CNBC Business News Update - Market Open: Stocks Mixed To Start November, Winning October Is In The Books, Nvidia Pops Higher On Chip Sale Approval To UAE 11/3/25

Episode Date: November 3, 2025

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I'm Jessica Eddinger's CNBC mixed markets out of the gate this morning. The Dow is down 78 points. The S&P 500 index up 12 points. The NASDAQ's up 162 points, a little more than a half percent. This is the first day of November trading. Stocks put a winning October in the books. InVIDIA shares were popping this morning on U.S. approval of AI chip sales to the United Arab Emirate.

in a Microsoft deal. Kimberly Clark buying Kenview, which makes Tylenol for $48.7 billion. The combined company would bring together brands like Huggies and Kleenex with band-aids and Tylenol. Kenvue was spun out of Johnson and Johnson about two and a half years ago. As I reported earlier, these guys started talking back in June. In fact, Kimberly Clark was interested in acquiring this company in a reverse Morris trust deal before it even was spun by J&J. didn't happen. It was fun. It hasn't done well. You've shown that. No, I've been, but I got to tell you, I love this deal. Why? Okay, because where Kimberly is strong, they're not China. Where they're strong, Europe, Kimberly's not. Kimberly has an understanding

and data which shows that Tylenol has not been hurt by any of the problems that the governments talk about. That's CNBC Mad Money host Jim Kramer with CNBC's David Faber. Beyond meat shares falling on a delayed quarterly report, it says it's planning an impairment charge. Warren Buffett's Berkshire Hathaway reported strong quarterly results over the weekend. Earnings jumped 34%. Buffett will step down as CEO at the end of the year. Berkshire's holding a record $381 billion in cash right now. What does it say that their cash piles are hitting a record while everybody else is putting money

not only in mega-cap tech but other parts of the market, speculative bets. They're very disciplined. They have a very strong philosophy that, you know, Greg Abel, who's been there for 20 years, has been steeped in the Warren Buffen philosophy as well, which is why I don't think there is going to be a very large departure and investment strategy when Greg Abel actually takes the reins full time. Look, they're very disciplined, right? Let's hold on to our cash. Let's wait for the opportunities and then swoop in. And when we find something that we like, we're going to buy it in a big way. And that's what they've done historically. That's Vista shares, Adam Patty on CNBC with CNBC's Frank Holland.

The Trump tariffs are now higher on goods coming into the U.S. from India and not China. Americans importing from India pay 50%. Americans importing from China are now paying 47%. One economist sees inflation continuing to go up. This two-speed economy that we've been seeing with folks at the bottom and end of the income bracket struggling with higher default rates on credit card loans, auto loans, et cetera, et cetera. On the other end of the spectrum, you have high earners and especially those that have accumulated assets, still spending at a pretty good clip.

And I expect this dynamic to continue. I think the Fed's going to continue to cut, adding even more fuel to a market that's already running pretty hot in my view. And I think this risk-stoking inflation even further. And inflation is a stealth tax that disproportionately harms lower-income individuals, and I'm It's fearful that we're going to see a re-acceleration of inflation into 2026. That's Nataxis economist Christopher Hodge on CNBC. The nation's largest fleet of Tesla cyber trucks is now patrolling the streets of Las Vegas.

Each truck cost up to $115,000, and Las Vegas bought 10 of them. Jessica Eddinger, CNBC. Get exclusive reporting and data on high net worth investors, family offices, and alternative investments. from the foremost authority on private wealth, Robert Frank. Get the weekly newsletter and special access to events at cnbc.com slash inside wealth.