CNBC Business News Update - Markets Midday: Stocks Having Best Day Since May, Boeing Defense Jet Workers Strike, Elon Musk Gets $24B Stock Award From Tesla 8/4/2025
Episode Date: August 4, 2025The latest in business, financial, and markets news and how it impacts your money, reported by CNBC's Peter Schacknow ...
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I'm Peter Schack, now CNBC.
The stock market is having its best day since the end of May, but we should also point out
that today's gains are not quite enough to make up for Friday's slide, which came after
that weaker-than-expected July jobs report.
The Dow gaining 454 points at 44,042.
The S&P 500 1.2 percent higher, or 75 points.
The Nasdaq Composite is jumping 1.2% higher, or 75 points. The NASDAQ composite is jumping 1.6% or 338 points.
The Dow would break a five-day losing streak
with a gain today,
while the S&P 500 is aiming to end a four-day skid.
About 3,200 Boeing workers are out on strike today.
Members of the machinists and aerospace workers
walked out after failing to reach a contract agreement.
These workers produced defense-related aircraft,
and they want something close
to what their commercial jet counterparts got
when their walkout ended last year.
The pay package for those machinists
on the commercial side, guys, 38% raise.
The contract that was rejected on the defense side
by the machinists was a 20% raise.
So I'm sure they're looking at their fellow workers and saying,
we went closer to 38%, not 20%.
That's CNBC's Phil LeBeau.
Elon Musk has received a nearly $24 billion stock award from Tesla,
which would vest in two years if he's still at the automaker.
This replaces a prior $50 billion reward that was tossed out by a court last year.
Tesla shares are up 1.5% today.
Battery maker Energizer is seeing its shares power higher by nearly 25% after it reported
better than expected quarterly revenue and raised its full-year outlook. Peter Schacht now, CNBC.
Wednesday, August 6th. Join CNBC's virtual small business playbook event, Real World Insights, on navigating
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Register now at CNBCEvents.com slash small biz.