CNBC Business News Update - Markets Midday: Stocks Mostly Higher, New Intraday Record Highs For Nasdaq And Russell 2000, Tesla Teases Product Announcement, Two Big Regional Banks Join Forces 10-6-2025

Episode Date: October 6, 2025

The latest in business, financial, and markets news and how it impacts your money, reported by CNBC's Peter Schacknow Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

I'm Peter Shack now, CNBC. Stocks are mostly higher as the new trading week gets underway, with the markets largely shrugging off the government shutdown, at least so far. The Dow is down 87 points at 46,671. That is well-off session lows. The S&P 500 adding 27 points are 4 tenths of a percent. The NASDAQ composite three-quarters of a percent higher or about 166 points. And both the NASDAQ and Russell 2000 have hit record intraday highs today.

That government shutdown is proving to be an issue for the Federal Reserve since it's cut off the flow of government provided economic data. There are privately generated numbers like the ADP Private Sector Employment Report, but former Boston Fed President Eric Rosengrin says it's not quite the same. The ADP report is an indicator of payroll employment with people that actually use ADP, but it's not the same kind of sample that the Labor Department provides. So it's not that great for the Federal Reserve to have to be dealing with noisier data, but in circumstances like this, they really have no choice.

Advanced micro devices continues to lead the S&P 500 with a gain of about 29% following the announcement of a deal to provide artificial intelligence chips to chat GPT parent open AI. Tesla up 4% after the automaker teased a product announcement for tomorrow on social media, but it did not give any more specifics. Two regional banks will be joining forces with fifth, third, buying Comerica in an all-stock deal valued at about $10.9 billion. Comerica's stock is jumping more than 15%. Peter Shack now, CNBC.

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