CNBC Business News Update - Market Close: Stocks Higher, Dow Closes At New All Time High, Walmart Shares Fall On Disappointing Outlook 5/21/26

Episode Date: May 21, 2026

CNBC Business News Update with Jessica Ettinger - market numbers and news featuring CNBC expert analysis and sound from top business names. Visit https://www.cnbc.com/ for more. 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. Wall Street opens Friday morning after a record-setting Thursday for the Dow, which closed at a new all-time high. Major averages were all in the green. Oil prices and bond yields fell. The Dow was up 276 points led higher by shares of IBM, which soared up 12%. The S&P 500 index up 12 points. The NASDAQ up 22 points. NVIDIA shares dropped Thursday. Even after strong quarterly results, they were down one and three quarters percent. You know, we get a little bit of a hint of a headline that says maybe things clear up in the Gulf and oil softens up, yields come down. You know, there's a little bit of a bid in stocks after that, but it did fade, right? We need confirmation for that to last. CNBC's Mike Santoli, companies who shares at fresh all-time highs on Thursday include Apple, Lamb Research, MetLife, Goldman Sachs,

Morgan Stanley, Palo Alto Networks, and CrowdStrike. I think the market is pretty healthy. It showed resilience in the face of higher oil, higher yields. Stocks, compared to the start of this year, have more upside into year end. We've got a few things we have to work through as we get later through the year. But I think for now the fundamentals are healthy and that's supported by earnings. Fundstrats Tom Lee on CNBC. U.S. crude oil prices pulled back from over $100 to $97.

dollars a barrel by Thursday afternoon. Something's happening in the Middle East. The ship traffic data for MarineTraffic.com. It does look like some of the oil tankers in the Arabian Gulf are beginning to move again. Maybe they're just moving around because they have to make water, or maybe they're paying the toll to Iran. Either way, there is something literally shifting in the Gulf. CNBC's Brian Sullivan.

President Trump had said negotiations to end the war were in the late stages. One Iranian official reported. said enriched uranium must stay in the country, so there's been a deal breaker and a barrage of headlines. Walmart shares fell 7% Thursday on disappointing guidance after a strong quarter. The chain says consumers are starting to feel the highest gas prices in the U.S. in four years. Every state now has $4 gas. AAA says the national average for a gallon of regular hit $4.56. They did say today that they do expect potentially some price inflation and the second half. when higher gas prices start to impact their suppliers.

You're expecting a little bit more weakness from the consumer. But they are benefiting from that. Best share growth in five years. That's because those higher income shoppers are looking for value and they're going to Walmart. That's CNBC's Gabrielle von Rouge. Instagram and Facebook parent met us settled. The first case set for trial seeking to make social media companies cover the costs that school districts have incurred to fight mental health issues in students

fueled by their platforms. This first case was brought by a school district in Kentucky. A record-breaking 45 million Americans will travel over the Memorial Day holiday weekend in the latest AAA forecast, even with gas prices running about $1.50 a gallon higher than last year. On Friday's watch list, President Trump's pick for Fed chair, Kevin Warsh, will be sworn in. Earnings are coming from BJ's wholesale. New in theaters, Baby Yoda is back in Disney's, Star Wars, The Mandalorian, and Grogu, and Paramount's thriller, Passenger, is new.

Jessica Eddinger, CNBC. I wake up every day with two missions. How do I make my bosses more money? How do I get some of it? And I'm not apologizing for that to anybody. Our can't miss conversation with ESPN, Stephen A. Smith. Sign up for the CNBC Sport newsletter. Go to CNBC.com slash sport.