CNBC Business News Update - Market Close: Stocks Higher, Dow At Record High, A Quarter Million Jobs Added In US Last Month 10/4/24

Episode Date: October 4, 2024

From Wall Street to Main Street, the latest on the markets and what it means for your money. Updated regularly on weekdays, featuring CNBC expert analysis and sound from top business newsmakers. Anchored by CNBC's Jessica Ettinger.

I'm Jessica Edinger, CNBC. Wall Street opens Monday morning after a winning Friday for stocks on a booming September jobs report. The Dow soaring 341 points, eight-tenths of a percent, closing at a fresh record high, 42,352, led higher by shares of J.P. Morgan, which were up 3.5% on Friday. The S&P 500 index up 51 points, nine-tenths of a percent. The Nasdaq soaring 219 points, one and a quarter percent. There's no sensitive economic indicator right now that says recession. I mean, I think, you know, the trend is your friend here. Wharton Finance Professor Jeremy Siegel on CNBC. Investors are hopeful that the

U.S. economy will enjoy a soft landing as interest rates come down, especially after a blowout jobs report. A quarter million new jobs created in the U.S. last month. The September jobs report, 254,000, significantly better than 150 expected. The unemployment 4.1 4.1 it moved lower cnbc's rick santelli here's where a lot of that hiring was done the job gains 78 000 leisure and hospitality 71 000 health care construction also up 25 i don't know about you guys but when i drive around here um all I see is construction. CNBC senior economics reporter Steve Leisman, the CEO of the biggest bank in the U.S., says he has not endorsed Donald Trump for president. JPMorgan Chase CEO Jamie Dimon's

spokesman tells CNBC that Trump posted a false claim on his social media platform. The Chicken Big Mac will debut in the U.S. on Thursday nationwide at McDonald's. The double-decker sandwich, the same as the regular beef Big Mac, but the chicken patties are there battered in tempura. It's already very popular in the U.K. On the coming week's watch list, we get a big economic report, the latest on inflation, the CPI Consumer Price Index. That comes Thursday. We do have earnings coming from PepsiCo and Delta Airlines ahead of the unofficial start of earnings season with the big banks reporting on Friday, including JPMorgan Chase and Wells Fargo. The big retailers are starting their October deal days to get consumers to spend for Christmas early. Target with a circle week sale

Sunday the 6th through Saturday the 12th. Kohl's starts its three days of deals on Monday. Amazon and Walmart start sales on Tuesday. Jessica Ettinger, CNBC. The vote. It's as American as apple pie. It's iconic. You got the flag up now. Patriotic. And this November, we're all chanting, It's your turn. Voter up.