CNBC Business News Update - Market Midday: Stocks Higher, Nvidia Shares Pop 6% After Yesterday's "Deep Sink," JetBlue Says This Is A "Trough" Quarter 1/28/25

Episode Date: January 28, 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 and reported by CNBC's Jessica Ettinger.

I'm Jessica Edinger, CNBC. It's been a rocky day on Wall Street, but the major averages are higher after yesterday's deep-seek sell-off. The Dow is up 118 points this afternoon, a quarter percent being led higher by shares of NVIDIA, a stock that tanked yesterday. NVIDIA shares are up 6 percent. The S&P 500 index is up 45 points. That's three quarters of 1%. The NASDAQ up 325 points, one and a half percent. Companies whose shares have hit fresh all-time highs today include Amazon, Walmart, Facebook parent Meta, Olive Garden parent Darden Restaurants, JPMorgan Chase, and Royal Caribbean. JetBlue shares down on a weaker outlook for this current quarter. We're a leisure airline, a lot of trough weeks in the quarter, and that's what we're seeing. When you adjust for Easter, we look forward to

seeing improvements. We've got even more space launching today. We've got a preferred credit card launching in February, so we're on track for what we committed to do. JetBlue CEO Joanna Garrity on CNBC. Starbucks will report quarterly results after the closing bell this afternoon. It's expected to be disappointing, but some people are zooming out and are optimistic about the coffee chain's future. Well, I think everyone knows this is still going to be a tough quarter, right? I do think that if you look at U.S. traffic, it'll be a little bit less bad than the prior quarter. But I think you're going to start to see an upswing in the coming quarter. And as we go through this fiscal year, you're starting to see some of these small changes in U.S. stores. I'm pretty optimistic that

things can get better from here. Morgan Stanley's Brian Harbour on CNBC. Wendy's has teamed up with the Girl Scouts to introduce thin mint Frosties, but they won't be on menus for another three weeks or so. Jessica Ettinger, CNBC. Earnings season, the quarterly numbers as they break. The scorecard for the American economy. Earnings season on CNBC.