CNBC Business News Update - Market Close: Stocks Mixed, US-Iran Talks in NYC, California Declares Emergency • 9/22/26

Episode Date: September 22, 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 Wednesday morning after a mixed Tuesday for the major averages. Although the NASDAQ did hit a fresh intraday record high investors have been monitoring Mideasties tensions and geopolitics with the UN General Assembly on in New York City. China's president headed to the White House. Here are the closing numbers. The Dow was down 185 points, led lower by shares of Cisco, which were down four. and a half percent. The S&P 500 index was unchanged, and the NASDAQ was up 122 points, almost a half percent. Many of the chipmaker names were in the green. CNBC's Mike Santoli on some of the Wall Street chatter about the markets mimicking the time period before stocks had a major pullback in 1999. There are some similarities. We have such a concentrated index with the top 10 stocks, you know, close to 40% of the index weight, vastly higher than it even

was in 99 and 2000. It does tell us something about the character of this market, which is it's not an all-in or all-out market. I don't know that it can tell you for sure that something unstable is happening below the surface and it's going to culminate in something particularly dangerous. Oil ticked lower on word that a three-hour meeting happened in New York between the U.S. and Iran on Tuesday. President Trump speaking on the sidelines of the UN saying that U.S. officials had a three-hour meeting with an Iranian delegation.

The president called it a good meeting and a productive meeting. They had a very good meeting, and we'll see how it turns out. But certainly, it's to their advantage to make a deal. The president also said he expects there to be another meeting between the two sides quite soon. CNBC's Megan Cassella. Facebook and Instagram parent meta shares finished slightly lower Tuesday. They soared more than 10 percent the day before.

on excitement over its consumer AI agent called Muse, which hit number one on the Apple free app chart. You can set it up to do things for you. News could be a threat, though, to some other companies. Here's CNBC's Julia Borsden with Carl Kintanilla. Among the biggest losers today are Schwab, Expedia, Intuit. I mean, those are businesses that ostensibly could be disrupted if people start adopting news or are something like it en masse.

There's this question about who will agents? hurt, right? Which companies are going to suffer from this? Expedia, you mentioned, could you ask Muse to plan a trip for you or find the best deal on a hotel? That's where this agentic piece of this comes in and could have much broader impact than just disrupting search. Extreme weather events have states like California planning ahead. California declaring a state of emergency ahead of what is likely to become a historic El Niño event. The state urging residents to prepare for potential flooding, slides and strong storms, and the cost of dealing with these disasters keeps growing. That's CNBC's Kelly Evans. President Trump's disclosure form is out for the month of July.

Here's CNBC's Aman Javers in Washington. A lot of trades here. The president continues to trade actively, although he says it's managed through third-party firms that do the trading for him. Total purchases, we see about $43.6 million in purchases, total sales, $35.6 million in sales. It's done by outside third-party. And they say those third parties are engaging in daily tax loss harvesting. So you see the president going in and out of some of the same stocks throughout the course of the month on different days. On Wednesday's watch list, earnings are coming from General Mills, Sintas, Manchester United, and

paychecks. McDonald's will hold its investor day. And Meta Connect is on the biggest event of the year for the parent of Facebook and Instagram. CEO Mark Zuckerberg speaks Wednesday night. Jessica Eddinger, CNBC.