CNBC Business News Update - Market Open: Stocks Fall as Bond Yields Jump, Trump-Xi Summit On • 9/24/26

Episode Date: September 24, 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 Market Open. I'm Jessica Ettinger, Wall Street, pulling back this morning. You've got bond yields rising, the yield on the 10-year Treasury, heading toward 5.2 percent at a 19-year high. The 30-year Treasury yield hit its highest level since 2004. Global bond yields also hitting multi-year high. Some of what's happening is giving investors an alternative to risky stocks. The Dow down 242 points out of the gate.

Boeing shares leading it lower. They're down almost 2 percent this morning. Goldman Sachs down 1.5%. The S&P 500 indexed down 30 points. The NASDAQs down 171 points. That's a half a percent. Chipmaker shares are mixed. Soaring treasury yields could cause pain for consumers by way of higher borrowing costs, just as Americans are dealing with high inflation and higher prices at the pump. AAA says the national average for a gallon of regular back up today to 448 a gallon. Diesel fuel about a half a cent below. it's all-time high. $6.52.0.52 a gallon. U.S. crude oil back above $94 a barrel this morning. Brent's above 105. The Trump Xi Summit on today in Washington, D.C. They're expected to talk about

AI, Taiwan, trade, and Iran. Here's CNBC's Joe Kernan. President Trump traveled a joint base Andrews outside Washington to greet China's leader on tap for today. An arrival ceremony at the White House, a review of troops. The White House will host a black-tie dinner tonight with tech titans like NVIDIA's Jensen Wong, Tesla's Elon Musk, many, many more. Meanwhile, Treasury Secretary Scott Bessent telling Fox that the U.S. and China have agreed to extend a trade truce for two months until January 10th. Australia's government says OpenAI breached a government health data portal back in June the first known incident of an AI agent hacking a government website. Here's CNBC. sees Morgan Brennan. The disclosure coming after Anthropic CEO Dario Amadeh addressed the United

Nations Security Council, warning of the risks tied to AI and calling for global guardrails. I see two main categories of risk. The first is misuse of AI models, for example, misuse by bioterrorists to create biological weapons. The second risk is loss of control, model capabilities accelerating beyond developers' ability to control them. These questions are global in scope and concern all of humanity. Well, this latest AI agent breach highlighting the market's increased attention on the cyber defense sector,

names like CrowdStrike, Fortinet, Sentinel One, Cloudflare, all trading in record territory. Insurance companies have had a good year when it comes to major storm damage. The 26 Atlantic hurricane season broke a 112 year record reaching late September with zero hurricanes formed.

But insurers are watching a nasty Noreaster right now on the Atlantic coast. Here's Accueathers Leslie Hudson in Hampton Roads, Virginia. We have been prepping for this Northeaster for about three days, and today it will make its closest approach here to the Virginia Beach area. The eastern seaboard, extremely susceptible to beach erosion, and Virginia Beach here where we are,

has actually invested about $1 billion since 2001 trying to re-nourish this particular stretch of beach. And just last year, the nor'easter from 2025 in October, did significant damage in this region, so folks here are worried what this one will deliver. The labor market remains stable. Fewer people applied for unemployment benefits last week, $197,000. And the number of continuing claims remains near a three-year low. This is the number of people who continue to collect unemployment checks week after week. It's used as a measure of how easy it might be for people to find their next job. I'm Jessica Eddinger, CNBC.