CNBC Business News Update - Market Open: Stocks Higher, WSJ on Musk & Putin, Burger King And Yum Chains Pull Onions From Select Locations 10/25/24

Episode Date: October 25, 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 Enninger, CNBC. Wall Street in the green on this Friday morning. Out of the gate, the Dow up 170 points. That's almost a half percent. It's being led higher by shares of Caterpillar. The S&P 500 index up 33 points, a half percent. The Nasdaq up 135 points. That's three quarters of a percent.

The Nasdaq has turned green for the week. As long as earnings are strong and continue to build and what we've seen from companies thus far is that they are delivering. It may be not quite as good as people had hoped but it's still pretty strong and certainly for the large names and some of the names that have really driven the stock market so far this year they continue to produce. Regions We wealth's Alan McKnight on CNBC. Durable goods orders fell last month, but the number was better than expected. It's a measure of things made to last a long time, like washing machines and airplanes. Tesla CEO Elon Musk has

been in regular contact with Russian President Vladimir Putin for two years now, according to the Wall Street Journal. Power that he has, not just from being the world's wealthiest man, what Starlink and SpaceX give him in terms of his importance geopolitically in war zones, for example, and even far beyond that. Which is why that line in the journal piece that Putin reportedly asked him to limit Starlink's service to Taiwan as a personal favor to President Xi was a key line in the story. Oh, totally. It points to his influence. You've got the North Korean soldiers and Xi.

There's like a whole axis of evil that's coordinated. That's CNBC's Jim Cramer with Carl Quintanilla and David Faber today on Squawk on the Street. Decker's Outdoor Sh shares soaring in early trading. The maker of UGG Boots and Hoka Running Shoes is out with better than expected quarterly results. Strong results out today from Capital One, L3 Harris Technologies, and Skechers. Colgate Palmolive also beat estimates. Its shares were ticking lower, though, in early trading. Burger King and Yum! Brands owned Taco Bell, Pizza Hut, and KFC restaurants. They've all pulled onions from though in early trading burger king and yum brands owned taco bell pizza hut and kfc restaurants they've all pulled onions from select locations after the mcdonald's e coli outbreak while no

cases have been tied to burger king or yum the companies say the move is out of an abundance of caution burger king adding five percent of its restaurants source onions from Taylor Farms. That's the supplier at the center of the outbreak, but that they only use whole fresh onions. CNBC's Silvana Hanau. Coach and Kate Spade owner Tapestry has been blocked from buying Michael Kors owner Capri Holdings. A federal judge agreed with the Federal Trade Commission that the deal is anti-competitive and would push up prices for consumers in the luxury goods industry. Tapestry plans to appeal. Volkswagen-owned Scout Motors showing off its first electric vehicles and plug-in hybrids.

The Scout Traveler SUV and Terra pickup truck. They'll be out in 2027, starting at about $50,000. Scout was an American brand made from the 60s to 1980 when it was shut down. World Series game one tonight in Los Angeles, Yankees, Dodgers. On StubHub right now, you can still get two seats together for about $1,000 each in the resale market. Those are nosebleeds. New in theaters, Focus features Conclave and Sony's third Venom movie, Venom the Last Dance. Jessica Ettinger, 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.