CNBC Business News Update - Market Open: Stocks Mixed, Bond Yields Higher On Budget Bill, Car Prices Up 5/22/25

Episode Date: May 22, 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 Edinger CNBC. Wall Street is mixed out of the gate this morning. Bond yields climbing higher on the costly budget bill that passed the House, which adds to the American deficit. We've got the Dow down 60 points, the S&P 500 index down four, the NASDAQ is in the green and up 40 points as Nvidia is up a half percent. Bitcoin rallying topping a record $111,000 today. Slightly fewer people applied for unemployment benefits last week, a sign of a job market that's still holding up. But the number of continuing claims was above 1.9 million. The 1.9 million on the continuing claims, that's something to watch. It would suggest a little bit of trouble of people who lose work getting back into the workforce. But the flow in through the jobless number is still suggesting a healthy job market.

CNBC's senior economics reporter Steve Leesman. Walmart meantime cutting 1,500 jobs. Microsoft warning that nearly 400,000 Windows computers are infected by the Luma Steeler malware. It steals passwords, credit card data, bank account data, and more. The U.S. Department of Justice took control of Luma's central command structure to kill the online marketplaces where criminals were buying that malware. Advance auto parts shares are soaring on better than expected quarterly results. Investors are betting that Americans won't be buying as many new cars

and instead will keep paying to fix up the ones they have. But automakers do expect to sell some cars this weekend for the Memorial Day holiday. The impact of the Trump tariffs though is already starting to show up on dealer lots. Nobody wants to be the first one to raise prices, let' SUV or a crossover utilit popular segment where som the street. Well, JD Power the first half of May and

here, this portends what the rest of this year. Av over year up $825. The av is what the automakers an the dealers use to sweeten the deal, to get you out the door so you can say, yeah, I got a good deal here. It's down $263. CNBC's Phil LeBeau. Nike says it's raising prices on a whole lot of its products, not all of them, and it was careful to not blame the Trump tariffs. Nike also says it will start selling on Amazon again.

Urban Outfitters shares soaring. The retailer reported strong results. Airlines trying to adjust as luxury travelers pull back their spending. But if you're looking to fly to Europe, business class this summer, there are some deals. Americans are still traveling, but what the airlines need are those premium customers

paying a lot of money to fly to Europe. This is when they make a lion's share. It's not necessarily not happening, but you know April is a time when a lot of luxury people say I'm pulling the trigger on that Europe trip. And I've talked to a lot of luxury travel advisors who say people are still on the sidelines. And we've actually we worked with the firm called Points Path to look at airfares domestically and internationally for this summer compared to last year. And we're seeing 7% down international. That's the Points Guy, Brian Kelly on CNBC. Jessica Edinger, CNBC.

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