CNBC Business News Update - Market Open: Stocks Lower, Palantir Falls Despite Strong Results, Investors May Fear AI Shares Are Just Too High 11/4/25

Episode Date: November 4, 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 Ettinger. CNBC, Wall Street is in the red on this election day. The Dow down 275 points. The S&P 500 index, down 62 points. That's almost 1%. The NASDAQ pulling back by almost 300 points this morning. That's 1.5%. Voters are making governor choices in Virginia and New Jersey. Other key races are in New York and California. Treasury Secretary Scott Bessent told CNN. B.C. today that the White House has a backup plan if the Supreme Court finds that President Trump does not have the power to impose tariffs without congressional approval, which is what's happened. The White House declared emergencies and then declared tariffs under the International Emergency Economic Powers Act. There are lots of other authorities that can be used, but IEPA is by far the cleanest, and it gives the U.S. and the president the most negotiating authority. The others are more cumbersome, but they can be effective, less, it hinders the president's negotiating ability to be able to protect the American people and the American economy.

Palantir shares lower today. It reported strong quarterly results after the closing last night it makes software and has a lot of government contracts. Some investors are worried that AI-related stock prices might be getting too high. There are two subtle issues in AI. What is the addressable market and what is the addressable market for things that work? Palantir, we're in the business of a part of the addressable market where it works and it can be quantifiable, either commercially or on the battlefields. Every part of the stack is going to have to create more value than they charge. That's just obvious. And if that doesn't happen, it will be a bubble. That's Palantir CEO, Alex carp on CNBC. The whole interview is at CNBC.com. Pizza Hut could be for sale. Its parent company is Yumm brands. It's

looking at options. Yum also owns KFC and Taco Bell. Starbucks steaming up with Boyu Capital to run the coffee chain's China business. Starbucks has struggled in China against new competition from the Luckin coffee chain and others. Luckin already has stores in the U.S. YouTube, TV customers could not watch the Cardinals beat the Cowboys last night and Monday night football. The Disney ESPN channels are still off in a carriage dispute. Ferrari had a good quarter. It beat profit estimates.

Mondalese revealed new Thanksgiving-inspired Oreos. USA Today says the flavors include turkey and gravy cookies, cream corn, and pumpkin pie cookies. They're for sale on the Oreo website. They get delivered in a special tin. Jessica Eddinger, CNBC. We're celebrating our 30th anniversary. I think the investing market is all tailwind, except it can't possibly be.

Celebrating 30 years of Squackbox and streaming on CNBC Plus.