CNBC Business News Update - Market Midday: Stocks Mixed, ‘Big Short’ Investors Accuses Hyperscalers Of Artificially Boosting Earnings, Mega Millions 900 M Tonight 11/11/25

Episode Date: November 11, 2025

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I'm Jessica Eddinger, CNBC, mixed markets on Wall Street on this Veterans Day afternoon. The post office is closed today, as are most banks. The Dow's in the green. It's popping up 317 points, but the S&P 500 index has been slipping. Tech shares under pressure, the S&P down 12 points, the NASDAQ down 169 points. The big short investor, Michael Burry, accusing it. AI hyperscalers of artificially boosting their earnings. Airlines today warning, flight cancellations will continue even after the shutdown ends because it takes time to handle planes and schedules and get things back up to speed.

The Senate passed a bill to end the government shutdown. It heads to the House. Part of it will be for the rest of the fiscal year. Part of it's only until January 30th, but now it goes to the House. passage there seems very likely, even though House Democrats are whipping against the measure, fiscal hawks in the Republican conference are already calling it a total win. We're expecting to see that vote tomorrow afternoon. But now the race is really on to see if those health care tax credits can be reauthorized before they expire at the end of the year. Senator Gene Shaheen,

she was a key part of brokering that deal to end the shutdown in the Senate. She told NBC that the 40-plus day shutdown has put the health care debate front and center, and if Republicans don't find a path forward, they will pay for it in the midterms. CNBC's Emily Wilkins in Washington. Tariffs could be cut for Switzerland. Both countries are working on a deal, and President Trump hinted at cutting tariffs for Americans bringing goods in from India. SoftBank has sold its entire stake in NVIDIA for $5.8 billion. SoftBank has cashed out of NVIDIA shares in the past, too. They need the money, in part, to pay for the commitments that they have made,

SoftBank, to Open AI. They're now committed to some, I think it's $22 billion. Now, they've been able to successfully syndicate, I think it's as much as 10, because it was originally over a $40 billion commitment. They have already put some of the money in. Obviously, Open AI has a unquenchable need for capital. CNBC's David Faber and Carl Keentania with CNBC Mad Money host Jim Kramer in there. A weak jobs report from ADP, the four-week moving average of private sector job creation based on its payroll numbers, down 11,000.

CNBC has been compiling alternative data while the government data has been stalled in the shutdown. More jobs being slashed at Paramount Skydance, as it expects a billion dollars more in post-merger savings. The company owns the Skydance and Paramount Movie Studios now, plus CBS News and TV, and cable properties. San Francisco-based Sonder Hotel guests told to get out of their hotel rooms in less than 24 hours as the short-term rentals company said

it plans to file for bankruptcy. Marriott ending a licensing deal with Sonder, which allowed its rooms to be booked through the Marriott Bonvoy website. Guests are saying Marriott's not helping. Sonder has properties in 40 major cities worldwide. The mega-millions jackpot tonight pushing a billion dollars at $900

million. Tickets are now $5 a piece. Jessica Eddinger, CNBC. CNBC is the network for ambitious people.