CNBC Business News Update - Market Midday: Stocks Higher, Salesforce Soars, United Health CEO Shot 12/4/24

Episode Date: December 4, 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 Ettinger, CNBC. We've got markets in the green this afternoon on Wall Street, the S&P 500 index and the Nasdaq, each building on the record highs they opened with this morning. The Dow is soaring up 251 points this afternoon, a half percent, led higher by shares of Salesforce, up eight and a half percent. The S&P 500 index is up 23 points. The Nasdaq is up 168 points. Companies whose shares have hit fresh all-time highs today include Amazon, Walmart, Apple, Netflix, and Salesforce. The CEO of UnitedHealthcare shot and killed in New York City today. Police are investigating. There have been reports that Brian Thompson was targeted. Full updates on CNBC TV and on CNBC.com.

Fewer jobs than expected were created in November in the new ADP private payroll report. What you're seeing is less energetic hiring in some places that had been really sound, like leisure and hospitality. Only 15,000 jobs created. This was the stalwart of 23 and 22. It's now slower. Manufacturing, we saw 26,000 jobs shed in manufacturing. This is a deeper decline than we've seen in past months, but this sector has been on the decline for the past two years. But overall, healthy number, still job gains. ADP economist Neela Richardson on CNBC, the number of jobs was 146,000. We get the big government jobs report on Friday morning.

Would-be homebuyers jumped to apply for mortgages last week. Potential homebuyers are responding to the lowest mortgage rates in over a month, as well as higher supply of homes for sale. While the numbers are still really low, applications for a mortgage to buy a home jumped 6% last week compared with the previous week. And that was to the highest level since January of this year, that according to the Mortgage Bankers Association's seasonally adjusted index. Now, the average rate on the 30-year fix for conforming loan balances dropped to 6.69%. That's for loans with 20% down. CNBC's Diana Olick, the average rate on a 30-year fixed home loan this morning is 6.85%, according to Mortgage News Daily. Amazon is being sued by the Washington, D.C. Attorney General, accused of excluding certain neighborhoods from prime delivery.

HBO Max, now called Max, is the next streaming service eyeing a crackdown on password sharing. Warner Brothers Discovery's president of global streaming said little reminders to its subscribers will be sent next week about sharing. This is according to Deadline. The crackdown is starting as what's called early gentle messaging. Starting today, Southwest Airlines is ending cabin service earlier on flights when the plane reaches 18,000 feet ahead of landing instead of 10,000 feet. They say it's to protect flight crews from injuries during turbulence and it means passengers will have to put their seats up and tighten seatbelts earlier. Dairy Queen is brought back the Peppermint Hot Cocoa Blizzard for December.

DQ is owned by Warren Buffett's Berkshire Hathaway. Jessica Ettinger, CNBC. Driven by money, power, and faith. Cities of Success, Salt Lake City, premieres December 10th and Eastern, CNBC.