CNBC Business News Update - Market Midday: Stocks Lower, Boeing Drags Dow Down, Hope For TikTok Ban Delay 1/14/25

Episode Date: January 14, 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 Eringer, CNBC. Wall Street's flipped around. It's lower this afternoon, even with cooler inflation at the wholesale level for December and with bond yields coming off their highs. The Dow down 93 points, quarter percent, being led lower by shares of Boeing and also shares of Nvidia,

which are down about one and a half percent. Nike shares down almost two percent. The S&P 500 index down 22 points. The NASDAQ now down 95 points. That's a half percent. Companies whose shares hit fresh all-time highs today include GE, Vernova, and Planet Fitness. Boeing is the biggest drag on the Dow today.

Shares are down almost 3%. It's out with disappointing plane delivery numbers for last year. 348 for the year. For a point of reference, Airbus, their chief rival, delivered 766 commercial airplanes. You have seven planes being ordered in the month of December. For the year, Boeing orders logged in at 377. Backlog now stands at 5,549 planes. CNBC's Phil LeBeau. The December PPI producer price index came in at an inflation rate of two-tenths of one percent. Eggs, which were up 55 percent, I want to say, let me get that right, they're now up 0.5. Fresh fruits and vegetables were up like 33 percent and that actually fell 14 percent. Look, the market has not had good inflation news for quite a while now.

This is something that's helpful. It shows you that it's not all one direction. CNBC senior economics reporter Steve Leisman. Look, I think we're in an environment where there is a risk that inflation comes back. And I think we're in a murky territory here. I mean, look think we're in an environment where there is a risk that inflation comes back. And I think we're in a murky territory here. I mean, look, we took all Fed cuts off the table. The idea is we're not going to see any cuts this year. Our economists are basically of the opinion that we don't get to the numbers that we need to see. That's Bank of America's Savita Subramanian on CNBC.

Southwest Airlines pausing all corporate hiring and most summer internships. It's trying to cut costs. China could sell TikTok to billionaire Elon Musk. That was according to Bloomberg. But TikTok calls that report pure fiction, according to Variety. TikTok, which is owned by Chinese company ByteDance, sits on the phones of nearly half the U.S. population. It's seen as a security risk. Congress passed a law that says it must be banned or sold to an American owner. I got to tell you, I did some reporting on this from what I'm hearing as well. This must stuff is just not based in true reality. There may have been a conversation somewhere, certainly.

The real question is, what are you going to get from the Supreme Court? They don't seem inclined to overturn the law. But I think there is a hope in the Baitans camp, certainly, that what they will do is issue an administrative delay, which would have the effect of giving it to the Trump administration and allowing them to sort of administer and or interpret the law that's been passed by Congress. CNBC's David Faber. Ahead of this looming TikTok ban, creators have been telling their fans and followers how to find them on Instagram, YouTube, X, and Blue Sky. Jessica Ettinger, CNBC. CNBC's Big January continues with the World Economic Forum in Davos, plus fast money live from Miami and the first Fed decision of the year. Start the year ahead of the game. CNBC.