CNBC Business News Update - Market Open: Stocks Lower, Trump Urges Fed To Cut Interest Rates, Five Below Pops On Good Results 3/20/25

Episode Date: March 20, 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 is in the red this morning for the first day of spring. The Dow is down 155 points. That's four tenths of a percent being led lower by shares of IBM. They're down three percent. The S&P 500 index down 24 points, four tenths of a percent. And the NASDAQ is tanking 81 points. That's a half a percent.

Nvidia shares are in the green this morning. They're up a half percent. And shares of Tesla are ticking lower. Investors sending stocks lower as the ceasefire appears to be over between Israel and Hamas. And investors are also watching what President Trump is saying about interest rates. He's calling for the Fed to lower them to ease the economy's move toward his tariffs, which are widely seen to push inflation higher. Slightly more people applied for unemployment benefits last week. The numbers still right around the weekly pandemic average. Doge government job cuts won't show up in data until severance ends for most of those fired workers. The labor market, though, remains solid.

224,000 expected on initial, darn close, 223,000. We continue to be so well-behaved. We haven't been above 250,000 since the first week in October, of course, of last year. CNBC's Rick Santelli. Olive Garden parent Darden Restaurant shares are lower this morning. Sales disappointed at Olive Garden in the last quarter and at sister chain Longhorn Steakhouse. It's another indicator that consumers are pulling back their spending. Five below shares are popping up 5% at the opening bell on strong

quarterly results. The discount retailers often a choice for budget conscious consumers. There is one bright spot in the market so far today and it's not where you might think. This is five below. The discount retailer posted quarterly results that actually beat analysts' expectations. They also issued strong current quarter revenue guidance. The company warned though that tariffs could hurt margins, but CEO Winnie Park did say she thinks there's opportunity to diversify where five below sources its product CNBC's Dominic Chu. Tesla shares lower on news of another recall for the cyber truck.

It's the sixth since its debut a little more than a year ago. Nearly 50,000 cyber trucks have been recalled to fix an outside panel that can come off while the vehicle's moving and become a hazard for other traffic. Cover girl Max Factor and Kylie Cosmetics parent Cody, its shares are higher on an analyst upgrade after it got rid of its stake in haircare brand Wella. Wella is the parent of Clare All-Hair Color and OPI Nail Color. Major League Baseball has its traditional opening day today.

The NCAA March Madness Men's First Round Games are on and Dairy Queen handing out free small soft serve vanilla cones today for the first day of spring. Jessica Ettinger CNBC.