CNBC Business News Update - Market Midday: Stocks Higher, White House May Rescue Spirit Airlines, Boeing Shares Pop On Results 4/22/26

Episode Date: April 22, 2026

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I'm Jessica Eddinger, CNBC. Investors cheering the extension of the U.S. ceasefire with Iran and stocks are higher this afternoon on Wall Street. The Dow up 329 points, more than a half percent. Boeing shares leading it higher. They're up almost 5 percent on strong quarterly results. The S&P 500 index up 58 points. The NASDAX up 310 points. That's 1 and a quarter percent. Checking shares of InVIDIA this afternoon, they're up 7 tenths. of 1%. Spirit Airlines close to liquidation, and it may be President Trump to the rescue. We can confirm that the Trump administration is putting together some type of a package that would keep Spirit Airlines from essentially going out of business. They are close to liquidation. They're in bankruptcy, and part of coming out of that bankruptcy plan has been derailed because of the

rising cost for jet fuel. Wall Street Journal reported earlier today that there is a rescue deal. that is being put together for Spirit Airlines. My understanding is it is not final. It would likely be in the neighborhood of about $500 million with the federal government likely taking some warrants. CNBC's Phil LeBoe. Meantime United Airlines, much healthier airline, not only reported better than expected quarterly results.

United CEO, Scott Kirby, tells CNBC it's going to pass on almost all of its higher jet fuel costs to customers. So fares have been rising and will go high. through the year and so far people are paying. We are passing through right now about 40 to 50% of the increase in fuel. That's faster than I can ever remember in my career. You know, we've had a doubling of fuel prices as we got through the end of the quarter. And we expect to get to 100% by the end of year. We feel really good about that we can be delivering solid results even with the rapid increase in fuel prices. European airlines are starting to cancel flights as oil is not moving out of

the Middle East amid the U.S. war on Iran. jet fuel shortages loom. Deutsche Lefanzah says that it will cancel some European routes and 20,000 short-haul flights that are scheduled between now and October in a bid to try and save jet fuel. European airlines have been struggling with potential shortages and higher prices amid the war in Iran. Jet fuel prices in Europe have more than doubled since the start of the war. Last week, the International Energy Agency warned that Europe has only about six weeks of jet fuel supply left.

CNBC's Becky Quick and United Airlines CEO Scott Kirby addressed that for his airline and the U.S. on CNBC. At the moment, everything that we can see still feels manageable to us. High prices, of course, but not an actual supply shortage. We're watching it closely, you know, at least as far out as we can see, we think things are okay. But we know it's an elevated risk, a risk that normally doesn't exist, but it's certainly an elevated risk, the longer this goes on. Boeing lost less in the last quarter as it delivers more planes. It says it hopes its new 737 max jet will be certified to fly later on this year. As we mentioned, Boeing shares are leading the Dow higher.

The Trump administration has taken steps to make it easier to build homes in the U.S. But the home builders are struggling to sell what they've already built. The builders are just dealing with too much completed units of supplies to get anything going with housing starts or permits in 2020. That might be a 2027 story. That's Housing Wires, Logan Motashami on CNBC. Mortgage rates, meantime, pulled back a little last week and would-be homebuyers jumped in to apply for home loans. Jessica Eddinger, CNBC. Get your ticket to CNBC Pro Live.

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