CNBC Business News Update - Market Close: Stocks Lower, 10-Year Yield Hits 5%, US Crude Tops $106 • 9/15/26

Episode Date: September 15, 2026

CNBC Business News Update with Jessica Ettinger - Markets & Business News With Expert Analysis From Top Business Names. Visit 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.

CNBC Business News Update. Market closed. Jessica Eddinger, Wall Street, opens Wednesday morning after a down day for the major averages. Tuesday, their sixth losing day in seven. Oil shoots higher and the 10-year treasury yield goes to 5%. Hitting 5.04, the highest in nearly 20 years. Checking the major averages. The Dow was down 328 points, a little more than a half percent. Nike shares led the Dow lower. They were down more than 2 percent. The S&P 500 index down 34 points. The NASDAQ, down 204 points. Chipmaker shares were mixed. The Fed widely expected to raise interest rates will know Wednesday afternoon. Here's BlackRock's Rick Reeder on CNBC. He doesn't think they should. I wouldn't because I think you're not going to really do much.

I mean, talk about moving the funds rate 25 basis points. Are you really going to do anything for inflation? What's driving inflation today is interest rate insensitive. Obviously, you've got war. You've got energy price. You've got education. insurance costs health care. It doesn't really do much. So what I do it, what it does adversely impact, look at the housing market that's frozen. Reader mentioned the housing market there. Mortgage rates

popped higher again Tuesday. The average rate on a 30-year fixed home loan, now above 7.2% at 2.2% according to Mortgage News Daily in February before the U.S. sent missiles into Iran. The 30-year mortgage rate 5.99. Here's Goldman Sachs Peter Oppenheimer on CNBC on why bond yields are rising. It's a reflection of a number of things. Of course, rising inflation pressures as oil prices continue to increase, but also the scale of the demand for capital coming from central banks who are all borrowing money together at the same time competing for investment dollars just at the time when the private sector is also being asked to fund huge amounts of CAPEX in the AI ecosystem.

So there's a big increase in demand for capital, and this is pushing up the cost, the price of capital. U.S. crude oil, WTI, West Texas Intermediate, topping $106 a barrel Tuesday. Payne at the pump continuing. The national average for a gallon of regular up to $4.33, according to AAA, diesel at a record high, 627 a gallon, and the midterm election looms. They will get desperate. I think policymakers will. If this gets much worse, because people are saying diesel's going to seven bucks now in certain areas. What if they do an export ban on diesel?

We're in a midterm election year and obviously prices at the pump really matter. There's going to be a lot of negative externalities of an export ban. That's not to say they won't do it. That is one way to keep domestic prices low. That's really bad for Europe and a lot of our trade partners. Cohen and Steers Tyler Rosenlicht with CNBC's Kelly Evans. Fewer people tuned into the NFL season opener last week. Here's CNBC's. Dominic Chu. More than 25 million people tuned in for the kickoff to NFL's season opener on NBC and Peacock. That's according to the Comcast's own networks sports division. The Super Bowl rematch of the Seahawks versus the Patriots was actually down about 12% from last year's opener. Meanwhile, Netflix revealing its stream of the Rams 49ers game in Australia averaged 18.5 million viewers in the United States. On Wednesday's watch list, the Fed decision on interest rates 2 p.m. Eastern, full coverage on CNBC, CNBC.com, and the CNBC app on your phone.

We also get August retail sales numbers. Jessica Eddinger, CNBC.