CNBC Business News Update - Market Open: Stocks Mixed, S&P 500 Index On Pace For 20+ Percent 2024 Gains, US Treasury Hacked 12/31/24

Episode Date: December 31, 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 by CNBC's Jessica Ettinger.

I'm Jessica Edinger, CNBC. Mixed markets on this last trading day of 2024. The Dow's in the green, up 79 points, being led higher by shares of Nike. They're up more than 1% after sliding yesterday. The S&P 500 index up 7 points. The Nasdaq has dipped into the red. It is down two points. A Santa Claus rally hasn't happened yet. There's still a couple of days left. So Thursday, Friday still are within the Santa Claus rally period. It's the final five trading days of one year, first two of the next. So in theory, you can rescue the indicator. And it used to be this idea that, oh, it's an early warning signal of trouble if you don't have gains over that period of time. It was always kind of a blunt instrument. But I think you should be on alert, if nothing else, and suggest that there has been some pent-up profit-taking that's in this market after two good years, but the predictive powers are just not there. CNBC's Mike Santoli. Markets are on pace for a second year in a row

of gains of more than 20 percent, though. If you look at the entire year, it's a pretty impressive display this year, so's a pretty impressive display this year. So I think the little tiny pullback in December didn't really mean anything. Tasty Live founder and CEO Tom Sosnoff on CNBC. The U.S. Treasury says its computers were hacked by a Chinese threat actor in a major incident. The hack came through third party software and tapped into desktop computers of Treasury workers. Not only do cybercriminals not take a holiday, they typically speed up their attacks in the days and weeks leading up to what they know to be a country's holidays. Teams are taking much

needed vacations. There could be skeleton crews on board, and they've got this opportunity to strike. We've seen this opportunity to strike. We've seen this time and time again. It doesn't mean that the best and the brightest aren't at the helm watching everything. It just means that they're outmanned because you have to get it right every day. Cyber criminals only have to get it right once. Fortalist Solutions, Teresa Payton on CNBC. The last Bernie Madoff victim fund payout is ongoing now bringing the recovery of investors money to nearly 94 percent of what was reported lost in that infamous Ponzi scheme.

New Year's Eve celebrations are on for cities across the globe ringing in 2025. Jessica Ettinger, CNBC.