CNBC Business News Update - Market Open: Stocks Higher, JP Morgan CEO Says Tariffs Are Good For National Security, Act Introduced To Repeal TikTok Ban 1/22/25

Episode Date: January 22, 2025

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 Ettinger, CNBC. Wall Street higher out of the open on strong earnings results from Procter & Gamble and Netflix. The Dow up 80 points. It's being led higher by shares of Travelers, which are up more than 3%. The S&P 500 index up 29 points. That's a half percent. The Nasdaq up 181 points. That's almost 1%.

Shares of Nvidia are up 3% this morning. The CEO of the biggest bank in the U.S. says the Trump tariff policy is positive for national security, even if it's inflationary. I would put in perspective, if it's a little inflationary, but it's good for national security, so be it. I mean, get over it. National security trumps a little bit more inflation. But I think it really the question is how they get used. Can they get be used to bring people to the table? Yes. Is there some unfair trade? Yes. Is there some state owned subsidies? Yes. You know, is the president going to use that way in his team? Yeah. And we'll see. JPMorgan Chase is Jamie Dimon on CNBC from the World Economic Forum in Davos.

Meantime, President Trump now says he's considering a 10% tariff on all goods coming into the U.S. from China as soon as February 1st. Netflix raising prices, including on its tier with commercials for the first time. They say we are adjusting prices today across most plans in the U.S., Canada, Portugal and Argentina. There have been some expectations of a price hike. Now we have that news. CNBC's Julia Borsten, Netflix shares surging on its biggest ever jump in subscribers in the last quarter after it showed the Tyson-Paul fight, NFL games, and season two of Squid Game. United Airlines out with strong quarterly results on strong travel demand. JetBlue will now let you

pay for your plane tickets with Venmo. CNN calls it a first for the airline industry. The interim head of the Securities and Exchange Commission has launched a crypto task force, Bitcoin rallying to more than $106,000. A TikTok permit idea floated by President Trump as lawmakers try to roll back the ban Congress passed and the Supreme Court upheld. An act has been introduced in Congress called the Repeal the TikTok Ban Act. There are legitimate security risks. The question is, can you mitigate them and prevent them without banning the app. And I will work with President Trump and Michael Waltz, who I know well as national security advisor, on a solution. We can get the data stored in the United States. I would love to see 50 percent ownership by the U.S. There's

already 60 percent U.S. investors. And we can make sure that it's a crime to have any algorithmic interference from a foreign adversary. But let's work on a constructive solution. California Congressman Ro Khanna on CNBC, one of the lawmakers behind the attempt to repeal the ban. McDonald's will sell limited edition Pokemon Happy Meals with exclusive trading cards inside, plus a sticker sheet and a poster. There are in-game bonuses if you order through the app. Samsung hosting its annual Galaxy Unpacked new product event today. Jessica Ettinger, CNBC. CNBC's Big January continues with the World Economic Forum in Davos, plus Fast Money Live from Miami and the first Fed decision of the year. Start the year ahead of the game.

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