announcing a brand new album. Literally everything she touches. people won't know about this swift effect a new era cnbc premiere episode saturday 10 eastern