CNBC Business News Update - Market Midday: Stocks Lower, Washington Rhetoric Impacting Markets, Bank Earnings Mixed 1/14/26

Episode Date: January 14, 2026

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. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

I'm Jessica Eddinger, CNBC. Wall Street's in the red this afternoon. The Dow down 226 points. Amazon shares now leading it lower. They're down more than 2%. The S&P 500 index down 67 points. That's a full 1% and the NASDAQ is down 348 points, 1.5%. Checking shares of Nvidia. They're down 2% this afternoon. Right now there is fear and concern. When you hear the type of rhetoric from Washington about caps on oil prices, drug prices, credit card, interest rates, what's going to happen with defense stocks, buying in their shares? Do tech companies have to give revenues or profit to the government for making a deal to sell chips in China, whatever? OREAS assets carry Firestone on CNBC. No Supreme Court decision today on the legality of President Trump's tariffs.

Bank earnings were mixed. Here's CNBC's Dominic Chu. City beating on the top and bottom lines as the lenders set aside less money for troubled loans and analysts had expected. Bank of America also topping estimates this morning posting better than expected net interest income on gains in equity trading as well. Wells Fargo is the biggest decliner so far, sinking by just about 2% on a revenue misses. severance costs drove out some of those expenses. Metals are ripping today. Gold and silver hitting record highs,

silver topping $90 an ounce for the first time. Oil is at its highest since before Halloween on Iran oil disruption worries, and you could start to see higher prices at the pump. Consumers did some spending in November, gearing up

for Thanksgiving and the holidays, but the core retail sales measure came in weaker than the same time last year. Retail sales November, a powerful up six-tenths on the headline that would equal July strip out autos. It still remains rather strong. Up half of 1% stronger than we're anticipating. And the core retail sales number up four-tenths.

That's also strong. Now, it's as expected, and it's definitely weaker than the six-tenths in the rear-view mirror. That's CNBC's Rick Santelli. Inflation at the wholesale level? hotter than expected on a year-over-year basis in the PPI producer price index. Sacks Global filed for bankruptcy protection after running out of cash. It owns other luxury retailers like Bergdorf Goodman and Neiman Marcus. On Thursday's watch list, we get earnings from Goldman Sachs, Morgan Stanley, BlackRock, and Taiwan semi.

We find out how many people applied for unemployment benefits last week, and the Muhammad Ali stamp goes on sale. Jessica Eddinger, CNBC. Breaking earnings news. Market reaction this week on CNBC and streaming on CNBC Plus.