CNBC Business News Update - Market Midday: Stocks Lower, Newly Built Home Sales Soared In August, Disney Shares Higher After Return Of Jimmy Kimmel Live 9/24/25

Episode Date: September 24, 2025

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I'm Jessica Eddinger, CNBC. Wall Street's in the red this afternoon. The Dow down 120 points, quarter percent, led lower by shares of Amgen, which are down 2.5%. The S&P 500 index now down 24 points. The NASDAQ down 11 points. That's a half percent. Invidia shares are down more than 1%. Disney shares are higher. They're up 1 and a quarter percent this afternoon after its ABC. TV network brought back Jimmy Kimmel Live Tuesday night. The home builders sold a lot of newly built homes last month. New home sales soared 20% in August to a three-year high. Home builders cut their prices and brought down mortgage rates for buyers. Really quite something, 800,000 up 20% month to month in August. These numbers are based on sign contracts. So people out shopping in August, when the 30-year fix had not started its steep drop that we saw in September. So, It was well over the high 6% range. So this is a surprise.

Lanar's earnings last week, they said they're doing price cuts. They're doing mortgage rate buy downs and other incentives. The price of a new home sold was $413,500. This is 4.7% above July. It is a real surprise to see prices go up as well as sales go up. Builders obviously making the push to get people in the door. CNBC's Diana Oleg. Today, the average rate on a 30-year home loan is now back up to almost 6.4.

4% according to Mortgage News Daily. The NFL already looking at getting more money for the media rights to its games, looking to renegotiate next year instead of in three years. Here's CNBC's Alex Sherman. The opt-out is not until the end of the 2029-30 season. So that is when the NFL theoretically could get out of its current existing media contracts with Paramount, which owns CBS, our own parent company, which owns NBC Universal, Disney, Amazon, Fox.

From the league's perspective, they have seen recent sports media rights deals out there, the NBA, the NHL come to mind, that have gotten huge annual revenue increases. From the media company's standpoint, if they could do a deal earlier and lock up a few more years of NFL football and maybe, in effect, box out some of the big tech companies that may want in, that I think would be something that the media companies would want quite a bit. Honda, ending production of the Accura EV assembled by GM in the U.S., the Accura ZDX, and EVs in general are facing lower demand. Production of that vehicle for the 2026 model year was supposed to start this month at GM's Spring Hill Assembly plant in Tennessee. Disney, raising prices for the Disney Plus streaming service for the fourth year in a row and more.

Starting next month, the head-supported version of Disney Plus will increase by $2 to $11.99 per month. but that free premium version will rise by $3 to $1899. This marks the fourth-rate year Disney has raised prices. The company says that Disney Plus, Hulu, and ESPN Plus, the entire bundle will also see price hikes. CNBC's Frank Holland, Target opened its seasonal hiring portal Tuesday for people looking for holiday work. While a new report finds that overall seasonal retail hiring could fall this year to its lowest level since 2009, Placement firm Challenger, Gray, and Christmas says by this time last year, Target, Macy's, Burlington, Aldi, and Moore had already announced the number of seasonal workers they planned to hire, but this year, it's much slower. On Thursday's watch list, earnings are coming from a biggie, Costco, plus CarMax, Accenture, and Blackberry.

We get durable goods orders numbers and a fresh read on U.S. economic growth with GDP numbers, gross domestic product. We also find out how many people applied for unemployment. benefits last week. Jessica Eddinger, CNBC. CNBC is the network for ambitious people.