CNBC Business News Update Market Midday: Stocks Higher, Bitcoin Tops $111k, Above Average Hurricane Season Predicted 5/22/25
May 22, 2025
The stock market shows promising gains, driven by giants like Nike and NVIDIA. Bitcoin has soared past $111k, making headlines. An above-average hurricane season looms, raising concerns. Housing inventory has skyrocketed by 9%, hitting a five-year peak. Plus, Trump tariffs are affecting car prices while Advance Auto Parts sees a stock rise. Nike's pricing strategy is also adapting to new retail challenges.
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Markets and Bitcoin Rally
- Stocks are moving higher with the Dow, S&P 500, and Nasdaq all up today.
- Bitcoin notably rallies to top a record $111,000, nearing $112,000.
Hurricane Season Outlook 2025
- NOAA forecasts an above normal 2025 Atlantic hurricane season with up to 19 named storms.
- Factors like warmer ocean temperatures and weak wind shear contribute to this prediction.
Job Market Mixed Signals
- Weekly jobless claims slightly decreased, indicating a still healthy job market.
- Yet continuing claims near 1.9 million suggest challenges for some workers to reenter employment.