CNBC Business News Update - Market Open: Stocks Mixed, December Inflation As Expected, JP Morgan Quarterly Results Beat Estimates 1/13/26

Episode Date: January 13, 2026

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I'm Jessica Eddinger, CNBC, mixed markets this morning out of the gate on Wall Street. The Dow down 138 points. Verizon shares leading the Dow lower. They're down almost 3%. The S&P 500 index in the green by three points. The NASDAQ up 33 points. Shares of Invidia are unchanged. Inflation came in as expected for December up 3 tenths of a percent from November.

the rate of inflation sitting at 2.7% in the CPI Consumer Price Index report. The Fed's target, of course, is much lower, 2%, which is closer to where inflation was before the pandemic. In 2019, it was sitting at 1.4%. That most likely, we're not going to be getting to the Fed's target in any quick fashion in terms of the economy in general. I think there are certain areas that over time, on a very long glide path, can get closer to 2%. But I think the general awareness out there is that somewhere between 2 and 3, 2 and a half, 2 and 3 quarters, and some metrics, as high as 3, is going to be the new normal, and we're just all going to have to get used to that. CNBC's Rick Santelli. Here's a take on December inflation

from CNBC's Carl Kintanilla and Mad Money host Jim Kramer. Look, shelter still too high. Food at home is still too high. Surprising break and used cars. I can't find that in the actual work that that I do. Yeah, grocery, two, four, year on year. And seven-tenths, that's the biggest monthly gain in about three years. Food's too high. A lot of that is tariffs. A lot of that is, say, for instance, when you deal with Brazil, Brazil would be a way to get cattle down. Cattle is a principal source of food inflation. I'm surprised the president hasn't addressed it yet. Crude oil at its highest today since before last Thanksgiving. You may see prices at the pump start to tick higher. Earning season is on.

JP Morgan shares were higher. It reported better than expected quarterly results. Profit got hit, though, by a one-time charge for taking over the Apple credit card business. CEO Jamie Diamond noting that consumers continue to spend, businesses remain healthy, all while he's watching the risk of sticky inflation and geopolitics. Delta Airlines forecasting a 20% jump in profit for this year. It's cutting capacity, raising airfares. It's also ordered its first Boeing 7-8. 37 dreamliner jets. They'll be delivered in five years, but investors seem to want more. Delta Airlines posting fourth quarter earnings slightly ahead of estimates and revenues that came in just short of expectations. Delta CEO at Bastion told us that 2025 was a year with a lot of challenges

for airlines from a drop in consumer confidence to the government shutdown. Delta, by the way, also gave a full year profit forecast that fell shy of consensus forecasts, which is also adding to some of the downside pressure on those shares of Delta. Delta shares were down more than one percent. this morning. Global central bankers, uniting in defense of Fed Chair Jerome Powell, a joint statement, includes the heads of the European Central Bank and the Bank of England, among others, slamming what they call a politically motivated criminal investigation by the Trump Department of Justice into Powell. German-owned discount grocer Aldi plans to open more than 180 stores in the U.S. this year as customers across incomes try to find lower,

food prices. It's considered an aggressive expansion in that business, but the Aldi market share in the U.S. is still quite small compared to Walmart, Kroger, and Costco. Jessica Eddinger, CNBC. Warren Buffett, America's greatest investor on business, philanthropy, and life. Becky Quick with never-before-seen interviews. Warren Buffett, a life and legacy, a two-hour event. Tuesday 7 Eastern, CNBC.