CNBC Business News Update - Market Open: Stocks Higher, ADP Says October Saw First Hiring Jump Since July, Novo Nordisk CEO On Weight Loss Drug Demand 11/5/25

Episode Date: November 5, 2025

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I'm Jessica Eddinger, CNBC. Wall Street rebounding from yesterday's sell-off now in mid-morning trading. We've got the Dow up 159 points. The S&P 500 index up 22 points. The NASDAQ's up 100 points, now almost a half a percent. The Supreme Court is hearing arguments on President Trump's tariffs. Treasury Secretary Scott Besson seated in the front row, a very large part of the tariffs that the president has a enacted this year are on the line here. The Trump administration is asking the Supreme Court where Trump has appointed three of the nine members to reverse a ruling from a lower court that found that most of the tariffs are an illegal use of the International Emergency Economic Powers Act. An estimated $90 billion in tariff revenue hangs on the high court's ruling here. The Treasury

has said it would most likely have to return that money back to the people who paid it this year if the Trump administration loses this case. Eamon Javers. There was a little glimmer of hope for the job market. ADP says private payrolls increased by about $42,000 in October. It was the first increase since last July. This is not the hiring rates that we saw at the beginning of the year. Far from it. But it is a recovery. It is not broad-based. We did see some gains in education and health care. We did note the gains in trade transportation and utilities. But there's some weakness. You see it in professional service. You see it in information services. When you think about the consumer, you see it in leisure and

hospitality. ADP chief economist Neela Richardson on CNBC. Investors grabbing it whatever data they can because the Bureau of Labor Statistics is dark in the government shutdown. And this is day 35 of the shutdown, the longest in U.S. history. President Trump breaking his own record. The previous longest shutdown was in the president's first term. It went 34 days. Today's day 35. McDonald's out with mixed quarterly results. We are seeing commentary around the Hispanic population and the fact that they are not gathering anymore. They're not, frankly, going out as much and things of that nature in a lot of different names. Right. And I think that wherever people gather to buy things, you have 16% of the populations that may be afraid to go somewhere. You're not

going to make your numbers. And I think it's starting to dawn on people that the biggest issue in this country is we can't find people to work. And the people who could work are afraid to go out of their homes. CNBC Mad Money host Jim Kramer with CNBC's David Faber. McDonald's Extra Value menu got new additions this week, including a lower price for a 10-piece chicken McNugget meal. Danish Ozemp maker Novo Nordisk, lowering its growth outlook for weight loss drugs, including Manjaro, under pressure to lower prices, especially in the U.S. but the CEO tells CNBC overall there should be a lot more growth for these kinds of drugs. Take U.S. as an example, 100 million patients that are suffering from obesity,

but yet Novo Nordisk and its competitors are providing affordable access to 3, 4 million patients. This is not really good enough. What about the other 96 million? I would like the next five years, the next 10 years, 15 years for many more patients to get access. Nordisk CEO Mike Dutstart on CNBC. Fewer people applied from mortgages last week to buy a home with interest rates moving around. Today, the average rate on a 30-year home loan, 6.3% according to Mortgage News Daily. Jessica Eddinger, CNBC. This December, CNBC opens its doors for an exclusive in-person experience at the iconic

NASDAQ market site in New York City. Fast Money Live, Trading the Holidays. December 11th, get your tickets. Now at CNBC Events.com slash fast money.