CNBC Business News Update - Market Close: Stocks Higher, S&P 500 Index And Nasdaq Close At Fresh All Time Highs, Apple Reports Earnings And Revenue Beat 4/30/26

Episode Date: April 30, 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 with a record setting Thursday in the books and winning April in the books as well. Both the S&P 500 index and the NASDAQ each closed at fresh all-time highs. Let's start with the Dow. On Thursday it stored 790 points, 1.5% Caterpillar shares leading it higher. They were up almost 10%. The S&P 500 index closing above 7,200 for the very first time it was up 73. points. The NASDAQ, up 219 points. Shares of InVIDIA were lower. They were down more than 4%. Companies who shares hit fresh all-time highs on Thursday include Google Parent Alphabet,

Amazon, FedEx, AMD, and Caterpillar, which first started trading on the New York Stock Exchange back in 1929 for the month. The Dow gained 7%. The S&P 500 index, up 10%. And the NASDAQ, up 15%. It's driven by earnings that continue to far exceed estimates where over 80% of stocks are beating estimates on earnings and sales. Think all on all, you have to be encouraged by the overall action to new highs. Trueists Keith Lerner on CNBC. Apple is out with better than expected quarterly results after the closing bell Thursday. Shares were lower in after hours trading, possibly on disappointing revenue from iPhone sales. Big technologies Alex Cantorowitz tells CNBC the The incoming CEO, John Turnus, has a big AI job ahead.

Where's the big AI device today? It doesn't exist. The consumer AI story has been slower. But that being said, Turner has a window to figure it out. Prices at the pump are soaring. AAA says the national average for a gallon of regular hit $4.30. And with the straight-of-horm moves closed in the Middle East because of the U.S. war with Iran. Brace your budget.

It's going to get worse. Lip-out. Oil Associates, Angie Lip-out. that $4.50 is in the cards for the national average over the next two weeks. Now, the latest U.S. inventory report is telling energy exports hit a record 14.18 million barrels per day. To put that in perspective, last year, the average was just 10.5 million barrels per day. The U.S. also flipped to a net crude exporter for the first time in decades. Now, U.S. production hasn't increased, and refinery runs are flat, meaning that oil is coming out of storage and being sent abroad.

CNBC's Pippa Stevens, U.S. oil and gas producers are selling to the highest bidder. Moving product out of the U.S. They're not state-owned. They have no obligation to keep prices low for Americans or American drivers. Eli Lilly out with blowout quarterly results as diabetes and weight loss drugs, Zepbound and Manjaro sales skyrocket. Meantime Hershey says GLP-1s are driving higher gum and mint sales. It makes ice breakers gum. and people are buying little sweet treats, the premium treat substitution effect, as people look for very small portions of something sweet.

Mortgage rates rose Thursday as bond yields ticked higher. Mortgages loosely follow the rate on the 10-year treasury and the average rate on a 30-year fixed home loan, pushing 6.5% again, according to Mortgage News Daily. On Friday's watch list, earnings are coming from Chevron and ExxonMobil, new in theaters, Disney's The Devil Wears Prada 2. Jessica Eddinger, CNBC. The new era in Omaha begins. Newly-mented CEO, Greg Abel, takes the helm at the Berkshire Hathaway annual meeting.

Becky Quick and Mike Santoli with full coverage. Watch live Saturday starting 9.15 a.m. Eastern. Only on CNBC.com.