CNBC Business News Update - Market Midday: Stocks Mixed, Inflation Outlook Hits Record Low, Disney With New Parks Attractions 8/12/24

Episode Date: August 12, 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. Mixed markets on Wall Street this afternoon. The Dow down 35 points off its earlier low. The S&P 500 index in the green up 18 points. It's being led higher by shares of Walmart, which are up almost 2% today. The Nasdaq higher by 103 points. That's more than a half a percent. Americans are feeling better about the economy and inflation in new data out this morning. The newest New York Fed survey of consumer expectations puts the three-year inflation outlook at 2.3 percent, the lowest in a data series that goes back to June of 2013. GM has revealed a redesigned GMC Terrain as the brand's entry-level model. It's a crossover SUV with a more rugged exterior design. The inside is new, too, with 26 inches of screens.

It'll start at about $30,000. Investors are waiting for the latest on inflation, which comes the day after tomorrow when we get the July CPI consumer price index on Wednesday morning. We're waiting for some results from retailers, too, and watching to see how the consumer is holding up. Yeah, I think the consumer is still in decent shape. We've got a lot of questions lately of what does all the election noise mean? What we're looking for here as we get through earnings season, we'll hear from Home Depot tomorrow, Walmart later in the week. It seems as though investors are banking at a pretty weak Q2 period, at least for home improvement. So as long as we get this sort of stabilization in spending and then couple that with a lower

back half guide, I think that's basically what's expected in the marketplace right now. Mizzou host David Bellinger on CNBC. CNBC, your money, your vote. Last night, Vice President Harris's campaign brought in some big money. New fundraising numbers from the Harris camp following a massive event in Silicon Valley last night. The campaign raised more than $13 million for the Democratic ticket in a single night. Among the notable attendees, LinkedIn co-founder Reid Hoffman, also former Walt Disney Studios chairman Jeffrey Katzenberg, as well as Box co-founder Aaron Levy. Now, since Harris stepped in for Vice President Biden, the vice president's campaign says in July she has raised $310 million, while the Trump campaign and affiliated committees raised roughly

$139 million. CNBC's Dominic Chu. Starbucks shares were higher after the Wall Street Journal reported an activist investor, Starboard Value, has taken a stake in the coffee chain to try to boost its stock. Disney will focus on the bad guys with a new Villains Land coming to the Magic Kingdom theme park. And even though consumers are pulling back from the parks, Disney doesn't think that's going to last. Among the highlights from this weekend's D23 Expo, we've got a Monsters, Inc. inspired land at Hollywood Studios and new Indiana Jones and Encanto rides in California. The weekend unveil comes just days after Disney reported a slowdown in its parks division. What it expects will last for at least several more quarters.

CNBC's Silvana Hanau. Disney's Deadpool and Wolverine crossed the $1 billion mark at the global box office and was number one in the U.S. for a third week in a row over the weekend. Jessica Ettinger, CNBC. Don't miss a members-only event. You want to trade? We may not be for you. You want to invest? Come to the right place.