CNBC Business News Update - Market Close: Stocks Mixed, Commerce Secretary Pick Howard Lutnick, About 3/4 Of Americans Will Drive Somewhere For Thanksgiving 11/19/24

Episode Date: November 19, 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 Wednesday morning after a mixed Tuesday for the markets. Some unease as well for some investors about Russia and nuclear threats. The Dow fell 120 points, about a third of a percent, led lower by shares of UnitedHealthcare, down 2%. The S&P 500 index was in the green, up 23 points. The Nasdaq up 23 points. The Nasdaq up 195 points, more than 1%. Nvidia shares were up almost 5% on Tuesday. Companies whose shares have hit fresh all-time highs include Ticketmaster, Parent Live Nation, Walmart and Netflix.

Russia says Ukraine attacked it using U.S. long-range missiles. It's signaling it's ready for a nuclear response. Russia versus Ukraine is it using U.S. long-range missiles. It's signaling it's ready for a nuclear response. Russia versus Ukraine is not the story. It hasn't moved the markets for almost three years now. Yes, it did in the very start, but really, for the last three years, anything that's happened there hasn't moved the markets. Now, I don't want to jinx it, and then something unthinkable happens, but for now, that is the case, that this is a market that's likely to power through that.

Serity partners Jim Labenthal on CNBC. happens. But for now, that is the case that this is a market that's likely to power through that. Serity partners Jim Labenthal on CNBC. Cantor Fitzgerald's CEO is President-elect Trump's choice for Commerce Secretary Howard Lutnick, a Wall Street veteran and a billionaire. Howard Lutnick, the co-leader of Trump's transition, has been tapped to be Commerce Secretary. Now, this is a development that takes him out of the race for Treasury Secretary, the one we've been most focused on. And this is a job that will put him atop a really huge agency. He will have some powers and responsibilities over trade and export controls. You'll remember in the first Trump term that Wilbur Ross oversaw those Section 232 tariffs that went on steel and aluminum. So we'll have some trade responsibilities,

but others as well. It's a really broad agency that also oversees the CHIPS Act, the Weather Service, the Census. CNBC's Megan Casella. 72 percent of Americans will travel somewhere by car for Thanksgiving this year, a week from Thursday. GasBuddy says this is a big leap from last year's 41 percent, partly thanks to prices at the pump at multi-year lows. Drivers in at least 29 states now are paying sub three dollar a gallon gas. On Wednesday's watch list we get earnings from NVIDIA and Palo Alto Networks and more retailers like TJ Maxx and Marshall's parent TJX companies and Target. We find out how many people applied for mortgages last week, and Wednesday night sees the Country Music Association Awards Show from Nashville on ABC.

Jessica Ettinger, CNBC. Don't miss CNBC Pro's Best Deal of the Year. Sign up now at cnbc.com slash pro early access. Terms and restrictions apply.