CNBC Business News Update - Market Midday: Stocks Mixed, Tesla Shares On Pace For Best Month Since December, Canadian Travelers Avoid The USA 4/25/25

Episode Date: April 25, 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 Edinger CNBC. Wall Street is still mixed this afternoon. The Dow down 135 points. It's being led lower now by shares of Verizon. The S&P 500 index has been vacillating between red and green today. It is now up four points. The Nasdaq up 62 points this afternoon and video shares have popped up more than 2%. Tesla shares are up 8% this afternoon. The company is on track for its best month since last December, although Tesla shares are down 30% so far this year and almost 40% since Inauguration Day. President Trump says talks with China are on over the tariffs. China says no they aren't. CNBC Mad Money host Jim Cramer has this take.

I think that there are talks but I don't think they're at the level that matters and I think we should just continue to think that there is going to be a day that comes where everything is a lot more expensive. Another take now from Hayman Capital's Kyle Bass on CNBC, his outlook on China. They are facing a banking crisis, a youth unemployment crisis, a real estate crisis. You're asking me if we have more staying power.

We're the largest consumer in the world. We are still 4% of the population and 26% of global GDP. And we are the largest consuming nation in the world. Certainly we can outlast China. Are there a few places where things are gonna be painful? Yes, they are. There consuming nation in the world. Certainly we can outlast China. Are there a few places where things are gonna be painful? Yes, they are. There is no easy button here. We share none of the values of the Chinese Communist Party.

The one thing we want from them is cheap stuff. Xi Jinping has told us since 2017 that he's gonna take Taiwan, and he told us four times in four diplomatic visits in 2024. One of these days, we're all gonna believe him. Now I know our leadership and our military leadership believes him. One day Wall Street's gonna realize

that we've been trading with the enemy for too long. Bitcoin topping $95,000 today, it's highest since March 2nd. Google parent Alphabet shares were higher on stronger than expected revenue growth, but CEO Sundar Pichai says they're still trying to figure out the business model for Waymo self-driving cars. Intel out with a soft outlook because of customer uncertainty over tariffs. Its new CEO saying job cuts will start this quarter.

Amazon's sellers are raising prices across the platform in response to the Trump tariffs. Canadians who were put off by President Trump's bluster and border arrests are booking far fewer U.S. visits, according to the U.S. Travel Association. America is visited by more Canadians than any other country on the planet in a normal year. Vancouver-based The Travel Group tells the AP that the company's bookings to the U.S. have dried up. It's a near total collapse. The spring home selling season has been slow. In March, existing home sales dropped to their slowest pace since the great financial crisis in 09.

If mortgage rates could just head down towards 6 percent, 100 percent confident that we could get sales to grow this year, we are working from the lowest bar ever. And especially purchase application data. The last time it was this low was the 1990s. Housing wires Logan Motashami on CNBC. New in theaters this weekend Screen Gems horror film Until Dawn and Amazon MGM's The Accountant 2. Jessica Ettinger CNBC. Introducing CNBC Plus. Start streaming. Go to CNBC.com slash plus now.