CNBC Business News Update - Market Close: Stocks Higher, Investors Wait For Jobs Data Coming Friday, Levi Strauss May Sell Dockers 10/2/24

Episode Date: October 2, 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 Thursday morning after a winning day for stocks. Modest gains, even though Mideast tensions are hanging over investors. Crude oil is still sitting around $70 a barrel. The Dow was up 39 points, led higher by shares of Salesforce, which were up 3%. The S&P 500 index up almost a point and the Nasdaq was up 14 points. Investors are waiting for the big jobs report that comes from the Labor Department on Friday morning. Wednesday, we got data from payroll company ADP, which says private companies added more new jobs last month than expected at 143,000. Big picture. It's still a bull market. It looks like it and acts like it in every significant respect, but it really has slowed down as this bull market gets ready to

enter its third year. It's often a more kind of sober plotting type of a tone. The fact that it can wait and see near the highs as we get this data on Friday is, you know, is certainly not a negative. CNBC's Mike Santoli, NVIDIA and Accenture announced an expanded partnership. The last 10 years, we've been focused on reinventing the computer, getting it ready for generative AI. What we're looking at now is the beginning of the next wave of AI, the biggest wave of AI. And this is really about companies around the world using AI to be more productive, as well as using AI, generative AI, to revolutionize the way they build their products. NVIDIA CEO Jensen Wong in an exclusive interview on CNBC. Levi Strauss' shares were lower in after-hours trading Wednesday night on a possible sale of the Dockers brand, where sales were lower. Michael Jordan's 2311 racing team suing NASCAR and its CEO Jim France for what it calls anti-competitive practices and monopolistic control of the sport.

Jordan says NASCAR is unfair to teams, drivers, and sponsors. The port workers strike that shut down 36 ports from Maine to Texas continues. 45,000 longshoremen walking picket lines. They say the key issue is automation that threatens their jobs. The biggest part of the negotiations that is not spoken about very much is that they want to stop technology from coming in and replacing their jobs while they're asking for 77%. You can't have it both ways. That's South Carolina Senator Republican Tim Scott on CNBC.

Now is the time to book your Thanksgiving, Christmas, and New Year's flights to get the lowest airfares. The best time to book those tickets is October. That is when, according to Hopper data, prices will be at their most affordable. CNBC's Ana Teresa Sola, she says the travel industry has already set a special sale day of its own in December for good prices, but those airfares may not be as good as they are right now. If you do miss by any chance this opportunity window of October, you do have like this quote-unquote last resort date, and that's December 9 or Travel Tuesday. That's when essentially most of the travel industry goes on sale. And it's kind of the same gist as Black Friday, Cyber Monday. You can find a lot more on

holiday travel spending at CNBC.com. On Thursday's watch list, we get earnings from Constellation Brands and we find out how many people applied for unemployment benefits last week. 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.