CNBC Business News Update - Market Midday: Stocks Mixed, Constellation Energy Shares Hit Record High On Nuclear Plant Restart, Apple iPhone 16 In Stores 9/20/24

Episode Date: September 20, 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 by CNBC's Jessica Ettinger.

I'm Jessica Edinger, CNBC. Wall Street has turned mixed this afternoon. The Dow is up 40 points. It's being led higher by shares of Nike. The S&P 500 index is down 11 points. The Nasdaq down 51 points. Major averages all on pace for a winning week. Companies whose shares have hit fresh all-time highs today

include American Express, Facebook and Instagram parent Meta, and Constellation Energy, which is restarting the Three Mile Island nuclear power plant using Unit 1 to purchase the power output from that venture. The plant's expected to be ready for service in 2028. Three Mile Island was the site of the biggest nuclear accident in the history of the U.S. nuclear power generation. A partial meltdown of the reactor led to radioactive gases and iodine being released into the air back in the March of 1979. CNBC's Joe Kernan. Now, Unit 1 is separate from the reactor that partially melted down back in 79. Nike shares are popping. The CEO is stepping down. Company veteran Elliot Hill coming out of retirement to take the top job at the struggling sneaker giant. CNBC Mad Money host Jim Cramer says it's necessary. Look, they're in trouble.

Now, it isn't shocking that they're in trouble because you looked at the stock chart and it says they're in trouble. But there were so many mistakes made by this man that you kind of wanted to figure out, did they think he had some sort of master plan that nobody knew? He didn't. I think that this is a welcome change to bring someone back in. But what they really need to do is try to figure out how to make better shoes, which somehow got lost in the shuffle. CNBC's Jim Cramer. Gold had another record high today and it's on pace for its 37th record high close of the year. Apple's new iPhone 16 is in stores. Apple CEO quickly spoke with CNBC's Steve Kovac outside the New York City flagship Apple store. I did talk to Tim Cook. He was actually right in front of the Apple store filming a little skit with Jimmy Fallon. Very exciting. Better or worse than last year? Oh, I don't know yet. It's only the first hour, so we'll say.

Pre-order's good? It's amazing. Everything is enthusiastic. You know, earlier in the week, we got those signals that maybe demand was less than it was last year. T-Mobile CEO Mike Sievert saying that sales are better than they were last year, at least the pre-order sales. We're going to have to wait through the weekend and, and of course in the coming weeks to get more and more on what the demand looks like. CNBC's Steve Kovac. Boeing managers and other white collar workers furloughed today by the company. Time off that's unpaid as more than 30,000 machinists are on picket lines for a week now to get a better contract. Furloughs start today for tens of thousands of Boeing white-collar workers. They're going to be rolling furloughs. So you're off for a week, then you come back, then another group are going to be

furloughed for a week. This is all to save money for the company. CNBC's Phil LeBeau, he says this could be a long strike. Jessica Ettinger, CNBC. This is the best solution I have ever seen. I want to be in it to win it with you. Shark Tank, tonight starting 7 Eastern, CNBC.