CNBC Business News Update - Market Midday: Stocks Mixed, Adobe Shares Up 14%, Consumer Sentiment Dipped 6/14/24

Episode Date: June 14, 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 Edinger, CNBC. Markets were in the red today, but this afternoon, it looks like the S&P 500 index is no longer lower. It is flat. Consumer sentiment fell in the latest University of Michigan survey. The S&P 500 index, though, is on pace for a winning week. The Dow still lowered down 66 points, but off its earlier lows, the S&P 500 index unchanged.

The NASDAQ down 20 points this afternoon. Companies whose shares have hit all-time highs today include Regeneron and, yet again, NVIDIA. There is some concern about just a handful of companies' shares really popping, while most of the others haven't been. Yesterday, at one point, we had 80 percent down volume and the market was flat. I know. These giants are doing yeoman's work. This can't continue. You can't have three stocks be the whole market. It's just not. It just doesn't work. You have to be worried that but you have to be worried that the whole market is just five stocks. CNBC Mad Money host Jim Cramer with CNBC's Carl Quintanilla. New consumer sentiment data from the University of Michigan.

Sentiment took a big drop, coming in much lower than expected. These are June preliminary reads, so in a couple weeks they may change. For the headline number, 65.6, a big miss. That's the weakest level since November of 23 with regard to headline confidence. And it follows 69.1, which was solid. CNBC's Rick Santelli. Adobe shares popping today up 14% on stronger than expected quarterly results and its work with AI. Boeing with a new plane issue it's trying to figure out. Boeing is investigating a quality issue with undelivered

787 Dreamliner planes. The company says it discovered some fasteners were incorrectly installed on the fuselage. Boeing says the current in-service fleet of 787s can continue to operate safely. Now, this latest issue adds to Boeing's woes as it comes under increased scrutiny and multiple investigations from regulators into its safety practices. CNBC's Silvana Hannau. Oil ticking higher on new forecasts that show a tighter supply. Netflix hunting for a production partner so it can expertly broadcast the Christmas Day NFL games it's paying big to stream. It's been talking to Disney's ESPN, Comcast's NBCUniversal, and Paramount Global's CBS Sports, according to people familiar with the discussions. Summer Fridays aren't as big anymore. More

businesses just letting people work from home the whole day this summer. Round two today at the U.S. Open Golf Tournament at Pinehurst. Jessica Ettinger, CNBC. The Olympic Games are coming. But first, the best American athletes have to make Team USA. The U.S. Olympic Team Trials on NBC and Peacock.