CNBC Business News Update - Market Open: Stocks Sell Off, Airline Shares Lower On Canceled Flight Order, October Announced Firings Lowest In 22 Years 11/6/25

Episode Date: November 6, 2025

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I'm Jessica Eddinger, CNBC. The Dow plunging AI stocks resuming their fall today. The NASDAQ plunging 1.5% in late morning trading. The Dow is now down 455 points, 1%. The S&P 500 index, down 60 points. That's 1%. The NASDAQ falling 377 points. That's 1.5%. NVIDIA shares are down 2.5%. airline shares are lower. They're poised to lose daily revenue with the FAA forcing the cancellation of 10% of all flights at 40 airports around the U.S. starting tomorrow to ease the burden on air traffic controllers who've been going without paychecks in the record long government shutdown. A pilot's union spokesman and pilots says pilots are all for it. This is the right thing to do. You're getting ahead of something before there's an incident or an accident. So while the negotiations may be righteous, we don't have time for. that in my cockpit. Pilot union spokesman Captain Dennis Tager, an American Airlines pilot on CNBC. Job cuts in October hit the highest level for the month of October in 22 years. Employment firm Challenger Gray and Christmas says businesses announced more than 150,000 firings last month. That was a surge from September. When I saw those Challenger Laos, that can't just be people just saying, AI. There is really.

in this country a sense that this thing is really causing the shutdown you mean on labor yeah yeah i mean the challenger layoffs we saw the government data but it's the most for an october since o three the most for a quarter since oh eight and of course the most for a year since 2020 look i mean there it is one of the reasons why two-thirds of the stock market keep going down is because the country's slowing down big and the president may not be aware of this cnbcc mad money host jim mcramer with CNBC's Carl Keentania. Tesla's annual shareholder meeting set for tonight, the results of the shareholder vote will be revealed on whether they say yes to CEO Elon Musk's trillion dollar pay package. Musk had said, if it's not approved, he's walking. We should get the results, guys,

shortly after the shareholder meeting starts at 4 p.m. this afternoon. I'm going back to January 23rd, 2018. Remember that? I remember that day, guys. That's when the previous pay package was announced. And at that time, there were a ton of people who said, yeah, he might hit a few of these. There's no way he hits them all. Guess what? He hit them all. And we know everything that took place following the award of that pay package. I was held up, ultimately shot down in court in Delaware. That process is still playing out in terms of whether Elon Musk gets some of that money. CNBC's Phil LeBoe. Diageo. The mayor, maker of Johnny Walker, Guinness, Smirnoff, and Moore slashed its sales and profit outlook after

a sobering quarter weakness in U.S. China weakness in U.S. and China demand shares of Diageo at their lowest level in a decade. Peloton recalling more than 800,000 bikes over a seat post issue, two injuries reported. That's every bike plus model ever sold should stop being used. The company's offering a free seat post that can be installed. home. Toyota recalling more than a million cars over malfunctioning rearview cameras. The National Highway Traffic Safety Administration says more than 100 different models in years of Toyota, Lexus, and Subaru vehicles are being recalled. Thanksgiving is three weeks from today. Jessica Eddinger, CNBC. My name is Josh Brown. The best stocks in the market is very simple.

These are stocks with good fundamentals in the process of rise and higher. Join Pro for exclusive access to Josh Brown's best stocks in the market at CNBC.com slash best stocks.