CNBC Business News Update - Market Open: Stocks Mixed, Tesla Deliveries Disappoint, Trump Delays More Tariffs 1/2/26

Episode Date: January 2, 2026

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. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

I'm Jessica Eddinger. CNBC. Stocks are mixed out of the gate on Wall Street on this first trading day of 2026. Back at it this morning after yesterday's New Year's Day holiday when there was no trading. The Dow is down 89 points being led lower by shares of Salesforce down 1.5% this morning. The S&P 500 index up 30 points. The NASDAX up 232 points. That's 1%. shares of invidia soaring out of the gate up two and a half percent stocks notched their third winning year in a row in 2025 double digit gains for all three major averages will 2026 make it four wins in a row we do start 2026 with a with a high valuation we also start it though with companies like the magnificent seven plus put in broadcom and expected to show 24 percent earnings growth this year so you know a big percentage of the economy and the market in high-growing tech sector. So is that justified or not? I think that's going to be one of the biggest questions. No doubt the bar is higher. CNBC's Sarah Eisen. It is a full trading day today, the second to last day of the so-called Santa Claus rally period,

which is the last five trading days of one year and the first two trading days of the next. And while markets are in the red for these days so far, that doesn't mean there won't be a Santa Claus rally or some sort of gain by market close on Monday. RH and Wayfair shares are higher. The Trump administration is rolling back more tariffs, delaying the increase on imported upholstered furniture, kitchen cabinets, and vanities, and even pasta, as voters scream about affordability. Tesla with a rough fourth quarter for vehicle sales after the Trump administration ended

the tax break for buying an electric vehicle, a 16% drop over the same quarter a year ago. Once you had the election, it was pretty clear that the Trump administration was going to take away EV incentives, which they did at the end of the third quarter. That's when everybody started dialing back their expectations for Tesla. The number 418,227 vehicles delivered by Tesla in the fourth quarter, the total number for all of 2025, 1.63 million vehicles. That's a decline of about 8.5% compared to 2024. And always what people are interested in is when will they hear from Elon Musk? It will be on January 28th after the bell. That's when the company will be reporting its Q4 results.

CNBC's Phil LeBoe. Warren Buffett tells CNBC that Berkshire Hathaway has the best odds of any company for lasting a century as he steps down at the age of 95. Warren Buffett has officially stepped down as CEO of Berkshire Hathaway. That's the company he built over the last 60 years. he's handed over the reins to Greg Abel. He's still going to be there as chairman, but what he's done over the last 60 years in the investing world is unrivaled.

If you just look back over the last 20 years, you'll see Berkshire B shares up by 755% versus gains of 448% for the S&P 500. But if you were looking over the last 60 years, the statistic that really jumped out of me was that stock could drop 99.2% and he still would have outperformed at the S&P 500 over the last 60 years.

That's CNBC's Becky Quick. Sacks Group missed a debt payment. The Wall Street Journal says the retailer, which recently bought Neiman Marcus, is set to file for bankruptcy protection. Jessica Ettinger, CNBC. Get exclusive reporting and data on high net worth investors, family offices, and alternative investments.

Get the weekly newsletter and special access to events at CNBC.com slash eFEC. inside wealth.