CNBC Business News Update - Market Close: Record Highs For Dow and S&P 500, First-Ever Crypto Market Manipulation Charges, Milton Closes Florida Theme Parks

Episode Date: October 9, 2024

The latest in business, financial, and market news and how it impacts your wallet, reported by CNBC's Peter Schacknow

I'm Peter Schach, now CNBC. Stocks have wrapped up another winning session with both the Dow and S&P 500 closing at record highs. The Dow rose 432 points to close at 42,512. The S&P 500 gained seven-tenths of a percent, or 41 points. The Nasdaq added 109 points, or six-tenths of a percent. The Nasdaq is still about 2% below its own record high, but did close at its highest since July 16th. Its most recent closing record was set on July 10th. Carol Schleif, chief investment officer at BMO Family Office,

likes the fact that the market is climbing the so-called wall of worry. Not only having the solid fundamental underpinnings keep coming through, but markets continue to do that grudging climb higher as opposed to when you have exuberance and everybody's really over their skis leaning into risk. Those tend to create a lot of bubble territory, but this grudging climb higher where people keep focusing on fundamentals, the great part is we've got the next four to six weeks chock full of fundamentals coming from company earnings. Four cryptocurrency companies and 14 individuals have been charged with market manipulation. Five people have already agreed to plead guilty in the first ever such prosecution in the crypto

sector. As Florida braces for Hurricane Milton, Walt Disney World and Universal Orlando have shut their doors with those theme parks not expected to open tomorrow. Another popular theme park, SeaWorld, did not open at all today. The 30-year mortgage rate jumped nearly a quarter point to 6.36% last week, according to the Mortgage Bankers Association. That is the highest in more than a year. Peter Schach now, CNBC. The vote. It's as American as apple pie.

As stars and stripes and spacious skies. It's iconic. You got the, as stars and stripes and spacious skies. It's iconic. You got the flag up now. Patriotic. And this November, we're all chanting. It's your turn. Step into the box and make it stick.

Voter up.