CNBC Business News Update - Market Midday: Stocks Higher, PepsiCo CEO on Q1 Results, Schwab Enters the Crypto Trade

Episode Date: April 16, 2026

From Wall Street to Main Street, the latest on the markets and what it means for your money. Updated regularly on weekdays, featuring CNBC expert analysis and sound from top business newsmakers. Anchored by CNBC's Jill Schneider. 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 Jill Schneider, CNBC. We're back in the green on Wall Street in midday trading. The Dow is up 84 points. The S&P 500, higher by 20, about a third of a percent, and the NASDAQ up 100, about four-tenths of a percent. Both the S&P 500 and the NASDAQ reached new record highs earlier today. President Trump says the leaders of Israel and Lebanon have agreed to a 10-day ceasefire after officials from those two countries met in Washington today. The temporary truce set to start at 5 p.m. Eastern. PepsiCo shares higher today after the company beat expectations. for its Q1 report. Price cuts helping North American food volume grow for the first time in more than two years. PepsiCo chairman and CEO Ramon LaGuarda spoke with CNBC about inflation concerns. If there's some surgical pricing decisions that we need to make globally because of inflation, we will make them. But we have seven or eight months before we do that. And so we will take our time. We'll make sure that we play offense. We continue to grow this business. Shares of Charles Schwab slightly lower after the company reported first quarter. results this morning. The company also announcing plans to launch Bitcoin and Ethereum trading to

to compete with the likes of Robin Hood. Charles Schwab, CEO Rick Worcester, spoke with CNBC about the new initiative. Well, we rolled it out to employees to test it and pilot it, and our employees are loving the experience and actively trading on our, on Schwab.com today with crypto, and we'll launch it out. We'll launch it to clients in the coming weeks. Couldn't be more excited about that. Some big movers today, Abbott Labs is trading at Lowe's not seen since November 2023. Garmin has pulled back but was trading earlier today at all-time highs, dating back to its IPO in 2000, and advanced micro devices up 7% also trading at all-time high levels since its IPO, which was in 1972. The world's biggest chocolate maker is taking a hit due to higher cocoa prices.

Swiss company Barry Calabo slashed its operating profit forecast today. The company also cites industry overcapacity and potential supply disruption linked to the Iran war. Jill Schneider, CNBC. CNBC is the network for ambitious people. Ambition. It's got America written all over it.