CNBC Business News Update - Market Open: Stocks Bounce Higher, 3M Shares Up on Strong Quarterly Results, Gold Hits Fresh Record High 4/22/25

Episode Date: April 22, 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 stocks are bouncing out of the open this morning after yesterday's ugly sell off with the Dow down 900 points bond yields ticking quarter percent. The Nasdaq up 219, 1.3 percent. Nvidia shares are higher. They're up about one and a half percent this morning. Bitcoin at its highest in six weeks today, 88,800. Gold at another new record high today. As skittish investors look for a safe haven and the dollar weakens. The sell America trade continues as President Trump resumes his attacks on

Fed chair Jay Powell demanding the Fed lower interest rates as economists forecast a tariff induced economic slowdown. The actions of the administration don't appear to be backing up the the words of the administration certainly the Treasury secretary in public and we've seen this sort of sell America trade take place for a number of weeks now, where Treasuries are losing ground, the dollar is rolling over, and participants are rotating into other geographies around the world. That's Pepperstones' Michael Brown on CNBC. For individual investors, the market's been beaten up,

and some say it is time to go shopping. For us, we want to take advantage of these lower U.S. stock prices. For individual investors, the market's been beaten up and some say it is time to go shopping. For us, we want to take advantage of these lower U.S. stock prices. We want to step into the S&P 500. Retail clients are our bread and butter here at Wells Fargo Investment Institute. We want our clients to do what's really tough for them, which is the market's down, they're nervous, their friends are nervous. We want them to step in and buy stocks here. If they have any kind of a long-term view at all,

you need to step in when stocks are down and you're nervous. Wells Fargo's Scott Wren on CNBC. Lockheed Martin out with strong quarterly profit on resilient demand for defense equipment. GE Aerospace out with mixed results, but shares were higher. As we mentioned 3M shares rising on better than expected quarterly results. Verizon keeps losing phone subscribers. Its shares were lower. President Trump has been trying to revive the coal industry and coal plants are becoming hot again but it's not what you think. There is a key reason why coal assets are valuable and it's not the coal itself. It's that these plants are already

connected to the electric grid. So at a high level if you're a new power plant or a data center and you want to connect to the grid you have to wait in a long line which in some parts of the country is now more than five years long. But a currently operating or recently retired coal site already has the hookup to the grid, including the wires and substation and the rights to use it, which means repurposing an old coal plant can become a shortcut with a much faster timeline for powering up. And so what we're seeing is coal sites repurposed for renewable energy like solar and storage,

as well as for new data centers. CNBC's Pippa Stevens. Tesla reports quarterly results after the closing bell this afternoon. There has been some brand damage in eyes of a lot of customers, so so I think all eyes are on the company's updated guidance.

The number one thing investors are looking for is just reassurance regarding demand. The year is not off to a good start for Tesla. We know that their Q1 deliveries were down 13% year over year. CFRA's Garrett Nelson on CNBC. Jessica Ettinger, CNBC. Introducing CNBC Plus, the new streaming platform from the number one source in business news.

Watch live or on demand. Access any market, anytime, anywhere. Start streaming. Go to CNBC.com slash plus now.