CNBC Business News Update - Market Close: Stocks Mixed, S&P 500 And Nasdaq Close At Record Highs, Fewer Americans Donate To Charity, McRib Is Back 12/03/24

Episode Date: December 3, 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 day Tuesday, but the S&P 500 index and the Nasdaq each closed at fresh record highs. Starting with the Dow, it was down 76 points, led lower by shares of Procter & Gamble, down 2.3%. The S&P 500 index was in the green by two points, and the Nasdaq was higher by 76 points. Companies who shares hit fresh all-time highs on Tuesday include Walmart, Costco, Facebook parent Meta, and Apple.

One expert tells CNBC with a Trump presidency and less regulation, the betting will continue. We're starting to see people move further out on the risk curve. For the last year and a half, people have made a lot of money buying strength and selling weakness. And when you do that, you continue to push your bets and push your bets. So this is an environment where people will continue to take on more risk. Wells Fargo's Chris Harvey on CNBC. Samsung, LG and Hyundai. South Korean companies whose shares suffered Tuesday when the country's leader declared martial law,

which Parliament there rescinded just hours later. The number of open jobs in the U.S. in October rose, rebounding from a three-and-a-half-year low in September. The number was more than 7.7 million openings, a little more than one job for every one unemployed person in the U.S. Still a lot lower than the 8.7 million open jobs in October of last year. Giving Tuesday put charitable giving on the front burner, and as it turns out, average Americans have been pulling back, according to a new Wells Fargo survey. Many have said they've pulled back, that when they were perhaps more flush

during the pandemic, not commuting, not having as many expenses. They felt like there was more to give. And then some were also mentioning the fact that they are not going to be able to get a tax deduction because they're going to take the standard deduction and not itemize their taxes. While you shouldn't give just based on a tax break, some are saying without it, that's not quite enough of an incentive to give right now when wallets are tight. CNBC's Sharon Epperson. Walmart has closed on its purchase of TV maker Vizio that will allow Walmart to better compete in the streaming business with Amazon Prime and Roku, according to The Hollywood Reporter. This past Sunday set the record for the number of people screened by TSA at U.S. airports in

one single day, but we may not see any records over Christmas time. With Thanksgiving, the Sunday after the holidays, the biggest travel day of the year, typically because most people need to get home for school and work. With Christmas, we are expecting about two and a half percentage points more capacity flying, but it will be spread over more days. So we might not see any record-breaking single days, but we are still expecting about 3.5 million seats to depart from U.S. airports every day of the week of Christmas. Hopper economist Haley Berg on CNBC.

McRib is back at McDonald's. McDonald's, McRib, it's your home. That's from a 1989 TV commercial. Prices vary vary the restaurant chain brings the sandwich back often for a limited time around this time of year on wednesday's watch list we get the pmis the purchasing managers indexes we also get the latest on factory orders the adp employment report will be out on november private sector hiring earnings Earnings are coming from RV maker Thor Industries. Campbell Soup. Chewy.

Dollar Tree. Cracker Barrel. Five Below Hormel Foods. And American Eagle Outfitters. And the Rockefeller Center Christmas tree lighting happens Wednesday night on CNBC Sister Network NBC. I'm Jessica Ettinger, CNBC. A money-making powerhouse driven by money,er, CNBC.