CNBC Business News Update - Market Close: Stocks Higher, Dow Regains 50k, S&P 500 Index Closes Above 7500 For The First Time, Record Highs For The S&P 500 Index And The Nasdaq, Cerebus Debuts Up 68% 5/14/26

Episode Date: May 14, 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, major averages all higher. The Dow recaptured 50,000, and the S&P 500 index closed above 7,500 for the very first time. Let's start with the Dow. It was up 370 points, led higher by shares of Cisco. They were up 13% on Thursday. The S&P 500 index, up 56 points, the next. NASDAQ was up 232 points. Both the S&P 500 index and the NASDAQ closed at fresh record highs. Companies who shares at new all-time highs on Thursday include Cisco. Philip Morris, Assurance, Morgan Stanley, Broadcom CrowdStrike F5 Networks, Lamb Research, Palo Alto Networks, Texas Instruments, On Semmy and Invidia.

A blockbuster, initial public offering on Thursday, chipmaker, Cerebris, opened up more than 100% selling shares to the public for the first time. Here are CNBC's Scott Wapner and Kelly Evans. There we go. There it is. Yes, it does. Begin trading. Look at that. At this very moment, one of the biggest IPOs, certainly of the year, has just opened for trading. The company is cerebrous. It's a chipmaker. It priced last night at 185, which was already above the expected range. $350 appears to be the open price. Pretty good for those who got in on the

IPO. Cerebrous shares ended the day up 68% in their NASDAQ debut. China will buy 200 Boeing jets. President Trump tells Fox News, while China's president Xi gave a warning to the U.S. President that mishandling Taiwan will put the U.S.-China relationship in great jeopardy. April retail sales numbers came in as expected. Americans facing higher prices, soaring inflation. Here's CNBC's Carl Kintanilla and Sarah Eisen. We got a 0.5% increase for the month of April. And keep in mind, these numbers aren't adjusted for inflation. So a lot of that could be inflation. Well, inflation adjusted, it's down to 10th. Weaker numbers at department stores, furniture stores, and clothing stores. The big gains, obviously gas stations because we're paying more for gas, food and beverage stores.

Carl, what we see here is a split more toward staples, you know, necessities. You see that during periods of inflation and tougher times. And the summer may get tougher. for American consumers and their wallets. Here's SW Retail Advisors, President Stacey Whitlitz on CNBC. Just as we got tariffs, which costs were passed on, now we're going to get another leg up, whether it's food or discretionary,

and the consumer's going to have to pay up once again, and that's going to be sticker shock. Meredith Whitney advisory groups, Meredith Whitney tells CNBC that older, middle and lower-income Americans are poised to pull back their spending. Heads of households, are now being pushed to the brink. Consumer data, the retail data that I look at, showed a slowdown in grocery spend in the month of April. Gas prices picked up in April.

You're going to start to see that come through. The retail names like Walmart and Dollar Store. On Friday's watch list, it's the final day of Jay Powell's term as Fed Chair. Round two of the second major in golf, the PGA Championship. And new in theaters Friday, Focus features horror film obsession. Amazon's drama is God is and Universal's Shrek back in some theaters for its 25th anniversary. Jessica Eddinger, CNBC. Become a smarter investor with CNBC Pro. Go to CNBC.com slash get pro now.