CNBC Business News Update - Market Midday: Stocks Higher, Nike Shares Pop, Consumers Say They Won't Spend Then They Do 12/24/25

Episode Date: December 24, 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 and reported 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. Christmas Green on the screen this afternoon with the market's closing at 1 p.m. Eastern today. The Dow is up 290 points. More than a half percent. Nike shares leading the way higher. They're up almost 5%. The S&P 500 index hitting a fresh intraday record high today, up 24 points. The NASDAQ up 52 points. The red on the screen this afternoon is Invidia. Shares are down about a half a percent. Companies whose shares hit fresh all-time highs today include J.P. Morgan, Bank of America, Wells Fargo, Capital One, Coach Parent, Tapestry, and Micron. We got unemployment numbers this morning. Continuing unemployment claims popped back up over 1.9 million. These are people who are collecting checks every week, suggesting it might be taking longer for them to find the next job. but the number of people who applied for unemployment benefits last week came in lower than expected at $214,000. 250 is where you start to say, I got to pay attention,

up to say $275 where I'm still not worried. And if I started getting closer to $300, I'd be like we have real weakness in the job market. But then you get to the 1-9 number on continuing claims. It's up there towards the top of the range that we've had, but it's not necessarily a worrisome number in and of it. self, I think it still says to me, low fire. I get no information from this necessarily about hiring, but we do get some fires up. It's a good number. CNBC senior economics reporter Steve

Leesman Nike shares leading that Dow hire, as I mentioned. On news, the CEO of Apple is doubling the number of Nike shares. He owns Tim Cook has been on the Nike board for 20 years. On this final shopping day before Christmas, the CNBC All-America Survey finds. Americans say they're spending less for the holidays, 50% less this year than last year on dining out, 60% less on gifts. But SW Retail Advisors Stacey Whitlitz says people are saying one thing and doing another. The consumers always saying, oh, they're cautious. The consumers out there and they're spending and they're spending on full price because what we know is that there are fewer discounts out there. Certainly you hear the consumer's cautious, but what we've seen is

there's a lot of full price selling. And she tells CNBC, Retailers are hoping for a last-minute Christmas sales boost today. At the last minute, everybody's in a panic, and what can I get that small? That's maybe not a huge ticket item. So that's Alta, TJX. And, of course, that's Walmart because all the last-minute items that you need to feed all the guests coming over. So those are kind of the impulse pickups. Generally, on Christmas Eve, many of the big-name retailers do not have late hours tonight.

Americans are enjoying the lowest gas prices in four years for their holiday. Rent is lower. Not for people already renting, but for people moving. And Deutsche Bank's senior economist Brett Ryan tells CNBC, that's all helping to offset higher prices in stores. You have housing CPI rents that are falling, which is a positive. That's been checking the growth in goods inflation. Goods inflation has been picking up because of the tariffs. Southwest Airlines profits are down more than 40% this year, but it's the top U.S. airline stock. Its shares gained more than any other airline. Southwest says its new fees to check bags and fees for assigned seating will generate cash in the new year, and investors agree.

New in theaters tonight, Universal's song sung Blue, Sony's Anaconda, and A24's Marty Supreme. Tonight's Christmas Eve, Powerball Jackpot, $1.7 billion. Jessica Eddinger, CNBC. graciously.