CNBC Business News Update - Market Midday: Stocks Higher, Wholesale Inflation Higher, Job Market Still Solid 2/13/25

Episode Date: February 13, 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. Even with another disappointing inflation read, this time at the wholesale level for January, stocks are higher as bond yields retreat. That's pushing the markets up. The Dow is up 113 points, a quarter percent, being led higher by shares of Nvidia. They're up 3% this afternoon.

The S&P 500 index up 29 points. That's a half percent. The Nasdaq is now up 162 points, eight-tenths of one percent. Companies whose shares have hit fresh all-time highs today include Walmart, Visa, Cisco, Facebook, Parent Meta, Netflix, T-Mobile, Hilton, Costco, and grocery chain Kroger. Inflation on the minds of investors. CNBC spoke with the National Economic Council director in President Trump's first term about it. Higher prices and less purchasing power drove people to the polls and got him elected and got him a mandate. They won the Senate. They won the House. So how does he get inflation down from here when some of the policies he's talking about could be inflationary?

Look, this is an interesting discussion. Number one, look, energy is important. The administration has talked about lowering energy costs. That will take some time. Now, look, prices aren't going to fall out of bed. We can go down 10% from here. It's not just oil, Gary. You know, it's housing.

It's auto insurance. So we've got to start with energy. IBM Vice Chairman Gary Cohn with CNBC's Sarah Eisen. Fewer people applied for unemployment benefits last week than expected, and the number is well below the pre-pandemic weekly average of 225,000 people every week applying for benefits. 213,000. That follows a slightly revised 220,000. And the best way to look at this is we haven't been over 250,000 since the first week in October of last year. CNBC's Rick Santelli. Coffee chain Dutch Bros shares surging

more than 20 percent on super strong quarterly results and profit. Ticker symbol BROS. How is it not going to be one of these day trader favorites when the symbol is bros? Okay, and that's kind of the way it's going to go. But even at this, with all this earnings momentum, I don't know, 100 times forward earnings, Chipotle never traded there. But Fast Casual happens to be, and Edna Davis Research has a piece on this, one of the strongest micro themes in the market. CNBC's Mike Santoli. Stock trading app Robinhood shares popped up more than 10 percent after stronger than expected revenue in the last quarter. MGM Resorts shares also higher on strong quarterly results. Reddit shares were lower on

disappointing user numbers in the last quarter. Tractor Maker Deer out with strong quarterly results but it's warning of weakness in the farm sector and shares dropped. Honda and Nissan ended their merger talks, but they say they will continue to collaborate. The duels at Daytona are tonight ahead of Sunday's Daytona 500 and it's Galentine's Day. Jessica Ettinger, CNBC. Team values continuing to soar. The countdown is on. CNBC Sport official NBA team valuations revealed Friday in Squawk Box.