CNBC Business News Update - Market Open: Stocks Mixed, McDonald's Disappoints, Disney's "Deadpool & Wolverine" Sets A Record 7/29/24

Episode Date: July 29, 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 and reported by CNBC's Jessica Ettinger.

I'm Jessica Edinger. CNBC mixed markets out of the gate this morning on Wall Street. The Dow down 30 points. The S&P 500 index up 11 points. The Nasdaq is up 82 points. That's a half percent. There are three trading days left in the month of July. The only major average that's in the red for the month is the Nasdaq. McDonald's shares slightly lower this morning with disappointing quarterly results. They were expected. Consumers pulled back and balked at higher prices in the quarter. So McDonald's brought back the value menu about a month ago, but the Big Mac and some other favorites are not on the value menu. The fast food giant reporting a miss on both profits and revenues,

sales growth at existing restaurant locations or same store sales also fell for the first time since the fourth quarter of 2020. Now, last week, the company said it would extend its $5 value meal in most locations as it tries to bring back some customers that have pulled back on their spending. CNBC's Dominic Chu. Swiss drug giant Roche says it'll accelerate its pill form weight loss drugs after positive trials. It's planning to take on Novo Nordisk's Wagovi and Eli Lilly's Zepbound, which are injections. Tesla shares ticked higher after Morgan Stanley named it the top U.S. auto stock, replacing Ford. Apple says its new AI features are delayed and may

come in October, which is later than expected. Apple set to report quarterly results this week, along with Amazon and Facebook parent Meta. Disney shares higher. Disney, Marvel's Deadpool and Wolverine set a record for the highest R-rated movie debut weekend ever, bringing in more than $200 million in the U.S. We had a historic low-grossing memorial weekend, but then everything turned around in June and July, from Bad Boys Ride or Die in early June, Inside Out 2, an absolute juggernaut, now the highest-grossing animated film of all time,

Quiet Place Day One, Despicable Me 4, and Twisters most recently, and now Deadpool and Wolverine. Movie theaters are on a roll. Comscore's Paul DeGarabedian on CNBC. Meantime, Robert Downey Jr. will return to Marvel as Dr. Doom for the next Avengers movie that made waves in Hollywood over the weekend. Buffalo Wild Wings and Popeyes, each offering free or discounted wings today to mark National Chicken Wing Day. The Olympics opening ceremony on Friday drew the biggest audience for a summer game since 2012 at 28.6 million people.

Jessica Ettinger, CNBC. I think track and field is really special and unique in that you get out exactly what you put into it. When I am in the blocks, it's a really intense time. And then I just feel like I'm flying. The Olympics from Paris on NBC and Peacock.