CNBC Business News Update - Markets Midday: More Record Highs For Wall Street, Cyber Monday Sales Jump, Super Micro Computer Shares Soar

Episode Date: December 2, 2024

The latest in business, financial, and market news and how it impacts your money, reported by CNBC's Peter Schacknow

I'm Peter Schach, now CNBC. NASDAQ now up 1% or 196 points. Both the S&P and NASDAQ have hit record intraday highs in today's action. Black Friday sales were up more than 10% over last year, according to Adobe Analytics. And today, Cyber Monday is expected to see a record $13.2 billion in spending. An increasing number of sales are taking place on social media with live QVC type events. Amber Vins-Box is the co-founder of LTK, whose business is connecting online content creators and retail brands. This year we expect for our shoppers to buy over five billion dollars worth of products on the LTK platform. And so it's become a pretty scaled business and something that, you know, over the last decade has become culturally normative.

The vast majority of the population now notes that they do shop actively from creators. In the wider population, it's 56% right now buy from creators, and that's a 64% increase just year over year. Among stocks on the move today, Super Micro Computer is leading the S&P 500 with a gain of more than 27%. The server maker said an internal probe of accounting procedures found no evidence of fraud. Its auditor, Ernst & Young, had resigned in October after raising various concerns that the company says are not supported by the facts. Cruise line operators are having a good day today. Norwegian up nearly 6%, Carnival up almost 3%, and Royal Caribbean up about

1%. Peter Schach now, 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.