CNBC Business News Update - Market Open: Stocks Lower, Correction Warning from JP Morgan CEO, Delta Airlines Out With Strong Results 10/9/25

Episode Date: October 9, 2025

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I'm Jessica Eddinger. CNBC, Wall Street is lower this morning. Day 9 of the government shutdown, the S&P 500 index and the NASDAQ each closed yesterday at record highs. The Dow is less than 1% away from its all-time high. But the major averages are in the red. The Dow down 120 points this morning. Boeing shares leading it lower. They're down almost 1.5%. The S&P 500 index down by 12 points. The NASDAQ is down by 12 points. The NASDAQ is down by, by 48 points. Envidia shares are in the green, soaring up 2.5% this morning. Gold is coming off yesterday's record high.

J.P. Morgan's CEO, Jamie Diamond, out with a warning for investors. He spoke with the BBC. You don't see a crash coming. You don't see a correction coming? I am far more worried about that than others. So if you said, now I'm talking about probabilities, I would give it a higher probability

than I think is probably priced in the market and by others. So if the market is pricing in 10%, I would price it's more like 30. So one third chance of a correction. Yeah, and I'm not saying next year. Because the timing of these things is almost impossible. So it could be what, six months? Could be a year? Could be six months?

Could be two years. J.P. Morgan's CEO, Jamie Diamond. Delta Airlines out with better than expected quarterly results today as the airline caters to premium flyers. When you take a look at Delta's results in the third quarter, they clearly, perhaps the best run airline right now. In terms of their profitability guys, they have knocked it out of the park in the third quarter, especially on the corporate revenue side. That is huge. Those are business travelers, and they are often paying premium prices, and that speaks to the

strength of the demand that Delta is seeing right now. That's CNBC's Phil LeBoe, meantime Delta, CEO Ed Bastian told CNBC that when it comes to airfares, the focus is on higher-end flyers. So there are fewer economy seats now, and that can mean ticket prices can be elevated. It's supply and demand. That's where it allowed the supply adjustments have gone in to try to balance out some of that. There were way too many seats in the marketplace earlier this year, chasing low-end consumers. And now I think that's getting a better balance. But I don't think the work is done yet.

PepsiCo, out with strong quarterly results today as international markets fueled sales growth there. Facing a government investigation into nearly 3 million Tesla vehicles over full-service driving traffic violations. Jessica Eddinger, CNBC. You come to my show and you learn how to do stops. Mad Money, Weeknight, 6 Eastern, CNBC.