CNBC Business News Update - Market Open: Stocks Mixed, Wholesale Inflation Ticked Lower In August, Oracle Shares Soar The Most Since 1999 9/10/25

Episode Date: September 10, 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 is mixed after a better than expected inflation surprise at the wholesale level for August. The Dow is down 55 points. Amazon shares dragging it lower. They're down 1.5%. The S&P 500 index popping to a fresh record high out of the gate. It's up 28 points. The NASDAQ is up 91 points this morning, almost a half percent. InVIDIA shares are soaring up almost. 3.5%. PPI for August was expected to be higher, but it ticked lower by a 10th of 1%. Probably the most important. X food, X energy, X trade, up 2.8. We started the year at 3.5. So these numbers have indeed moderated a bit. And now the inflation worry, at least on the wholesale side, gets mitigated a bit. Looks like the ease in September is going to go off his plan until we see CPI. That's CNBC's Rick Santelli. Sometimes what producers are paying for raw materials does get passed down and eventually hits consumers. We'll get a new read on inflation at the consumer level tomorrow morning with the CPI, the Consumer Price Index.

President Trump has been blocked by a judge from firing Fed Board Governor Lisa Cook. She is expected to vote on interest rates next week as the case winds through the courts. Mortgage demand popped last week. New data shows U.S. mortgage rates. rates declined last week to the lowest level in nearly a year. Mortgage activity, which includes home purchases and refinancing, rose to a three-year high. CNBC's Becky Quick, the average rate on a 30-year fixed home loan this morning is 6.2 percent, according to Mortgage News Daily. Oracle shares surging on big revenue gains from its multi-cloud database business. GameStop shares popped on

better than expected quarterly results. The video game chain also owns about a half billion dollars in Danish drug giant Novo Nordisk is firing about 9,000 people to streamline as competition heats up for its medicines like weight loss drug Wagovi. Klarna has priced its shares at $40. As it gets set to go public today, that's above the online lender's expected range. The buy now pay later company makes money by charging merchants a fee for allowing customers to use the service. It does charge customers' interest on longer-term financing products and late fees. Klarna and other pay-in-for companies compete directly with banks and their credit cards. CNBC's Andrew Ross Sorkin asked the CEO of Wells Fargo about that.

How do you think about the sort of buying out pay later and all of the sort of fintech companies that have come on that effectively are trying to compete away some of the more classic legacy businesses? It's competition. It's competition in lending. There's competition in the deposit space. You know, our view in terms of what we do and the benefits that we bring is it's a broad relationship. So it's not just about the credit card loan.

It's not just about the mortgage. It's about all the things that we do. And I think that's, you know, one of the huge benefits that a substantial institution like ours brings. Wells Fargo CEO Charles Sharf on CNBC. Microsoft out with security updates to fix more than 80 vulnerabilities in its Windows operating systems and software. Krebs on Security says these include patches for 13 flaws called

Critical. Jessica Eddinger, CNBC. September 16th, CNBC Game Plan, exploring the business of sports, music, and entertainment. Register now at CNBC Events.com slash game plan.