CNBC Business News Update - Market Close: Stocks Higher, S&P 500 Index And Nasdaq On 5 Day Win Streaks, Boeing Workers Strike, Gold At Record High 9/13/24

Episode Date: September 13, 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 and reported by CNBC's Jessica Ettinger.

I'm Jessica Edinger, CNBC. Wall Street opens Monday morning after a winning week for stocks, heading into what's expected to be a Fed announcement on Wednesday that it will cut interest rates. A lucky Friday the 13th for the markets with the Dow up 297 points, three quarters of a percent. The S&P 500 index up 30 points, a half percent, and the NASDAQ up 114 points.

That was more than a half percent. The S&P 500 index and the NASDAQ are now on five-day winning streaks. The S&P 500 index just notched its best week of the year, up 4 percent. Another record high on Friday for gold. It's 35th this year at $2,610 an ounce. Americans are feeling a lot better about the U.S. economy. University of Michigan sentiment survey numbers 69 on the headline. That's the best overall level since May. What lies ahead? Expectations. Same scenario, 73.0, best level since April. CNBC's Rick Santelli. Boeing factory workers on strike for the first time since 2008

after overwhelmingly rejecting a new contract that union leaders had accepted. CNBC's been on the line speaking with employees who are picketing. That original contract was garbage. We build airplanes. People trust us with their lives. employees who are picketing. That original contract was garbage. We build airplanes. People trust us with their lives. I've been here for 27 years and had our pension taken, had everything taken away from us. We had stagnant wages for the last 12 years. I've been here for 18 years. The pension is gone. More than 30,000 workers have walked out, halting production of most of the company's aircraft, including its best-selling 737 MAX jets. The Biden administration made a statement on

Friday. The White House saying administration officials are in touch with Boeing and with the machinists. We encourage them to negotiate in good faith toward an agreement that gives employees the benefits they deserve and makes the company stronger. As you take a look at shares of Boeing ticking lower, two credit agencies, Moody's and Fitch, came out and put basically warnings on Boeing's credit rating. CNBC's Phil LeBeau. Mortgage rates at their lowest since February of 2023, heading into a weekend of home shopping for would-be home buyers. The average rate on a 30-year fixed home loan, 6.1%, according to Mortgage News Daily. Here comes the holiday hiring.

Kohl's holding a national hiring event next Thursday and Friday. Lots of retailers and other businesses are now posting seasonal positions to find the help they need. New in theaters for the weekend, Lionsgate's Thriller, The Killer's Game, and Universal's Speak No Evil. Universal is a sister company to CNBC. Last week's number one, Plan B's and Warner Brothers' Beetlejuice Beetlejuice is expected to hold that spot this weekend. Jessica Ettinger, CNBC. The Investing Club. We're not about trading. We're about investing.

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