CNBC Business News Update - Market Midday: Stocks Modestly Higher, Apple Says "Apple Intelligence" Is Not Delayed, Olympic Opening Ceremony Highest Viewership Since 2012

Episode Date: July 29, 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 are modestly in the green in the lunch hour on Wall Street. The Dow up 17 points. The S&P 500 index up 20 points. The Nasdaq is now up 91 points. That's just about a half a percent. Companies whose shares hit fresh all-time highs today include the homebuilder Pulte Group, HCA Healthcare, and Colgate Palmolive. Apple pushing

back against a report that says its new AI features are delayed and may come in October later than expected. Some of Apple's intelligence features, that's what they call their AI features, won't be ready when the new iPhone software launches in September. Instead, according to Bloomberg report, they're coming in October. Now, to be clear, this is not a delay. Apple has already said its AI is launching this fall or, in the case of the ChatGPT integration, later this year. CNBC's Steve Kovach. Apple set to report quarterly results this week, along with Amazon and Facebook parent Meta. The number of Americans who now owe at least $100,000 or more in federal student loans has reached 2.4 million, up by more than a half

million people since 2017. Experts blame the higher cost of college. There are people in the U.S. with eye-popping balances for student loans of $2 million. Doctors can often finish training with that kind of debt. Disney shares higher. Disney, Marvel's Deadpool and Wolverine set a record for the highest R-rated movie debut weekend ever, bringing in more than $200 million in the U.S. We had a historic low-grossing memorial weekend, but then everything turned around in June and July, from Bad Boys Ride or Die in early June, Inside Out 2, an absolute juggernaut, now the highest-grossing animated film of all time,

Quiet Place Day One, Despicable Me 4, and Twisters most recently, and now Deadpool and Wolverine. Movie theaters are on a roll. Comscore's Paul DeGarabedian on CNBC. Meantime, Robert Downey Jr. will return to Marvel as Dr. Doom for the next Avengers movie that made waves in Hollywood over the weekend. Buffalo Wild Wings and Popeyes, each offering free or discounted wings today

to mark National Chicken Wing Day. The Olympics opening ceremony on Friday drew the biggest audience for a summer game since 2012 at 28.6 million people. Jessica Ettinger, CNBC. I think track and field is really special and unique in that you get out exactly what you put into it. When I am in the blocks, it's a really intense time and then I just feel like I'm flying. The Olympics from Paris on NBC and Peacock.