CNBC Business News Update - Market Open: Stocks Mixed, Bitcoin Holding Around $93k, Macy's Notes A Cautious Holiday 12/3/25

Episode Date: December 3, 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 and reported 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. Out of the gate this morning, the markets are mixed. The Dow up 44 points. Shares of drug maker, Mark, leading it higher. They're up a little more than 1% this morning. The S&P 500 index is in the red, down 5. The NASDAQ also lower, down 90 points. Shares of NVIDIA are down 3 quarters of 1%.

Bitcoin continues to bounce up at about a two-week high, up around 93,000. If we look at Bitcoin, it's around 25% off, it's all-time high. That, in historical cases, hasn't necessarily signalled a bear market. So when we look at some of the old crypto winters, these big drawdowns, we are often used to 70 to 80% on Bitcoin off its all-time highs. And so there is a debate right now about where are we in this current crypto cycle. That's CNBC's Arjun Carpal in London.

Macy's out with its strongest quarterly growth in three years, but shares are lower this morning after a cautious note on the holidays. So I spoke with CEO Tony Spring, who said, look, we see a resilient consumer. The fourth quarter guidance takes into account our prudent view that we're going to see a more choiceful consumer. And let me just say, by prudent, I mean sensible, well-informed, and thoughtful. And then he also said regarding prices, if you looked within any given category, there is, merchandise that is more expensive than it was a year ago. In some cases, there is improvement in the quality or embellishment in the fabrication. In other cases, the price has simply gone up. CNBC's Courtney Reagan. Private employers shed jobs again in November.

As the labor market slowdown continues in new data from ADP, private payrolls fell by 32,000 last month, led by steep, small business job cuts. And people who are staying in their current jobs, no matter the size of the employer, they're getting smaller raises in the new data, too. Car dealers are really down on their business with new car prices now at record highs. CNBC's Phil LeBoe has the latest from Cox Automotive. Dealer sentiment for the third quarter, it's not good. In fact, they are seeing slowing traffic. It is the lowest dealer sentiment on consumers buying new vehicles since 2020.

That's CNBC's Phil Leboe. You think dealers want to tell you that if you want a new car, you'll have to take a seven year loan to make the payment work in your budget? A seven-year loan is 84 months now. You might need an eight-year car loan. Well, we have definitely seen growth in the 84-month loans. And we continue to see some growth in loans that are above 84 months, you know, 85 plus, even loans above 96 months. However, it's a very small percentage. I mean, we're talking less than a quarter of a percentage of all loans are going to be over 96. But the 84-month loan, continues to grow. That's experience Melinda Zabritsky on CNBC. Powerball jackpot tonight,

eighth largest in the history of the game at $775 million. The Rockefeller Center tree lighting ceremony is tonight in New York. Jessica Eddinger, CNBC.