CNBC Business News Update - Market Midday: Stocks Higher, Disney Reports Results After The Bell, Boeing Starliner Aims To Launch Tonight 5/6/24

Episode Date: May 6, 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 modestly higher this afternoon. The Dow up 49 points. The S&P 500 index up 30 points. That's a half percent. The Nasdaq is up 109 points. It's more than a half percent. We're only two percent from the old historic highs. We're over the 50-day moving average again. So there's positive momentum in the market overall. CNBC's Bob Pisani. Companies whose shares have hit fresh all-time highs this afternoon include Colgate-Palmolive, Carrier Global and Goldman Sachs. Starbucks shares were ever so slightly higher after former CEO Howard Schultz posted a note online saying the coffee chain needs to fix its U.S. operations. He also wrote how to go about doing that.

Starbucks shares have been reeling from disappointing results. The most important line in this entire thing was that, and we're talking about the current CEO, is that senior leaders, including board members, need to spend more time with those who wear the green apron. One of their first actions should be to reinvent the mobile ordering and pay platform, which Starbucks pioneered. So right there, he's saying, listen, you can't get in and out. And that apparently is what hurting some of the loyalty. CNBC Mad Money host Jim Kramer. Disney reports quarterly results tomorrow. They're on a path. They're on a path. They're on a path for growth. Headed the right way. I think so. I mean, remember, they just came out of this brutal proxy fight.

And, you know, they spent the last year restructuring, or Bob Iger spent the last year restructuring, and now the focus is on growth. Bank of America Securities' Jessica Reif-Ehrlich with CNBC's Joe Kernan. Boeing is set to launch its Starliner to the International Space Station tonight. Launch window just after 10.30 p.m. Eastern. Two astronauts on board. Starliner aims to compete with SpaceX. SpaceX is four years ahead. The program has faced years of delays with previous unmanned test flights hit by software and equipment issues. Starliner will blast off on an Atlas V rocket from Cape Canaveral in Florida. And it's the first time astronauts ride an Atlas since Project Mercury in the 1960s. CNBC's Silvana Hanau. Jessica Ettinger, CNBC. Earnings season,

the quarterly numbers as they break. The scorecard for the American economy. Earnings season on CNBC.