CNBC Business News Update - Market Close: Stocks Mixed, Subscription Muse Assistant, October Surprise Watch • 10/12/26

Episode Date: October 12, 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. I'm Jessica Eddinger. Wall Street opens Tuesday morning after a mixed. Columbus Day Monday of trading, the bond markets were closed for the holiday. Investors are getting set for earning season. On Monday, the Dow was up 195 points. Sales Force shares led it higher. They were up 2%. The S&P 500 indexed down four points. On Monday, the NASDAQ fell 120 points. Most of the big chipmaker names were in the Red. Companies who shares hit fresh all-time highs on Monday include Ab V, Palantir, and Visa. The bull market turned four years old Monday. Here's CNBC's Brian Sullivan. Over the last four years, the Dow's returned 78%. The S&P 500 up 118%. And the NASDAQ, really printing the money, up 162%. Meta debuted the new Muse Wonder AI model at a price.

Users of the Muse AI Assistant app will have to subscribe at a monthly cost of $20 to $100. The FAA has warned U.S. Airlines of safety risks after attacks at the airport in Riyadh, the capital of Saudi Arabia. Delta now delaying the launch of its new service to Saudi Arabia until next March. Here's more from CNBC's Brian Sullivan, Sarah Eisen, and Carl Keentania. Delta flights from Atlanta to Riyadh. Well, they're going to postpone it. The first ever direct flight to Saudi Arabia was supposed to happen on Delta from Atlanta on October 23rd. This is ahead of the big FII conference.

There's safety issues here. Boards are going to say to CEOs. We just don't think it's right. But the conference is underway. We don't want this kind of stuff to win out, right? Like they're clearly trying to scare people off. That's the definition of terror. Big banks are set to report quarterly results for the unofficial start of earnings season Tuesday morning.

Robert W. Baird's David George on CNBC. Overall, I think it's going to be a pretty good quarter again. Things are kicking off with J.P. Morgan and some of the big money center peers. Earnings overall, we're expecting to grow 20% year every year. Oil prices were higher on Monday for both U.S. crude and Brent crude. Overseas, eyebrows are raised over President Trump's deal with Russia to try to lower diesel prices in the U.S. before midterm elections, which are three weeks away. Here's CNBC's Steve Sedgwick with the National Center for Energy Analytics in Washington, D.C.,'s Neil Atkinson.

I didn't think I would see this kind of deal between the U.S. and Russia. Well, one of the biggest exporters of diesel on the planet is asking one of the other biggest exporters of diesel to sell it oil. This is quite an extraordinary deal that President Trump and Putin have made. But the reality of it is, is that the volumes talked about are very small. Experts are watching for a midterm October surprise that could sway voters at the last minute. A very real contender for a shock to the election, the decision that is, of course, illegal to suspend sanctions on Russian imports of diesel. This is causing a fracture within the Republican conference in a couple of really important states. The entire delegation of Alaska, John Curtis in Utah, and then also Mike Rogers in Michigan.

This tension between Trump supporting Russia and the Republican Conference strongly supporting Ukraine could upend this election going into the final stretch. Data partners Henrietta Trays on CNBC. Apple is hosting a product launch on Tuesday. It's said to include home products. Also on Tuesday's watch list, we do get earnings from banks like J.P. Morgan Chase, Citigroup, and Goldman Sachs. Jessica Eddinger, CNBC.