CNBC Business News Update - Market Midday: Stocks Lower, Gold Momentum Fades, Tesla Reports Results After The Closing Bell 10/22/25

Episode Date: October 22, 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 red this afternoon. The major averages. The Dow pulling back from the record high it opened with. Down 114. The S&14 points, down 20 points. That's a third of a percent. The NASDAQ now down 163 points, about three quarters of 1%. Obviously, the regional bank worries, and there's always some companies that disappoint. But the reality is we're looking at record earnings this year. profit margins, continued strong guidance. I mean, I know a lot of big companies still have to report. The labor market is weak. Yes, we haven't had data in a while, but we know that. The reality, though, this is still a bull market. Still pretty optimistic. We're going to see a pretty good-sized fourth quarter rally and all of a sudden done. And just enjoy this strong running season. That's the Carson Group's Ryan Dietrich on CNBC. Gold is pulling back again toward $4,000 announced today. It's on pace for its first negative week in the last 10, but year-to-date gold is still more than 50% higher. Gold. Talk about momentum coming off the boil. What's happening with gold,

obviously you got a lot of fast money chasing that last leg of the rallying gold. All kinds of rationales, logical ones for why gold has been going up to some degree. But the last acceleration higher clearly created this sort of unstable momentum situation. Now we are unspooling that at least a little bit. CNBC's Mike Santoli. General Motors plans to launch what it calls eyes off driving Google AI and other new in-vehicle technology by 2028. Facebook parent meta cutting 600 jobs, mostly in its AI unit. Charter communications cutting 1,200 jobs. The Wall Street Journal says the cuts will come in back office areas and at the corporate level.

HBO Max, owned by Warner Brothers Discovery, is raising prices across all of its plans effective immediately. Variety says HBO Max Basic, that comes with. with ads will be a dollar a month more, $11 a month a month, HBO Max Premium, which has no ads and you can stream four devices at the same time. That goes up $2 a month. It'll be $23 a month. Tesla reports quarterly results later on today. While the Take Back Tesla campaign is gaining some steam, urging Tesla shareholders to reject the $1 trillion pay plan for Elon Musk.

Meantime, one expert tells CNBC that Tesla, trading it about, 50 times earnings has a lot of work to do to justify that valuation. Got to get new product into market. I'm not sure this new $37,000 vehicles enough. With Volkswagen, B-Y-D, others coming out with $30,000 cars, Hyundai right behind them. You need a $30,000 car. Now, they've sold themselves as a defining technology company. I think that's Musk's strength.

But you've got to make that full self-driving car work a little bit better to be competitive for the Waymo. and you have to start selling the optimist robots. They're going to have a lot of work to do. Former Tesla board member Steve Wesley on CNBC. Jessica Eddinger's CNBC. CNBC is the network for ambitious people.