CNBC Business News Update - Market Midday: Stocks Modestly Higher, GM's EV Sales Pop, Sugar Prices Spike 9/23/24

Episode Date: September 23, 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. The first full day of fall trading in the green. The Dow is up six points. The S&P 500 index up 15 points. The Nasdaq's up 51 points. Companies whose shares have hit fresh all-time highs today include Facebook and Instagram parent Meta, American Express, and Royal Caribbean Cruise Line. Sugar is at its highest

price since last February. This is the raw material. That's an input cost, and food companies may end up passing that on to consumers. We'll see. Republican House Speaker Mike Johnson with a new plan to fund the government after an earlier proposal failed. House Speaker Mike Johnson unveiling a new temporary government funding proposal would fund the government through December 20th. In this case, it includes, this is kind of new, $231 million for the Secret Service. It doesn't include any of that Trump-backed election security proposal that was in the bill that was defeated. It would require people to show proof of citizenship to register as a voter. Lawmakers have until 12.01 on October 1st to reach a deal to avert a government shutdown. CNBC's Joe Kernan.

Johnson & Johnson is again looking to avoid taking a hit to its bigger business in the talc cancer case. Johnson & Johnson has filed a third bankruptcy case to try and settle the mass lawsuits linking its talc products to cancer. It's another test of the strategy that's known as the Texas two-step. The company used Texas corporate law to move its talc-related liabilities into an affiliate that was specifically designed to file for Chapter 11. It could then resolve those liabilities in bankruptcy court without jeopardizing its valuable business assets. The strategy is expected to face legal challenges. Its last two attempts were rejected. However, the new case was filed in Houston, where the judge is not bound to follow the same legal rationale as the previous judge who was in New Jersey. CNBC's Becky Quick. Warner Brothers' Beetlejuice Beetlejuice won the weekend box office for a third weekend in a row,

and The Hollywood Reporter calls it a surprise upset. Many thought Paramount's Transformers 1 would easily win. Jessica Ettinger, CNBC. The Investing Club. We're not about trading. We're about investing. Get invested. Join the club today. Go to cndc.com slash gymsclub.