CNBC Business News Update - Market Midday: Stocks Mixed, Intel Shares Higher On Investments, FTC Sues Concert Ticket Reseller 8/29/25

Episode Date: August 19, 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.

I'm Jessica Eddinger, CNBC. Wall Street's mixed this afternoon, the Dow falling from an intraday record high. It is up five points being led higher by shares of Home Depot, which are up more than 3% this afternoon. The S&P 500 index down 24 points. The NASDAQ falling 218 points. That's 1%. InVIDIA shares are pulling back today. They're down almost 2% this afternoon.

Companies whose shares have hit fresh all-time highs today. include Ticketmaster Parent Live Nation, AutoZone, Quest Diagnostics, and Fastenol. Intel, which has been struggling trying to make better chips for higher-end uses, its shears jumped onward that SoftBank will make a roughly $2 billion investment in the company, and the Trump administration's reportedly

been considering making a government investment in the chipmaker. Here's Commerce Secretary Howard Lutnik on that with CNBC's David Faber. Mr. Secretary, how do you view then the chips funds that have yet to be committed but have been promised. And the idea that that might be then converted to an equity stake, is that how we should view it, that ultimately that's what you're talking to Intel about right now? Yes. Yes. I mean, America should get the benefit of the bargain.

I mean, that is exactly Donald Trump's perspective, which is why are we giving a company worth $100 billion this kind of money? What are in it for the American taxpayer? And the answer, has is we should get an equity state for our money. Commerce Secretary Howard Lutnik on CNBC. Home Depot out with disappointing quarterly results for the second straight quarter. Consumers have been pulling back some of their spending, but they've held their outlook steady for the year. Home Depot has been sideways for four years.

Sideway sales, sideways earnings, basically sideways in the stock. It's not that far off. It's late 2021 high. But it shows you that Home Depot effectively saying, We're controlling what we can control. It's maintained its valuation, even though it really doesn't buy back stock the way it used to. So it's kind of a steady and weight, and we're going to be well positioned once rates cooperate, maybe once we kind of unleash some of the pent-up, you know, demand for housing and renovation.

That's the way that they're playing it. The street seems mostly receptive. CNBC's Mike Santoli. The insurance industry watching as the eastern seaboard is bracing for the outer band effects of Hurricane Aaron. with North Carolina's Outer Banks Hatteras Island already evacuated. The dangerous rip currents have shore towns from the Carolinas up north to Cape Cod, keeping swimmers out of the water and warning people during a big summer vacation week. Best Buy launching a third-party marketplace, allowing outside businesses to sell under that best buy.com banner.

It's taking a page out of the Amazon and Walmart Playbooks, which now have robust online advertising businesses that go along with that. those marketplaces. The FTC is suing ticket reseller Key Investment Group, which says it used multiple fake Ticketmaster accounts to buy up Taylor Swift and Bruce Springsteen tickets, among others, only to resell them at highly inflated prices. When artists price their tickets, they price them way below what they could actually command in the marketplace, and they do that in order to allow their fans to have access to their concerts, to let everyone have a shot to come to their concerts. And So Congress passed a law that said, look, when artists do this, we don't want people defeating

security measures to buy tons of tickets to take them out of the consumer market, put them on the resale market, and then jack up the prices. FTC Chairman Andrew Ferguson on CNBC, Baltimore-based Key Investment Group denies it did anything wrong. Deadline is reporting the FTC says Key bought nearly 400,000 tickets for various shows for nearly $57 million with lots of different accounts, then resold most, making about 7,000. million dollars in profit over a 13-month period. Jessica Eddinger, CNBC. CNBC is the network for ambitious people.