CNBC Business News Update - Market Midday: Stocks Lower But Off Earlier Lows, Inflation Higher For 4th Straight Month, Party City Auctions Its Parts 2/12/25

Episode Date: February 12, 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 Edinger, CNBC, Wall Street reacting to higher inflation in January. And the Dow is in the red by 266 points off its earlier lows. It had been down 400 points. It's being led lower this afternoon by shares of Home Depot, which are down 2%. The S&P 500 index also off its earlier lows. It's only down 23 points now. The Nasdaq down 36 points. Nvidia shares down more than 1% this afternoon.

Companies who shares at fresh all-time highs today include Walmart and Welltower. Investors are worried that inflation isn't going away anytime soon. Inflation in January rose for the fourth straight month. It had its biggest monthly jump since 2022. Investors are worried that as President Trump begins a trade war, prices will go even higher. The CPI, Consumer Price Index, shows inflation running at 3%. January read on CPI up half of 1%, up half of 1%. To find a higher number than 0.5, you're going all the way back to June of 22. And if we strip out the all-important food and energy, also hotter, up four-tenths, double what's in the rearview mirror. CNBC's Rick Santelli.

What we got was worse, right? So it's really disappointing news for the Fed that they were hoping for continued deceleration. It's disappointing for the market because they're hoping for continued deceleration. And the fact that this is a January number and doesn't include any potential, you know, tariff impact yet, you know, means that the risk going forward is for potentially higher inflation. That's MetLife's Drew Mattis on CNBC. CVS shares were higher on strong quarterly results. Burger King and Popeye's parent restaurant brands international shares were higher on same-store sales growth in the last quarter for the restaurant chains. Popeye's offering a Valentine's two chicken sandwiches for

$8 deal through the app and it's available through Sunday. Spirit Airlines rejecting a revised buyout offer from Frontier Airlines. DoorDash shares were higher. As Americans are working, they have income, and they're ordering limos for their burritos. It's out with strong quarterly results. Stronger than expected revenue growth and an upbeat sales outlook for the current quarter. The company also issuing first quarter orders outlook that was above street expectations. CNBC's Frank Holland. Mortgage applications to buy a home dropped again last week, while mortgage applications to refinance a loan popped up 10% last week. This is mortgage rates ticked slightly lower,

but Mortgage News Daily still has the average rate on a 30-year home loan today just above 7%. Bankrupt party cities' assets are waiting for a judge's approval to be distributed. Retail Dive says Dollar Tree and Five Below are the top bidders for the company's store leases. And balloon and party goods maker Nuamscan is buying the party store's intellectual property, including the name. Valentine's Day and local zoos. In San Antonio, the zoo invites you to name a cockroach, rodent, or vegetable after your ex. That'll then be fed to animals at the zoo in exchange for a donation. And Morning Brew says for a $15 donation, the Columbus, Ohio Zoo and Aquarium

will let you name a superworm after an X that will be fed to the zoo's sloths. Jessica Ettinger, CNBC. Team values continuing to soar. The countdown is on. CNBC Sport official NBA team valuations revealed Friday in Squawk Box.