Closing Bell Overtime: Shutdown Extends, Commodities Plays & Restaurant Woes 10/03/25

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 3 October 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Former OMB Director Mick Mulvaney breaks down the shutdown showdown and its market impact—plus what the next key dates are for both sides. Warren Pies of 3Fourteen Research weighs in on the oil-versus-gold trade. TD Cowen’s Andrew Charles explains fresh moves in the restaurant space and why some brands are lagging with younger consumers. Our Contessa Brewer covers the bounce in sports betting stocks. Plus, Neil Dutta of Renaissance Macro looks ahead to the key economic catalysts on the horizon.

Transcript

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0:00.0	Well, that's the under regulation. Future Crest ringing the closing ballot, the New York Stock Exchange,
0:04.0	bridge bioancology, doing the honors at the NASDAQ. All of the major averages, Russell 2000 included
0:09.7	hitting record highs today and intraday trading. The Dow crossing 47,000 for the first time ever,
0:15.8	closing right there on your screen at a record high. The NASDAQ pulling back to close fraction fractionally lower and it looks like, oh my gosh, just barely.
0:24.4	We got a new record closing higher for the S&P as well.
0:28.0	But on the week, a lot of green on the screen, 1% gains across the board.
0:32.1	Healthcare and utilities are the winning sectors today and this week.
0:35.4	Healthcare having its best week in three years.
0:37.4	Concerns about the consumer though, discretionary stocks lower on this week. Healthcare having its best week in three years. Concerns about the consumer, though, discretionary stocks lower on the week.
0:41.5	Once again, we are seeing the precious metals move higher. Gold, above 3,900 now. Silver's up
0:48.1	3%. Cryptocurrencies also rallying. Bitcoin getting close to its all-time high of 124,000
0:53.9	and change.
0:55.1	That is the scorecard on Wall Street.
0:57.1	Welcome to closing bell overtime.
0:58.7	I'm Morgan Brennan.
0:59.9	John Ford is off today.
1:01.4	Well, the market's shaking off the government shutdown for now.
1:04.7	But OMB director, Russ Vote, is threatening permanent layoffs and other cuts.
1:08.7	We're going to talk to former OMB director Mick Mulvaney about what the lasting impact could be.
1:14.7	And as I mentioned, concerns about the consumer.
1:16.9	One place where we're seeing at restaurant stocks, big losses this year could it get even worse?
1:22.1	Well, let's begin with markets hitting new highs.
	...

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