CNBC Business News Update - Market Open: Stocks Mixed, Southwest Airlines Changes, Apple Owes Billions in EU Back Taxes 9/10/24

Episode Date: September 10, 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. Wall Street is mixed out of the gate this morning. The Dow down nine points. The S&P 500 index up 14 points, a quarter percent. The Nasdaq up 37 points, a quarter percent. Investors are on hold for the CPI, the latest on inflation with a consumer price index. That'll be out tomorrow morning.

Southwest Airlines Chairman Gary Kelly stepping down next year as the activist investor firm Elliott pushes for changes at the airline to make it more profitable. These changes announced by Southwest Airlines following a meeting yesterday between Gary Kelly, who is the executive chair of the Southwest Airlines Board of Directors, met with leaders from Elliott Management, which has a 10% stake in Southwest and has said that it will call for a special shareholder meeting unless there are wholesale changes at Southwest, both in terms of leadership as well as how the company is operated. CNBC's Phil LeBeau. Southwest shares were down more than 2% at the open this morning. Apple unveiled its new iPhone 16 yesterday. Today, it's facing a ruling from the European Union's top court requiring Apple to pay more than $14 billion in back taxes. SpaceX successfully launched the Polaris Dawn

mission today. It's the first of three purchased by billionaire and Shift4 founder Jared Isaacman from SpaceX. This is a historic moment. Highest Earth orbit to be achieved by a crewed spacecraft. It's the farthest humans will venture from Earth since the Apollo era, more than five decades ago. The first commercial spacewalk, the first spacewalk by a private crew. They're going to be testing the new SpaceX-designed spacesuits to do it. That's going to happen about three days out in this five-day mission. There is a lot on tap,

and what's incredible is the fact that nobody is a government astronaut. Everybody is private for this mission. CNBC's Morgan Brennan. Eleven states now have $2 gas as prices at the pump continue to drop. AAA says the national average for a gallon of regular is $3.27. Small business owners are feeling less positive about the economy in the latest National Federation of Independent Business survey. The Mega Millions jackpot is $800 million tonight. Jessica Ettinger, CNBC. CNBC unveiling its inaugural NFL valuations list. Dallas Cowboys, number one at $11 billion. The NFL is the biggest and most profitable sports league in the world.

Exclusive NFL team valuations now on CNBC.com slash sport.