CNBC Business News Update Market Open: Stocks Mixed, Bond Yields Higher On Budget Bill, Car Prices Up 5/22/25
May 22, 2025
Discover the mixed signals from Wall Street, where the Dow and S&P 500 struggle while the Nasdaq gains ground. Dive into the latest economic indicators, including jobless claims and corporate developments. The automotive sector shows a surprising reluctance from automakers to raise prices despite rising costs. Retail brands like Nike and Urban Outfitters adjust their pricing strategies, while luxury travel costs rise and Lowe's offers enticing promotions just in time for Memorial Day.
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Mixed Market Moves Due To Budget Bill
- Wall Street shows a mixed start due to rising bond yields from a costly budget bill affecting the deficit.
- The Nasdaq rises with strong tech like NVIDIA, despite the Dow and S&P 500 falling slightly.
Job Market Holding Steady With Challenges
- Unemployment claims dropped slightly but continuing claims remain above 1.9 million.
- This indicates the job market is steady but some workers face challenges reentering employment.
Rising Car Prices Shift Consumer Behavior
- Americans are likely to repair cars more than buy new ones amid rising prices.
- Car prices are up $825 on average year-over-year, while incentives have decreased significantly.