CNBC Business News Update - Market Midday: Stocks Higher, China May Block Boeing, B Of A Says Consumers Are Spending 4/15/25

Episode Date: April 15, 2025

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's in the green this afternoon, modestly higher. The Dow up 67 points, led higher by shares of Goldman Sachs up 2 percent this afternoon. The S&P 500 index up 13 points. The Nasdaq is up 39 points. Nvidia shares are up 2 percent after dipping into the red earlier. Boeing shares are lower on a Bloomberg report saying the Chinese government has ordered China's airlines to take no more deliveries of Boeing jets as the trade war hits one of America's biggest manufacturers. We're still waiting to see if the state government in China issues some kind of a formal statement because at this point this is just a report that is out there it has not been confirmed Boeing is

issuing no comment remainder of this year Boeing is expected to deliver 29 aircraft to China and through 2030 they're expected to deliver about a hundred and eighty six aircraft to China and remember it is the state government that makes the final decision in terms of whether a Chinese airline can take delivery of those aircraft. CNBC's Phil LeBeau. Bank of America out with strong quarterly results, and the CEO tells CNBC their customers have jobs and they're still spending. Our consumers in the first quarter of 25 moved 4% plus more money out of their accounts than they did in the first quarter of 25 moved 4% plus more money out of their accounts

than they did in the first quarter of 24. So the consumers are still spending money despite the polls that say they're going to stop. They have not stopped yet. Their credit quality is strong. They still have money in their accounts. They're employed and the wage growth has been stronger, strong. So unless we have more layoffs and more job loss, when that happens, the consumer will

slow down their spending. B of A CEO Brian Moynihan on CNBC. Apple reportedly brought in billions worth of iPhones into America in an effort to beat the Trump tariff turmoil. Reuters has some customs data that shows that Apple imported iPhones worth about $2 billion from India to the U.S. ahead of the Trump tariffs. CNBC's Carl Quintanilla. Luxury bellwether LVMH shares are lower.

It's the parent of Louis Vuitton, Tiffany, Sephora. Many designer brands had a tough quarter with a drop in sales. Hermes is now the world's most valuable luxury brand after the LVMH stock drop. American Airlines offering free in-flight Wi-Fi for members of its advantage loyalty program in January. It's already free on Delta and JetBlue. United Airlines did a deal with Elon Musk's SpaceX Starlink satellite Wi-Fi service. It plans to make Wi-Fi free for its frequent flyer members. Travelers

to London finding their American dollars buying less. The U.S. dollar is 6% weaker today than it was at the start of the year. The pound sterling at its highest against the dollar actually since last October amid the tariff turmoil. It is tax deadline day today. Jessica Eddinger CNBC. Welcome to CNBC Plus. Market destination. CNBC Plus. On the go access the global market data, news and analysis as it happens. Start streaming at CNBC.com slash plus.