CNBC Business News Update - Market Midday: Stocks Soaring on Iran Developments, Oil Plunging, Tech Stocks Rallying

Episode Date: April 17, 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 and reported 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. Oil prices plunging and stocks surging in midday trading as President Trump and Iran declare the Strait of Hormuz open for business. The NASDAQ on track for its longest winning streak since 1992. The Dow is up 995 points more than 2%. The S&P 500 higher by 95, about a percent, and a third. And the NASDAQ composite is up 404 points, one and two thirds percent. Both the NASDAQ composite and the S&P 500 trading at record highs. Again, oil prices plummeting following Iran's announcement as supply disruption fears lessen.

Warren Pyes is the co-founder of 314 research. I think one of the things we've talked about throughout the closure of the Strait of our moves is the longer it goes, the higher you raise the long-term oil price. So if we actually have an imminent reopening of the straight, I think we obviously dodged the worst-case scenario. I think long-term rent's going to settle in somewhere around $80 a barrel. When I say long-term, we're probably average for the next. two years. Big tech stocks are on track to wrap a massive week with shares of Oracle, advanced micro devices, and Microsoft set to post historic gains and benchmarks. Oracle up 32% this week is on track for its best week since 1999. The company expanded an AI data center power deal with

Bloom Energy on Monday. AMD is up 13% this week and hit an all-time high on Thursday, climbing more than 40% during a run of 12 consecutive days of gains, its longest streak in more than 20 years. of Netflix down about 10% today after the streaming giant released its second quarter numbers. Investors seemingly disappointed that the company didn't raise guidance for the year. Netflix also announced Chairman Reid Hastings will leave the board when his term expires in June. Guggenheim Securities Media analyst Michael Morris still has a buy rating on Netflix shares. We think that they continue to be on track for those long-term goals. And that's strong double-digit revenue growth. It's high teens operating profit growth. That translates to well over 20% earnings growth through

the end of the decade. So I think long-term investors will continue to have confidence about that ability to compound. Jill Schneider, CNBC. Money doesn't make the world go around. Information does. And CNBC is the great economic equalizer because we provide that information so you can make the decisions that are right for you.