CNBC Business News Update - Market Midday: Stocks Higher, IBM Shares Soar, Whirlpool Tanks on Weak Forecast 01/30/25

Episode Date: January 30, 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 Ettinger, CNBC. Wall Street this afternoon in the green with the Dow up 160 points, being led higher by shares of IBM, soaring up 13% this afternoon on strong quarterly results. The S&P 500 index is up 18 points. The Nasdaq keeping its head above water. It's up just one point. NVIDIA shares, they're down 3% this afternoon and more than 15% so far for this week. Could be its worst week since last September. Companies

whose shares have hit fresh all-time highs today include Walmart, Visa, 3M, IBM, Facebook parent Meta, Royal Caribbean Cruise Line, Capital One, MasterCard and Visa. Whirlpool shares plunging 17 percent this afternoon, wiping out all of last year's gains. The home appliance company reported mixed quarterly results with a weak forecast as the housing market is still slow. American Airlines shares are down a little more than one percent this afternoon. They've recovered a little after a regional jet with 64 people on board collided in midair last night with a Blackhawk military helicopter moments before the plane was supposed to land at Washington's Reagan Airport.

No survivors are expected to be found. The transportation secretary did say that he believes this collision was preventable. As for the experience of the pilots, here is American CEO Robert Isom. These are experienced pilots. I know that the captain had six years with PSA or almost six years with PSA and the first officer almost two years. And again, standard approach. And that's about all I can say.

You heard him say PSA. PSA Airlines is the subsidiary of American that operates the regional jets. All right, so what happens next? The NTSB is leading the investigation. The focus is on recovering the black boxes. That has so much information that we just don't have at this point. CNBC's Phil LeBeau. The health care industry closely watching the

confirmation hearing today for the new Secretary of Health and Human Services as Republicans' eye cuts in Medicaid, which would affect drug makers, hospital corporations, and nursing homes. If confirmed, will you stand up to the White House and say, no, we cannot throw millions of children off of health care, millions of elderly people out of nursing homes. All I am asking you, if that proposal goes through, will you say, hey, you're not making keeping America healthy by throwing children off of health care? Senator, I haven't seen any of the congressional proposals. I can only tell you what President Trump has told me, which is that he wants me to make Medicaid, Medicare, and Obamacare better. Well, if you haven't seen those proposals, I suggest you go to any newspaper.

They're there. Senator Bernie Sanders with HHS nominee Robert Kennedy. Facebook parent Meta shares were hired this afternoon on better than expected quarterly results. They didn't give full year guidance for the 2025 year, but they said they expect revenue growth to be strong. No explanation of how strong. They have various reasons why they're optimistic. I think they're going to be monetizing all these new areas. They just started testing ads and threads, but indicating that they do expect these AI investments to continue to pay off. CNBC's Julia Borsten. The Fire Aid Benefit Concert is tonight in Los Angeles, 10 Eastern, raising money for wildfire relief. I'm Jessica

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