CNBC Business News Update - Market Close: Stocks Mixed, S&P 500 Index And Nasdaq Notch Fresh Record Highs, Airlines May Soon Look For Government Handouts 4/27/26

Episode Date: April 27, 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 Tuesday morning after a record setting Monday on Wall Street. The S&P 500 index and the NASDAQ built on the record highs they opened with with some modest gains. Starting with the Dow, it was in the red, down 62 points. McDonald's shares let it lower. They were down 3%. The S&P 500 index added eight points. The NASDAQ added 50 points. Incremental record closed. It's kind of interesting. This rally has slowed down in the last, let's say, six or so trading sessions. Honestly, I think the market was just more preserving the gains today and waiting for that big flood of earnings to come in and see

if we can validate this rally. CNBC's Mike Santoli. Shares of Invita were up 4% on Monday. Companies who shares hit fresh all-time highs on Monday include Google Parent Alphabet, Micron, and Intel, building on its best day since 1987 last Friday when it gained 24%. Monday it added another 3%. Noticing higher prices at the pump, U.S. crude at a two-week high, around $97 a barrel. It was $67 a barrel on the day before the U.S. launched missiles into Iran. AAA says prices at the pump are back up. The national average for a gallon of regular, $4.11. Kevin Warsh is on pace for Senate confirmation to become the next Federal Reserve chairman. after President Trump pressured current Fed Chair J Powell to lower interest rates to no avail. A Senate Banking Committee vote is set for Warsh on Wednesday.

Powell's term as chair ends May 15th. Powell resisted Trump to base decisions on data. Bridgewater founder Ray Dallio tells CNBC Trump's pick Warsh shouldn't just cut interest rates because the president wants him to. Everybody's going to look at how he behaves in terms of monetary policy. So if you were to take and ask that question to almost, anybody who's objective, they would say, certainly you would not cut interest rates now, okay? You will lose your credibility. The Federal Reserve would lose its credibility, particularly now. The Trump administration reportedly considering helping spirit airlines in bankruptcy and

facing liquidation, but every airline may soon have its hand out, as it's the U.S. war on Iran that sent jet fuel prices soaring. First reported by the Wall Street Journal yesterday, and essentially it comes down to this. You've got an association of what they call value airlines, the low-cost carriers. We're talking about a velo, frontier, a legion, sun country. They want the federal government to offer them assistance if they are going to be stepping in and offering assistance to Spirit Airlines. This is what people are concerned about within the airline industry and in business in general. You help out Spirit. Now you have other airlines saying, well, help us out as well. It's only a matter of time before the other airlines. JetBlue,

Delta, United American. If everybody else is getting help, they're going to say, why shouldn't we get help as well? CNBC's Phil LeBoe. Investors are waiting for important earnings reports coming Wednesday. It's a big week. Four of the so-called magnificent seven stocks will report after the closing bell. Facebook and Instagram parent meta, Amazon, Google Parent Alphabet, and Microsoft.

Then the next day, Thursday, Apple will report. On Tuesday's watch list, the Fed begins a two-day meeting on interest. interest rates, it's expected to hold them steady. We get earnings from big names like Coca-Cola, General Motors, UPS, Visa, and Starbucks. We get a read on home prices with the S&PK Schiller Home Price Index. Jessica Eddinger, CNBC. The central bank's key interest rate is expected to hold steady. But could the Iran war stall future cuts? Wednesday at 2 Eastern and streaming on CNBC Plus.