CNBC Business News Update - Market Open: Stocks Mixed, S&P 500 Index Builds Slightly On Record High, Boeing To Report 6th Straight Year of Losses 1/24/25

Episode Date: January 24, 2025

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 by CNBC's Jessica Ettinger.

I'm Jessica Edinger. CNBC Wall Street is mixed this morning. The S&P 500 index slightly higher out of the gate, building on that record high it opened with. The Dow down 35 points. It's being led lower by shares of American Express. They're down almost 2%. And it reported quarterly results that were slightly disappointing this morning. The S&P 500 index is up three points and the NASDAQ is up 15 points. NVIDIA shares are ticking lower this morning. There was this kind of Wall Street cutesy construction after the election that said, oh, you want to buy the election to sell the inauguration? Well, the market just front ran that. And they sort of like, we bought the election and then we had a bit of a rethink about whether valuations were

justified or whether the economy can handle four and a half, five percent treasury yields. CNBC's Mike Santoli. Boeing shares are ticking slightly higher. It pre-announced some numbers saying it expects a four billion dollar loss for the fourth quarter after a chaotic 2024. Last year for Boeing began with that midair accident, the door blow out, and ended with a crippling labor strike and job cuts. Boeing hasn't posted an annual profit in a very long time. Six years. This is the sixth straight year, or 2024 will be the sixth straight year with an annual loss. In fact, it's going to be a record annual loss.

It's the usual cast of characters here. The money losing programs at Boeing. We're talking about tanker. We're talking about Air Force One, the crewed cabin Starliner program. All of those are in those defense and space program charges there. In terms of the commercial side, we knew how bad things were going to be in the fourth quarter because the machinist strike lasted seven weeks. CNBC's Phil LeBeau.

Novo Nordisk, which makes Ozempic. Its shares were soaring on positive early-stage weight loss drug trial results for a drug called amicretin. It's an injection in this test, but it's also testing a pill version. President Trump signed an executive order promoting cryptocurrencies, paving the way for a national stockpile, which would potentially use tax dollars to buy cryptocurrencies, pushing up the price for current crypto owners. JPMorgan Chase is the biggest bank in the U.S. CEO Jamie Dimon paid $39 million in salary last year. It was a record year for the bank. Still below what the CEO of Disney was paid at $41 million for CEO Bob Iger.

Store closures spiked last year. More expected to close this year. CoreSite Research says Big Lots, Walgreens, Party City, 7-Eleven, Macy's, and the Container Store are among the chains closing multiple locations. New in theaters for the weekend, Lionsgate's Flight Risk, Neon's horror film Presence, and IFC's thriller Inheritance. Jessica Ettinger, CNBC. When you think of wealth, what do you see? Is it money in the bank? Is wealth a life filled with purpose? Find opportunity. Unleash potential. Keep your future in focus. CNBC. Live ambitiously.