CNBC Business News Update - Market Open: Stocks Mixed, Inflation Cools Slightly, United Health CEO Steps Away 5/13/25

Episode Date: May 13, 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 Eddinger, CNBC. Wall Street opens mixed after yesterday's rally. The glow of trade talks with China fading. The Dow being dragged down by shares of UnitedHealth, which are down 11% this morning. Its CEO is stepping down. It was a surprise. The company has suspended its annual forecast. The Dow down 197 points a half percent the S&P 500 index up one point the Nasdaq's in the green it's up 72 points four tenths of one percent inflation came in slightly cooler than expected in April in the new CPI report the consumer price index measure of inflation at two point three percent the smallest increase in four years in what economists call a final

lull perhaps before tariffs turn it higher. Somewhat better news on so-called headline for sure. The core inflation number has moved sideways at 2.8. That's not exactly moving directly towards 2. Former Fed vice chair Roger Ferguson on CNBC, the Fed's goal is 2% inflation. The US isn't there yet. Another take on the inflation data from Morgan Stanley, chief economist Ellen Zentner on CNBC. Look, this number doesn't matter

because the tariff effects are gonna really start to show up in next month's number. President Trump in Saudi Arabia on his first overseas trip of his second term with CEOs from major companies joining him, including Elon Musk, Nvidia CEO Jensen Wong, Open AIs Sam Altman, Black Rocks Larry Fink, AMD's Lisa Sue, Amazon CEO Andy Jassy, and the president of Google parent Alphabet and the CEOs of IBM, Palantir and Qualcomm, to name a few. Look, the relationship between Saudi and the United States was always very strong.

It is now, it keeps getting stronger. It's in our interest to make sure that the Middle East is on the U.S. side when it gets to our fight with China. This is as much about China, this visit and this trip, and why President Biden went, and why we strengthened the relationship with the Gulf. We need allies on our side if we're going to be in an economic war with China. And we're in one. TWG's Amos Hochstein on CNBC. He's President Biden's former senior adviser.

Toyota giving the one all electric vehicle, it says in the US, a new name and some upgraded technology instead of calling it the BZ4X. The car is just going to be called the BZ. It's poised to compete with the Tesla Model Y and the electric Chevy Equinox and the electric Blazer. The BZs are made in Japan and start around $37,000, but that's before tariffs. Coinbase shares were popping as the crypto exchange is set to join the S&P 500. The company will replace Discover Financial, which was bought by Capital One. The Cannes Film Festival begins in France.

Hollywood is there. Amazon's two-day pet day sale is on. Jessica Ettinger, CNBC. You come to my show and you learn how to do stocks. Mad Money, weeknight, 6 Eastern, CNBC.