CNBC Business News Update - Markets Midday: Stocks Rally Despite Weak Jobs Report, Striking Boeing Workers To Vote On New Contract, Good News For Retirement Savers

Episode Date: November 1, 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. higher or just about 200 points. Nuveen Chief Investment Officer Sarah Malik says the numbers could encourage the Fed to cut rates at each of this year's remaining meetings. We're back to that downward trend that concerned the Fed pre-September and caused the Fed to cut by 50 basis points in November. So first of all, I think it puts 25 for sure back on the table for the November Fed, probably another 25 for December. Fed may consider 50 for November if the next payroll number for November comes in light again. The unemployment rate did remain steady at 4.1 percent last month, and economists point out that the numbers were skewed by several hurricanes and the ongoing Boeing workers strike. That strike, by the way, could end soon with workers set to vote on a new contract proposal Monday. Oil giants Exxon and Chevron both reported better-than-expected profit for

the third quarter. That's helped Chevron shares gain nearly 3 percent, but Exxon is flat after trading higher earlier. Retirement savers will be able to put more money in their 401ks next year. The IRS has issued its 2025 contribution limits of $500 to $23,500. Only 14% of workers with 401ks deferred the maximum last year, according to Vanguard. Peter Schach now, CNBC. The vote. It's as American as apple pie, as stars and stripes and spacious skies. It's iconic. You got the flag up now. Patriotic. And this November, we're all chanting.

It's your turn. Step into the box and make it stick. Voter up.