CNBC Business News Update - Market Open: Stocks Lower, No Supreme Court Tariff Decision Yet, Retail Sales Mixed For November 1/14/26

Episode Date: January 14, 2026

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 and reported by CNBC's Jessica Ettinger. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

I'm Jessica Eddinger. CNBC, Wall Street, in the red. Major averages all lower. The Dow down 75 points. Shares of Invidia dragging that one down. They're down almost 2% this morning. The S&P 500 index losing 34 points. The NASDAQ down 200 points. No Supreme Court decision today on the legality of President Trump's tariffs. Bank earnings were mixed. Here's CNBC's Dominique. Chee. City beating on the top and bottom lines as the lenders set aside less money for troubled loans than analysts had expected. Bank of America also topping estimates this morning posting better than expected net interest income on gains in equity trading as well. Wells Fargo is the biggest decliner so far, sinking by just about 2% on a revenue misses. Severance cost drove off some of those expenses. Metals are ripping today. Gold and silver hitting record highs, silver topping $90 an ounce for the first time. Oil is at its high. since before Halloween on Iran oil disruption worries. And you could start to see higher prices at the pump.

Consumers did some spending in November gearing up for Thanksgiving and the holidays, but the core retail sales measure came in weaker than the same time last year. Retail sales for November, a powerful up six-tenths on the headline that would equal July strip out autos. It still remains rather strong. up half of 1% stronger than we're anticipating, and the core retail sales number up four-tenths. That's also strong. Now, it's as expected, and it's definitely weaker than the six-tenths in the rearview mirror.

That's CNBC's Rick Santelli. Inflation at the wholesale level, hotter than expected on a year-over-year basis in the PPI producer price index. SACS Global filed for bankruptcy protection after running out of cash. It owns other luxury retailers like Bergdorf Goodman and Neiman Marcus. A bill to ban lawmakers from buying stocks is getting a House panel vote today. Now, the measure wouldn't require lawmakers to divest from their current holdings, but it would limit lawmakers from buying new stocks and require them to publicly disclose at least seven days before they sold any of their stocks.

Now, this bill comes with increased fines for violators, although it doesn't go as far as some of the. other bipartisan measures that we saw introduced last year. Those would actually require lawmakers to fully divest, not just of stocks, but also futures, commodities. The key thing about this bill is that it has the blessing of House Republican leadership. That means it's got the best chance of actually passing. CNBC's Emily Wilkins. The Detroit Auto Show ramping up. Jessica Eddinger, CNBC. Breaking earnings news. Market reaction this week on CNBC and streaming on CNBC Plus.