CNBC Business News Update - Market Open: Stocks Higher in Election Day Trading, Boeing Strike Over, Fox Sells Out 2025 Superbowl Ads 11/5/24

Episode Date: November 5, 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 in the green, out of the gate as investors wait for the results of the U.S. elections. The Dow up 65 points, the S&P 500 index up 24 points, and the Nasdaq is now up 112 points. That's more than one half of one percent. Stocks often have what's called a relief rally after the election. Going back to 1992, which is as far back as S&P has sector level data, all sizes, styles, sectors posted advances along with 97 percent of the sub-industry. So historically, the market does breathe a sigh of relief. Normally, the market, if it rises from July 31 through October 31, the incumbent person or party has been re-elected except for two times. CFRA research

is Sam Stovall on CNBC. Boeing shares slightly higher this morning as the machinists union strike is over. This is the third vote over the course of 54 days. 59% approved a new four-year contract. 38% raise. An enhanced 401k match from the company and you have a $12,000 signing bonus. This is a success. This is a win. It was hard bargaining on both sides and there always is hard feelings but we'll get through it and we'll get back to building airplanes. The president of the machine is talking late last night. Tomorrow, if they begin production again. But it's not like everybody comes back to work. Some workers will return tomorrow. They all have to be in by early next week. CNBC's Phil LeBeau. Two big restaurant companies out with disappointing quarterly results today. Burger King and Tim Horton's parent, Restaurant Brands, and Pizza

Hut, KFC, and Taco Bell parent, Yum Brands. Palantir shares were popping on strong quarterly results and a boost to its full-year revenue outlook. Fox has the rights to the 2025 Super Bowl and commercials are sold out already. Critics say Fox didn't charge enough, but the pricing was at a record high. Fox CEO Lachlan Murdoch confirming yesterday that the network has now completed its sales effort for ads in Super Bowl 59. He said the inventory sold out at a record pricing commanding rates, you ready for this, higher than $7 million for just a 30-second spot. They've also paid a hefty price to get it and they've paid Mr. Brady a lot to you know voice it if you will. CNBC's Andrew Ross Sorkin, retired NFL star Tom Brady is in the Fox Sports broadcast booth. Nintendo's Switch gaming console is getting old. After being out for seven

years demand is slowing. The company reported falling sales. Nintendo says a new product will be announced before this March. Dunkin' out with its holiday menu, cookie butter donuts and cookie butter lattes. It's also National Donut Day today. Deals and discounts at some of the big chains. Jessica Edinger, CNBC. This campaign is all about business and money. Live from the New York Stock Exchange. If you were going to watch this election happen, you'd want to watch it through the eyes of CNBC. This campaign is all about business and money. Live from the New York Stock Exchange. If you were going to watch this election happen, you'd want to watch it through the eyes of CNBC.

November 5th, CNBC.