CNBC Business News Update - Market Open: Stocks Higher, Gold Higher, Salesforce Shares Higher On Strong Forecast 10/16/25

Episode Date: October 16, 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 is higher out of the gate this morning on some strong earnings reports today, especially from Taiwan semiconductor selling a lot of AI chips. Also strong results from Charles Schwab. The Dow up 106 points, a third of a percent. Shears of Salesforce leading it higher, they're up almost 7 percent today. The S&P 500 index up 27 points, almost a half percent. And the NASDAQ is up 156 points, 7 tenths of 1%. The major averages are now higher for the month. Shares of NVIDIA this morning up 1.3%. President Trump says yes, the U.S. is in a trade war now with China. President Trump is saying that the U.S. and China are currently in a trade war. The president making that comment after the market's closed yesterday. But earlier in the day, Treasury Secretary Scott Besson and U.S. trade rep,

Jameson Greer stressed that Washington doesn't want to escalate a conflict with China. Greer telling reporters that China has not yet gone ahead with an updated regulatory system for rare earth minerals and said he expects the country won't pull that trigger. Besson suggested another temporary trade truce with Beijing as possible like the current 90-day agreement, which is scheduled to expire on November 10th. CNBC's Andrew Ross Sorkin. Salesforce stock jumping leading the Dow as we mentioned on a rosy, forecast for the next several years. Trucking company, J.B. Hunt, shares soaring on strong quarterly results. Shares of J.B. Hunt on the rise today and the leader within the S&P 500. The Transportation Services Company reporting a strong profit beat in its third quarter report. J.B. Hunt said

that efficiency in its truck rail intermodal business, the one that goes between the two, improved and led to a 12 percent increase in overall operating incomes. CNBC's Dominic Chu, United Airlines released quarterly results after the closing bell last night, earnings better than expected, but the airline had its third straight quarter where it missed revenue estimates. Almost every international region saw a decline in passenger revenue per seat mile at United, as many international travelers are avoiding the U.S. The government shutdown is not yet impacting air travel. I've actually been pretty impressed by the resilience of the system thus far, and we've seen a little bit of elevation and delays, but no spiking cancellations. And I would say the data looks more like a stretch of bad weather,

hit the system. You know, they've gotten a little bit more used to dealing with these type of shutdowns over the last dozen or so years. So the industry's built up some muscle memory. That's T.D. Cowan's Tom Fitzgerald on CNBC. Today, Denver is dealing with weather delays at Denver International Airport. That's a major U.S. hub. Nestle Shears jumping. The company says it's streamlining by cutting 16,000 jobs globally. The Switzerland. The Switzerland, based consumer goods giant makes foods like Gerber Baby Food, DeJorno Pizza, and Kit Kat candy bars. And gold coming off another record high yesterday. Again, it's higher today. $4,261 an ounce. Jessica Eddinger, CNBC.

Breaking earnings news this week on CNBC and streaming on CNBC Plus.