CNBC Business News Update - Market Midday: Stocks Mixed, Job Market Warning, Ford October Sales Higher 11/3/25

Episode Date: November 3, 2025

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I'm Jessica Odinger, CNBC, Wall Street, mixed to start November after a winning October is in the books. The Dow is down 190 points, almost a half a percent this afternoon. The S&P 500 index up 10 points, the NASDAQ's up 121 points, about a half a percent. Open AI, signing a $38 billion compute deal with Amazon. It's partnering with the parent of Cloud Leader Amazon Web Services for the first time. NVIDIA shares were higher on U.S. approval of AI chip sales to the United Arab Emirates in a Microsoft deal. One economist has a word of caution for investors right now. It all feels good when you look at these stock prices, but there's a lot underneath it that makes me just very anxious.

The job market is flat on its back, right? You can argue we have a job's recession already. If we're creating any jobs, we're not creating very many of them. And that's even before AI really kicks into gear and causes jobs. and that feels like it's just starting to happen to some degree. And I wouldn't be nearly as worried about it if we were creating 100,000 jobs a month or 125,000 jobs a month, but we're not. And so if you start losing jobs because of AI and we start getting negative numbers, that's another reason to be nervous about what's going on here. Moody's economist Mark Zandi on CNBC. October vehicle sales

numbers are out for Ford. Overall Ford sales up 1.6% ice vehicles, internal combustion engine vehicles. Those sales were up 3.4% compared with October of last year. Here's the big fall off, EV sales, down 24.8%. That is not a surprise. That will not move markets. There will be nobody who says, oh my goodness, sales were down 24%. That was expected. Hybrid sales down 4%. Bottom line is this, guys, none of the sales numbers that we're going to hear from any of the automakers who are reporting for the month of October, none of them are going to be good. You strip away a $7,500 incentive you are going to see a drop in demand. Again, Ford, overall, up 1.6% for the month of October.

That's CNBC's Phil LeBow. Nearly two dozen U.S. states are suing the Trump administration over the new rule that limits student loan forgiveness for public servants, like teachers, nurses, and firefighters. The suit says the White House went back on the bargain that was signed into law nearly 20 years ago by President George W. Bush. Kimberly Clark buying Kenview, which makes Tylenol, the combined. Lined company would bring together brands like Huggies and Kleenex with Band-Aids and Tylenol. Kenview was spun out of Johnson and Johnson about two and a half years ago.

The Hollywood box office just had its worst weekend of the year. Nothing new came out. Studios figured out moviegoers would probably be busy either with World Series, games, or Hala Weekend, or both. Variety says Paramounts regretting you won the box office. The total, $49 million that closed out. the lowest grossing October for movies in 27 years. Jessica Eddinger, CNBC. Get exclusive reporting and data on high net worth investors,

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