CNBC Business News Update - Market Midday: Stocks Mixed, Nvidia Lower After Earnings Report, Nike To Slash Corporate Jobs 8/28/25

Episode Date: August 28, 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 is now all in the green this afternoon. The Dow up 35 points being led higher by shares of Salesforce, which are up 1.5%. The S&P 500 index up 11 points. It's set a new record high today. The NASDAQ up 92 points now, 4 tenths of 1%. Invidia shares are still lower after earnings last night. They're down little more than 1% this afternoon. Nike. says it's cutting 1% of its corporate staff to try to continue to refocus the business. Best Buy says it raised prices in the last quarter because of tariffs, but it had some good quarterly results. Best Buy, topping expectations for both the top and the bottom line, putting up the strongest comparable sales result in three years, while it raised some prices due to tariffs, gaming, laptops, those sold well, but appliances, home theater, those lagged.

CNBC's Courtney Reagan. Lisa Cook has officially sued President Trump after he moved to fire her. The issue will now go to court. The president is interested in getting the Fed to lower interest rates and replacing as many Fed board members as possible. Another slow summer in the residential real estate business and a lot of would-be home buyers signed contracts to buy a house and then canceled them. Pending home sales in July dropped 0.4% from June, according to the realtors. The street was looking for a tiny game. of 0.3%, so let's just call it even. Now, this count is based on signed contracts, so people out inking deals in July. Regionally, sales dropped month to month in the northeast and Midwest.

They were flat in the south, and they rose in the west. Now, given that these are signed contracts that also want to note a very recent report from Redfin that found these contracts being canceled at the highest rate since they began tracking this in 2017. 15% of homes that went under contract in July says Redfin were canceled. CNBC's Diana Oleg. Pop Mart's new mini-la-bubu keychains go on sale tonight, 10 Eastern. And they're for sale on its website. These keychains come in blind boxes.

They're $24 each, not including tax and shipping. Jessica Ettinger, CNBC. Football season is back. Sports business expert Mike Ozanian breaks down the latest numbers. The biggest and most profitable sports league in the world. NFL team valuations September 4th, CNBC.