CNBC Business News Update - Market Open: Stocks Mixed, Canada & China Make Deals, White House Trying To Lower New Car Prices 1/16/26

Episode Date: January 16, 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. Major averages were higher out of the gate now. Wall Street is mixed. The Dow down 91 points. Salesforce shares a drag this morning. Those shares down 6%. The S&P 500 index is up 7 points. The NASDAQ and the green up 68 points.

Shares of Nvidia are up 1.5% this morning. Major averages are on pace for a losing week. Canada's Prime Minister and China, China's president have made some deals. You may soon see Chinese EVs crossing the border into the U.S. driving the streets of towns like Buffalo or Detroit. The Canadian Prime Minister announced a meaningful thaw in relations with China that marks a break from the U.S. Canada is going to import 49,000 Chinese EVs at a 6% tariff rate by the likes of Neo, BYD, other Chinese EV makers.

So Carney's four-day trip comes after a very tense time with U.S. under President Trump. Mark Carney had set a goal to double Canada's exports to other countries over the next decade in order to try to wean off the reliance on the U.S. CNBC's Eunice Yuni in Beijing. PNC bank shares were higher on better than expected fourth quarter results and strong guidance, promising sales for a bladder cancer drug, propelling shares. biotech firm immunity bio today. The drugs called Anctiva. Would be car buyers may be out looking at new vehicles over

the long Martin Luther King holiday weekend and wow look at those prices. Sticker shock, the average price paid is for a new vehicle right now. This is according to Cox Automotive, $50,326. That is an all-time high. The average monthly payment according to Edmonds right now is $781. You really want to be surprised, look at the percentage of auto loans that include a monthly payment of at least $1,000, if not more. One out of every five auto loans, according to Edmonds, has a monthly payment of at least $1,000. And for the Trump administration, they've heard the complaints, wait a second, it's too expensive to buy a new vehicle. Heck, use vehicle prices are close to a record high as

well. And so this is the beginning of their efforts today to say, look, we need to make vehicles more affordable. The big question is, what does the Trump administration want from the auto industry? Are they looking to mandate a certain number of vehicles are sold at a certain price point? CNBC's Phil LeBoe. Netflix has a deal with Sony pictures to stream feature films as soon as they're done in theaters and on demand. Duncan, with free reusable Megan the Stallion cups today when you buy the new protein refresher drink. The chain is trying to lure in new customers, according to USA Today, it also upcharges for the added protein milk in those drinks. New in theaters focus features HamNet.

Sony's 28 years later, the Bone Temple. Vivas animated Charlie the Wonder Dog and Amazon's The Nowhere Man. The financial markets will be closed on Monday for the long Martin Luther King holiday. Jessica Eddinger, CNBC. Straight from the CEOs. You have to go into wartime mode. Valuable insights. When you have happier employees, you get happier guests.

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