CNBC Business News Update - Market Close: Stocks Lower, Intel Shares Pop 12% on Strong Results, Texas Instruments Shares Soar 19% Best Day In 26 Years 4/23/26

Episode Date: April 23, 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 down day for the major averages. During the day, the S&P 500 index ticked into the green briefly, setting a fresh intraday record high. But in the end, it was a down day. The Dow was down 179 points led lower by shares of Salesforce, which were down almost 9%. IBM shares were down 8%. The S&P 500 index was down 29 points. The NASDAQ was down 219 points. And Nvidia shares on Thursday were down almost 1.5%.

But there were companies who shares hit fresh all-time highs like Caterpillar Cummins. Applied Materials, analog devices, AMD Broadcom Dell, and Texas instruments, who shares soared 17% for the best day in 26 years. The market is looking through the noise that we're seeing with the situation. in Iran. As long as the straight of her moves remains in a blockade situation, markets are going to be looking at that a bit negatively, a bit of a drop today. But if you look through that and look at the firepower of earnings, particularly from the tech sector, the Magnificent Seven and others, it's a very powerful tailwind that we're seeing for markets.

Round Hills Dave Maza on CNBC. Intel shares searched 12% after hours Thursday on strong quarterly results. Microsoft planning its first ever voluntary buyout. for up to 7% of its workforce or about 8,000 people hoping employees choose to leave rather than wait for job cuts. And Facebook and Instagram parent meta, also cutting thousands. Meta confirming it will lay off 10% of its workforce. That's about 8,000 employees. These job cuts begin on May 20th. Now back in January, meta laid off 10% of the staff who was focused on Metaverse-related projects.

And just last month, laid off several hundred employees across a row. range of units, including Facebook and reality labs. That's CNBC's Julia Borsden. More people applied for unemployment benefits in the U.S. last week than expected, but the number is still tame. U.S. crude oil popping on Thursday, $94 a barrel, Brent topping 104 a barrel. American Airlines and Southwest, each cutting their earnings forecasts for the year because jet fuel prices have soared. Southwest CEO Bob Jordan says they're cutting capacity. trying not to fly routes with only half full planes. And yes, they're raising ticket prices trying to recover what they're having to shell out for jet fuel. Fuel is certainly a factor. It's really, you know, impacting the results, but it's a distraction. There's nothing that we can do about it.

And if you think about recovery from fuel, there's been a lot of discussion of fares and how much can we recover. The fair environment is really constructive. I mean, certainly fairs are moving right now. War and the highest gas prices in four years for consumers. And C&BC's senior economics reporting, Steve Leesman has the new CNBC All-America survey results. President Trump's overall in economic approval ratings plunging in the latest CNBC All-America Economic Survey, and what appears to be direct fallout from widespread dissatisfaction with the war with Iran, high gas prices, and negative views of the economy.

58% disapproving for a minus 18 net. That's the most underwater President Trump has been for either of his two terms. On his handling of economy, similarly bad numbers, 39% approving, 60% disproving. That's a negative 21 net approval rating. On Friday's watch list, we get earnings from Procter & Gamble. We get the latest on consumer sentiment. New in theaters, A24's thriller, Mother Mary, IFC's thriller over Your Dead Body, and Lionsgate's Michael Jackson's story, Michael. Jessica Eddinger, CNBC. CNBC, live ambitiously.