CNBC Business News Update - Market Midday: Stocks Higher, Consumer Confidence Falls, Helene Is Now A Tropical Storm 9/24/24

Episode Date: September 24, 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. Stocks modestly in the green this afternoon on Wall Street. The Dow up 28 points, being led higher by shares of Caterpillar, which are up 3.5%. The S&P 500 index building on the record high it opened with. It's up 11 points. The Nasdaq is up 103 points this afternoon. Companies who shares hit fresh all-time highs today include Caterpillar, Royal Caribbean Lowe's, Booking Holdings and Netflix. I think the reasons for the buying are fairly obvious. We are now into the Fed loosening cycle and the tightening cycle hasn't caused anything to blow up. Ritholtz welts Josh Brown on CNBC. September consumer confidence, though, came in surprisingly weaker,

falling the most in three years. The insurance industry watching tropical storm Helene now. It's been upgraded. Much of Florida is under a state of emergency as the storm is expected to strengthen into a hurricane. Novo Nordisk's CEO testifying at a Senate hearing today over high prices for weight loss drugs. Novo is based in Denmark. It makes Ozempic and Wegovy. Senator Bernie Sanders wants to know why Americans pay so much more for it than patients in other countries. Striking

Boeing workers rejected a new offer from Boeing management, which it called its best and final. Boeing's machinist union calling it a display of disrespect meant to divide striking union workers. In its offer, Boeing said it would, among other proposals, reinstate a performance bonus, improve retirement benefits, and double a ratification bonus to $6,000 should workers accept the terms by Friday. Now, union officials, which represent the 33,000 should workers accept the terms by Friday. Now, union officials, which represent the 33,000 striking workers, said the offer was thrown out without any discussion, did not meet basic demands, and setting up a vote by Friday was unfeasible. CNBC's Silvana Hanau.

PepsiCo's Mountain Dew brand is out with this year's Voodoo Mystery flavor. The Halloween tradition gets social media marketing traction as people try to guess what it tastes like. Jessica Ettinger, CNBC. The vote. It's as American as apple pie. It's iconic. Patriotic. And this November, we're all chanting, it's your turn. Voter up.