CNBC Business News Update - Market Open: Stocks Higher, Bitcoin Slides To $80k, Amazon Cuts Thousands Of Engineers 11/21/25

Episode Date: November 21, 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 and reported by CNBC's Jessica Ettinger. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

I'm Jessica Ettinger, CNBC. Wall Street's in the green out of the gate this morning. Modest gains after yesterday's sell-off. The Dow is up 170 points now. It's being led higher by shares of Home Depot up 1.5%. The S&P 500 index up 20. The NASDAQ up 71 points. Shears of Invidia down more than 1% out of the gate this morning. The president of the New York Fed said early this morning, There is room to cut interest rates, giving some investors hope for a cut at the December meeting. Williams comes on and then suddenly everything's fine. I don't think so. You don't think everything's fine. No, there's a lot of people have to get out. Let them get out. This is not what suddenly they wave a magic wand.

We always have real issues. We have issues with the building out the data center unlimited. We have issues with a lot of people, you know, the strategies, the micro strategies. That's CNBC's David Faber with mad money host, Jim Kramer. And here's Jim Kramer on Bitcoin, which is down around 80,000 this morning. It's lost about a third of its value just this month. The immersion of what's happened to Bitcoin is really incredible. It's the end of the year of magical investing.

CNBC, Mad Money host Jim Kramer, Bitcoin on pace for its worst months since it collapsed in 2022. One week from today is Black Friday for many retailers. The whole year comes down to sales over the next few weeks. And a number of retailers may not do so well. Consumers are looking for deals. They're trading down. They're a little cautious. If you're an Amazon or a Walmart and you can invest in price, convenience, and selection,

you're going to do all right. They have the big advertising businesses, giving them some profit to buffer them as well. And if you're anyone else, that's more discretionary spending led. you're seeing some troubles. The aisles, Jason Delray on CNBC. Amazon, meantime, cutting thousands of its engineers in its record job reduction, despite saying it needs to innovate faster. Gap shares were popping today on better than expected quarterly results,

not counting the pandemic, same store sales growth, the fastest in eight years. Gap's third quarter results beating forecast, same store sales jumping by 5%. That's the strongest growth since back in 2017. Thanks in part to the viral Better in Denham ad campaign with Girl Group Katzai. Our strategies are working. It's working across the board. It's clear. We're showing momentum. And it's not just old Navy, although I want to talk about it. Old Navy up six, Gap up seven, banana up four, gross margin, exceeding expectations. Gap CEO telling CNBC the holiday season is off to a great start and the company has not had to use as many promotions or discounts. CNBC's Frank Holland.

The Thanksgiving travel period is beginning today, including the flying frenzy. After the government shutdown forced airlines to cancel flights for safety with unpaid air traffic controllers taking time off to work second jobs to feed their families. We get the latest on consumer sentiment later on this morning. The Formula One Las Vegas Grand Prix festivities are on ahead of tomorrow night's race. New in theaters, searchlights, rental family, and universals. Wicked for Good. Universal's a sister company to CNBC. Jessica Eddinger, CNBC. Join the club with Jim's best deal of the year at CNBC.com slash club Black Friday. Terms and restrictions apply.