CNBC Business News Update - Market Open: Stocks Mixed, Investors Waiting For Fed Chair To Speak And Evaluating New Tariffs, Target Shares Drop On Results & New CEO Named 8/20/25

Episode Date: August 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 Eddinger. CNBC mixed markets out of the gate this morning investors weighing new tariffs from the Trump White House as they wait for Fed Chair J. Powell's speech at Jackson Hole on Friday. We've got the Dow in the green up 69 points. It's being led higher by shares of Coca-Cola this morning up one and a half percent. The S&P 500 index down 18. The NASDAQ down 186 points, 8 tenths of a percent. And NVIDIA shares are down another 2% this morning after falling 3% yesterday. The White House expanded 50% tariffs to include car parts, plastics, and specialty chemicals and farmers now are crying out that the Trump tariffs are backfiring. China not buying this new crop of U.S. soybeans, the American Soybean Association said in a letter to the White House, soybean farmers are under extreme financial stress. Target shares plunging in early trading after sales. fail again in the last quarter and unworded CEO is stepping out of the role and long-time target insider Michael Fidelke will take the job to try to turn things around. No question Fidelke is going

to have a tough job coming in February 1. He's been at the company since 2003, started as an intern. So I had a chance to speak with Michael Fidelke, incoming CEO. We spent a lot of the conversation talking about sort of what's gone wrong and what targets special social. losses, how they get back, because it's obviously a very competitive retail environment. Walmart's taken a lot of share. My takeaway from Fidelke is it's the Targei. You know, we have sort of on-trend, design-led products at good values. That's what made people like Target. Maybe they got away from that. CNBC's Sarah Eisen. Here's SW Retail Advisors Stacey Widlitz on CNBC. The bottom line is Target is losing share in more than half of their categories. The stores are.

are a mess. They're in disarray, inventory shortages, labor shortages. Meantime, T.J. Max and Marshall's parent, T.J.X. Companies out with good quarterly results. It's raising its full-year outlook as it captures bargain-hunting customers. Lowe's shares were higher on better-than-expected quarterly results after Home Depot disappointed with its numbers that were out yesterday. Hertz shares popped. On Word, the rental car chain will sell its used vehicles on Amazon starting this week in 4. cities expanding to more down the road. Cruise lines changing summer, sailings out of East Coast ports to minimize the rough trip near high waves churned by Hurricane Aaron. Bermuda ports have been canceled or switched to Western Caribbean stops or Canadian ports.

McDonald's has signed K-pop group BTS for another Happy Meal Collaboration. The meals come with tiny tan toys inspired by each of the South Korean boy band's seven members. Jessica Eddinger, CNBC. Breaking earnings news this week on CNBC and streaming on CNBC Plus.