CNBC Business News Update - Market Midday: Stocks Higher, White House Statement on Boeing Strike, Mortgage Rates At 19 Month Low 9/13/24

Episode Date: September 13, 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 Evinger, CNBC. It's Friday the 13th on Wall Street. Stocks are in the green this afternoon, having a lucky Friday. To wrap up the week, the Dow is up 338 points, eight-tenths of a percent. The S&P 500 index up 36 points, that's a half percent. The Nasdaq up 135 points, three- quarters of a percent. Now, companies whose shares have hit fresh all-time highs today include homebuilders D.R. Horton and Pulte Group, Walmart, MasterCard, Progressive Insurance, Boston Scientific, IBM, and Oracle, to name a few. Americans are feeling better about the U.S. economy. University of Michigan sentiment survey numbers, 69 on the headline. That's the best overall level since May. What lies ahead? Expectations. Same scenario, 73.0.

Best level since April. CNBC's Rick Santelli. Boeing factory workers on strike for the first time since 2008. Today, after overwhelmingly rejecting a new contract that union leaders had accepted, CNBC spoke with employees on the line. That original contract was garbage. We build airplanes. People trust us with their lives. I've been here for 27 years and had our pension taken, had everything taken away from us. We had stagnant wages for the last 12 years. I've been here for 18 years.

The pension is gone. More than 30,000 employees are on picket lines outside of Seattle today, halting production of most of the company's aircraft, including its best-selling 737 MAX. And the Biden administration has made a statement. The White House saying administration officials are in touch with Boeing and with the machinists. We encourage them to negotiate in good faith toward an agreement that gives employees the benefits they deserve and makes the company stronger. As you take a look at shares of Boeing ticking lower, two credit agencies, Moody's and Fitch, came out and put basically warnings on Boeing's credit rating.

CNBC's Phil LeBeau. The Jeep CEO enacting a turnaround plan. After five years of dropping sales for the American brand, parent company Stellantis has a target of selling a million Jeeps in the U.S. by 2027. Mortgage rates at their lowest since February of 23, heading into the weekend of home shopping for would-be buyers. The average rate on a 30-year fixed home loan, now 6.1 percent, according to Mortgage News Daily. New in theaters, Lionsgate's thriller The Killer's Game and Universal's Speak No Evil.

Universal is a sister company to CNBC. Jessica Ettinger, CNBC. The Investing Club. We're not about trading. We're about investing. Get invested. Join the club today. Go to cndc.com slash Jim's Club.