CNBC Business News Update - Market Open: Stocks Higher, Nvidia Becomes The World's First 5 Trillion Dollar Company, Boeing Reports Solid Results 10/29/25

Episode Date: October 29, 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. 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 Eddinger, CNBC, Wall Street, with gains this morning ahead of President Trump's high-stakes meeting with China's President Xi tomorrow. The major average is all building on record highs they closed with yesterday. The Dow is up 150 points out of the gate. The S&P 500 index up 21 out of the open, and the NASDAQ is up 162 points out of the gate. That's up a little more than a half percent. The Fed expected to announce an interest rate cut this afternoon of at least a quarter percentage point. You'll pay slightly less an interest on credit card balances you're carrying and other adjustable debt. You have NVIDIA today, the first $5 trillion company right out of the open.

The first company to reach $5 trillion in market cap. President Trump said he may discuss NVIDIA's advanced blackwell chips when he meets with Chinese President Xi Jinping in South Korea. sales of the company's high-end chips have been really a major sticking point in China as a point of those talks between the two countries. CNBC's Dominic Chu, Apple, and Microsoft have valuations above $4 trillion this morning. Companies reporting results after the closing bell today include Google Parent Alphabet, Facebook Parent Meta, and Microsoft, along with Chipotle, eBay, and Starbucks, to name a few.

Boeing reported strong quarterly results this morning. morning. But shares were ticking lower. When you look at Boeing earnings, there were a lot of things to like. They had record deliveries this quarter. Things have been moving up to the right. And that's what investors want to see. The concern is the $5 billion charge in the triple 7X program. And investors were expecting about $4 billion. The concern here is that even though it's a non-cash charge today, and that's why the company was able to print positive free cash flow, this could have a multi-year effect on the company's ability to generate cash. Stanley's Christine Luag on CNBC. Federal air traffic controllers have missed their first paycheck in the government shutdown. So have TSA workers at airports. The jobs are deemed essential if they're working without pay. Millions of Americans are getting a first look. Meantime at the new dramatically higher prices for health insurance just days before Obamacare open enrollment begins on Saturday. A KFF analysis shows the monthly premium for the benchmark plan on health care.

Gov will soar 30%. Democrats want subsidies restored and are refusing to vote to open the government until those are. You can see the new rates for health care at health care.gov. More people applied for mortgages last week as interest rates hit their lowest in a year. Mortgage rates dropping to their lowest level in more than a year.

The average rate on a 30-year fixed fell to 6.3%. That's from 6.37%. That drove refinancing applications higher. by 9% from the prior week. Applications for new mortgages rose 5% from the prior week and were 20% higher year over year. CNBC's Andrew Ross Sorkin. The average rate on a 30-year fixed home loan today is 6.1%.

That's according to Mortgage News Daily. The mega millions jackpot has crossed the three quarters of a billion dollars mark. No winner last night. The next drawing is Friday night. 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.