CNBC Business News Update - Market Open: Stocks Higher After Weak Jobs Report, Lyft & Airbnb Rise After Earnings 8-7-2026

Episode Date: August 7, 2026

The latest in business, financial, and market news and how it impacts your money, reported by CNBC's Peter Schacknow 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 Peter Shack now, CNBC. Stocks have opened higher after a weaker than expected July jobs report. The Dow up 20 points at 53,920. The S&P 500 adding a third of a percent or 26 points. The NASDAQ composite is up by 226 points or 9 tenths of 1%. The U.S. economy lost 23,000 jobs last month compared to the 83,000 job additions that economists were expecting. In Sarah Malick's view, that makes it less likely that the Fed will raise interest rates

at its next meeting in September. She's chief investment strategist at Newveen. All of that, following the June's soft CPI print, is going to give the market some ease in terms of opening the door for the Fed to not have to raise interest rates. We will get CPI next week, and we'll see if that number, again, reinforces softer inflation.

All of that is positive, but let's not forget the overhang from the Middle Eastern War and that impact, but if we can get any kind of movement there, again, next leg up for the markets. The July report also showed the unemployment rate dropping to 4.1% from June's 4.2%. Among stocks on the move this morning, ride-sharing company Lyft is seeing its stock rise more than 1%. Profit was slightly below consensus

forecasts in its latest quarter, but revenue was better than expected. Airbnb beat on both the top and bottom lines in its quarterly report. The vacation rental company's stock is rallying about 7% this morning, and clothing maker under Armour is down more than 6% after forecasting a steeper than expected annual sales decline. Peter Shack now, CNBC.