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Closing Bell

Closing Bell: Record Levels Back on Watch 10/23/25

Closing Bell

CNBC

Business, News

4.8118 Ratings

🗓️ 23 October 2025

⏱️ 43 minutes

🧾️ Download transcript

Summary

Stocks jumped on the news that President Trump will be meeting with President Xi. We discuss that – and much more – will our all-star panel of Strategas Chis Verrone, JPMorgan Private Bank’s Abby Yoder and Charles Schwab’s Kevin Gordon. Plus, Notable Capital’s Jeff Richards tells us whether he is seeing signs of froth in the AI trade. And star analyst Stacy Rasgon tells us what Intel’s results in Overtime could mean for the rest of the chip space.

Transcript

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0:00.0

All right, Brian, thanks so much. Welcome to closing bell. I'm Scott Wobner, live from Post 9 here at the New York Stock Exchange. This maker breakout begins with the trade war latest, a high-stakes meeting between President Trump and China's President Xi now officially on the books a week from today. We'll have the very latest and what it means for your money coming up. That news did give the market a little bit of a boost. Let's take

0:21.0

a look at the majors here with 60 to go in regulation. They look pretty good led by tech and energy.

0:27.3

Oil is higher on those Russia sanctions today. We're watching all of that closely. Interesting price

0:32.9

action in Tesla as well. Rebounding after initially falling, following earnings. Take a look at the chart.

0:38.4

Tells a pretty good story. Stock's now up 1%. IBM is also trying to claw its way back.

0:44.0

Got a little bit more work to do, but nonetheless, it's off the mat and trying to go positive, too.

0:48.6

We're watching quantum stocks very much in the news today. Conflicting stories regarding government

0:53.1

stakes in those companies.

0:54.5

We'll have the latest there as well. American Airlines up on positive earnings. That's helping the

0:58.8

group overall. Take a look at that stock up here, 6%. It does take us to our talk of the tape.

1:04.2

What to expect from that on, off, maybe, and now scheduled meeting between President Trump

1:09.9

and President Xi.

1:11.1

Amon Javriss joins us now with more. So what's the latest here, Amin?

1:15.6

Hi there, Scott. Well, the White House says the meeting between President Trump and Xi Jinping will take place on Thursday morning next week in Asia, which of course will be Wednesday evening on the U.S. East Coast.

1:26.6

That meeting, you know, as you say, it's been on again and off again as President Trump

1:30.7

threatened to cancel it in the wake of those Chinese moves to constrain rare earth exports.

1:35.8

And then the president said it was back on.

1:38.1

And then earlier this week, he suggested, you know, it might not happen.

1:41.1

But for now at least, it does appear to be set on the schedule.

1:44.8

Yesterday, President Trump said he does expect to be able to cut a deal with the Chinese on everything from soybeans to rare earths to nuclear weapons.

1:52.7

And remember that the White House said back in September that they had a deal in hand for the sale of Chinese own TikTok.

1:59.4

That transaction not yet taken place. So add that

...

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