CNBC Business News Update - Market Open: Stocks Higher, Senate Hearing Grills Novo Nordisk CEO On Pricing, Pepsico's Mountain Dew "Voo-Dew Mystery Flavor" Is Out 9/24/24

Episode Date: September 24, 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's Modest Gains for Wall Street. This morning, the S&P 500 index opened at a new record high. We've got the Dow up 67 points out of the gate, the S&P 500 index up three points, and the Nasdaq is up 39 points this morning. Novo Nordisk's CEO testifying at a Senate hearing today. Over high prices for weight loss drugs, Novo is based in Denmark. It makes Ozempic and Wegovy. Senator Bernie Sanders wants to know why Americans pay so much more for it than patients in other countries. Striking Boeing workers rejected a new offer from Boeing management, which it called its best and final. Boeing's machinist union calling it a display of disrespect meant to divide striking union workers. In its offer, Boeing said it would, among other proposals, reinstate a performance bonus,

improve retirement benefits and double a ratification bonus to $6,000 should workers accept the terms by Friday. Now, union officials, which represent the 33,000 striking workers, said the offer was thrown out without any discussion, did not meet basic demands, and setting up a vote by Friday was unfeasible. CNBC's Silvana Hanao. The insurance industry watching another storm threatening the southeastern U.S. If it strengthens, it would be called Helene. It's forecast to become a hurricane churning near Cuba. Most of Florida is already under a state of emergency today. RV maker Thor, industry shares were lower on a disappointing full year earnings outlook. People just aren't buying as many RVs, recreational vehicles now as they did in the

pandemic. Watch Visa shares. They were lower after Bloomberg reported the Justice Department is planning to file a lawsuit against the payment network firm over illegally monopolizing the U.S. debit card business. Citi says it's switching to MasterCard as a result of what it calls this incremental regulatory overhang. Trump Media has lost about 80% of its value now. Ticker symbol DJT. The former president owns about half of all the shares outstanding. Trump Media and Technology looking to regain some ground after shedding another 10% yesterday. The drop comes ahead of a filing deadline for insiders to disclose sales of shares in the parent company of former President Trump's Truth Social.

Shares of Trump media are hovering at their lowest price since going public back in March. CNBC's Frank Holland. Democrats sent letters to big-name companies whose executive salaries are bigger than what the whole company pays in corporate tax. They're sending letters today to 35 companies, Tesla, Netflix, and Salesforce, T-Mobile, AIG, MetLife, DTE Energy, U.S. Steel, Dominion, and more. And they're raising concerns that these companies are paying their executives more than they pay in federal income taxes. Now, the companies were identified in a report from the Institute for Policy Studies and Americans for Tax Fairness.

CNBC's Emily Wilkins. PepsiCo's Mountain Dew brand is out with this year's Voodoo Mystery flavor. The Halloween tradition gets social media marketing traction as people try to guess what it tastes like. Jessica Ettinger, CNBC. The vote. It's as American as apple pie. It's iconic. You got the flag up now. Patriotic. And this November, we're all chanting.

It's your turn. Voter up.