CNBC Business News Update - Market Open: Stocks Lower, Frontier Takes A Swipe At Southwest With Free Bags, Astronauts On The Way Back 3/18/25

Episode Date: March 18, 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.

I'm Jessica Ettinger, CNBC, Wall Street in the red, out of the gate this morning. Investors worried about tariffs and slowing US economic growth. The Dow down 132 points, three-tenths of a percent being led lower by shares of Nvidia, which are tanking almost 3% this morning. The S&P 500 index down 38 points, that's a half percent. The Nasdaq down 226 points. That's a half percent. The NASDAQ down 226 points. One and a quarter percent. Tesla shares are down another 5% today.

Slower economic growth could be ahead with risk of recession rising. This is according to the new CNBC Fed survey. Respondents to the CNBC Fed survey boosted their outlook for recession this year, lowered their growth forecast, and grew more worried about inflation changes that appear linked largely to administration,

policy, and uncertainty. And the recession probability rose to 36%. That's from 23%. Now at the highest level since September. CNBC senior economics reporter Steve Leesman. The Fed has started a two-day meeting on interest rates. It's widely expected to hold them steady as it waits for more economic data related to the new administration, slashing government jobs and starting a tariff war with Canada

and Mexico. The announcement comes Wednesday afternoon. Home builders started construction on more homes in February, possibly pulling forward starts from January, which had some tough building weather. The February housing starts number was still lower than the same month last year, though. Now part of this may have been there was a lot of noise in the January numbers about bad weather, exceptionally cold winter. You may have been taking some of those January starts and moving them into February. There's still very lean supply on the existing side and that existing side is very expensive. The spread

between new home prices and existing home prices is shrinking dramatically which means there's not that much of a premium for new and the builders may be paying into that because they can buy down mortgage rates. CNBC's Diana Olek frontier airlines taking a swipe at Southwest, which announced no more bags fly free as it tries to squeeze more money out of passengers. Free checked bag, free assigned seats, free ticket change if you need to change your tickets. Why not make this a permanent move? Why is this only promotional through August? Well look the bottom line is this is a game changer for us? We're going to offer you more for less.

But if we don't get the volume, then we're going to come back to just being a level playing field. But either way, this is a checkmate situation for Frontier. Everyone can now see, millions of people can see that we're a better total price. Because we've seen what's happened, and all of the outcry for free bags,

we're giving people an opportunity to put their money where their mouth is and come make Frontier the new airline. Barry Biffle joining us from Frontier's headquarters in Denver. CNBC's Phil LeBeau. Boeing, Starliner astronauts Butch Wilmore and Sonny Williams, who were supposed to be

in space nine days, coming back after more than nine months around 6 p.m. Eastern today on a SpaceX capsule. The splashdown will be on the Florida coast, weather permitting. They're Eastern today on a SpaceX capsule. The splashdown will be on the Florida coast, weather permitting. They're coming back on the on the SpaceX vehicle that's been up there with them since the fall, so safety has never been compromised. It's a credit to NASA and to the team. You know, you never know, and it could be issues with a SpaceX vehicle someday. The Soyuz, the Russian spacecraft, which has been a very reliable spacecraft. A couple years ago, Frank Rubio,

another astronaut, was on board a Soyuz going to the space station. There was a leak in that Soyuz once they got there. They returned that Soyuz empty, sent up another Soyuz for Frank and his crew.

They went from six months to over a year. Their ride changed, but they always had a way to get home. That's NASA astronaut Mike Massimino on CNBC. Jessica Edinger, CNBC. Tonight, Kramer on the road from San Francisco. Mad Money Out West. Tonight 6 Eastern, CNBC.