CNBC Business News Update - Market Midday: Stocks Lower, Amazon Settles Prime Deception Case, Existing Home Sale Flat For August 9/25/25

Episode Date: September 25, 2025

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I'm Jessica Ettinger, CNBC. Wall Street's still in the red this afternoon, but the major averages are off. Their earlier lows, the down now down 85 points. Nike shares leading it lower. They're down 2.5%. The S&P 500 index is down 25 points. The NASDAQ is down 67 points now. InVIDIA shares turned around. They're in the green this afternoon, up 1.5%. Three days into a trial, the Biden administration's Federal Trade Commission case against Amazon tricking customers with its prime program ends in a major settlement. Now, regulators saying Amazon tricked and trapped millions into subscriptions and then made cancellation confusing and difficult. Now, as part of the settlement, they won't be creating a $1.5 billion consumer fund to

reimburse the 35 million customers who were impacted. This settlement ends one of the highest profile consumer protection fights in years. it is one of the FTC's largest penalties yet. CNBC's McKenzie Sigalos. Existing home sales were flat last month after a blockbuster August for the builders and a 20% increase in the sale of newly built homes. Existing home sales were essentially flat in August.

Supply is the new story in this month's report. It is suddenly dropping as sellers come off the market. It is now a 4.6 month supply of homes for sale. That's considered lean, though. And that's keeping prices in the positive. The median price of a home sold in August, $422,600. Still up 2% year over year and the 26th consecutive month of annual price gains. Homes are now staying on the market longer, 31 days up from 26 last year.

CNBC is Diana Oleg. Starbucks is closing stores and firing workers. It's a $1 billion restructuring. About 100 stores could be closed and about 900 people could lose their jobs. Starbucks is filing in 8K. The filing says the company assessed its existing store portfolio with respect to both whether its coffee houses had a viable path to offering the physical environment that they feel is consistent with the brand and a clear path to financial performance. It's going to close those coffee houses that do not meet the criteria. 900 layoffs.

They did lay off about 1,100 employees, many of them in corporate headquarters earlier this year. So definitely focusing on the stores that are working under this new Back to Starbucks plant. at CNBC's Kate Rogers. The U.S. set to sign a deal with banned Chinese-owned video clip app TikTok's parent company today. President Trump has expected to sign a deal today. It would facilitate the sale, of course, of the dominant app here in many ways, among certainly a certain demographic. 20% roughly would be owned by ByteDance, which is the parent company. Wow.

Bite Dance is going to be very interesting, I think, in the future. Will it go public in Hong Kong? what will its plan be, you know, some of the investors in Bightants, who've been in there for quite some time, Jim, sort of just sitting around and waiting. This has been one key transaction. It's going to take a little longer for it to close. And again, we're still waiting to hear some of the other names. We've reported on a few.

I don't know. That's President Trump has said Michael Dell. He's also mentioned the Murdox. So we'll see. CNBC's David Faber. I'm Jessica Erringer, CNBC. The president's latest, I swear, is watching. Squawk box.

AM Eastern and streaming on CNBC Plus.