CNBC Business News Update - Market Open: Stocks Lower As Post Election Rally Stalls, Disney Plus Streaming Service Swings To A Profit, Record ETF Inflows 11/14/24

Episode Date: November 14, 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 now in the red after a pop and a drop this morning. The post-election rally is stalling. The Dow down 36 points, the S&P 500 index down 10, the Nasdaq is down 49 points. We don't see a cheap market right now, but at the same point in time, we think we can earn into that market. We think that investors should continue to leg into markets. And you're going to get some volatility here as the market reacts to some of the policy moves as it gets ready for the new year. And it's not necessarily easy enough to say, well, you know, you should just wait on the sidelines. Regions Wealth's Alan McKnight on CNBC. Inflation at the wholesale level ticked higher in October

as expected in the new PPI data. That's the producer price index. The number of Americans filing for unemployment benefits last week fell to its lowest level in six months as the job market remains strong. 217,000 people applied. That's lower than the average pre-pandemic week. Disney shares soaring 11 percent. They're leading the Dow higher on a profit for the Disney Plus streaming service. A good summer for movies with Inside Out 2 and Deadpool and Wolverine. A really solid quarter for the company and Rosie Outlook. The theme parks are underperforming, but there's a future in cruise ships. Here's CNBC Mad Money host Jim Cramer.

I think that there's far more to do with the weather that people don't talk about when it comes to Florida. I think if Bob Iger would tell you, lay off the theme parks, they're a gem. And then we've got these big ships coming up. I know people might think that that's not that important, new ship coming in. But if you look at Royal Caribbean, you look at Norwegian Cruise, you say to yourself, you know what? If you have a ship, you can make a long-term projection. Capri Holdings and Tapestry dropping their merger plans, citing regulatory hurdles. Capri owns Michael Kors, Jimmy Choo, and Versace. Tapestry owns coach Kate Spade and Stuart Weitzman, and the government had warned the deal could create a luxury monopoly and was blocked by a federal judge.

Americans are plowing money into ETFs, exchange-traded funds. Investing inflows into ETFs, they hit an all-time high of $915 billion for a calendar year yesterday, breaking the 2021 record of $911 billion, according to data from Betify. If investors maintain the same post-election enthusiasm for the rest of this year, ETF inflows, they would exceed a major milestone, $1 trillion, according to a forecast from Betify. Two of the most popular ETFs, the SPY that tracks the S&P 500 and the QQQ that tracks the Nasdaq 100, they're also both on pace for record inflows as both of those indices are trading near all-time highs. CNBC's Frank Holland ETFs can be bought and sold throughout the day at fluctuating prices like stocks. They're different from mutual

funds, which are only traded once per day at the market closing price. Chipmaker AMD, the biggest maker of graphics processing units behind NVIDIA, is cutting a thousand jobs. In another move into sports, Amazon Prime Video will stream the 16 regional sports networks offered by Diamond Sports. Taylor Swift's Ares Tour stops in Toronto tonight, boosting that economy. Jessica Ettinger, CNBC. How did a master cyber criminal and a Russian oligarch with ties to the Kremlin hack into America's financial system, scamming millions? CNBC presents The Crimes of Putin's Traitor.

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