CNBC Business News Update - Market Open: Stocks Higher, Microsoft +14%, Meta's First Earnings Miss in 3 Years · 7/30/26

Episode Date: July 30, 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.

I'm Jessica Ettinger, CNBC, Wall Street with some gains out of the gate after yesterday's stock sell-off, led by Microsoft shares and chipmakers today. The Dow up 200 points. Microsoft shares leading it higher, they're up 14% this morning. The S&P 500 index is up 61 points. That's 8 tenths of a percent. The NASDAQ, up 405 points, 1.5%. chipmakers in the green except for Qualcomm, which is falling 5% this morning, but microns up 9% Intel up 7%. AMD also up 7%. Oil prices ticking lower, although now Iran is saying it will punish the aggressor today after a wave of U.S. strikes on that country. Investors worry the U.S. Iran war is far from over. Investors also weighing slowing U.S. economic growth coming in even worse than expected at a weak pace of 1. percent in the second quarter in the latest GDP report on gross domestic product. And inflation came in well above the Fed's target of 2 percent in June in the personal consumption expenditures

report inside the GDP numbers. Year over year PCE, that is coming in at 3.7, largely as expected. You know, June numbers are already considered old. What's going on with the MOU, of course, being violated around July 7. Crude oil reached its lowest level before the MOU was violated, and that was what, about $68, $68 and a half dollars in September future. So we're about $15 higher. CNBC's Rick Santelli. The Fed decided to hold interest rates steady yesterday, even as some investors worry that high inflation is here to stay with soaring oil prices. The yield on the 30-year Treasury hit its highest since 2007. Investors dumped long bonds.

Meta and Microsoft reported quarterly results last night after the closing bell, and Meta reported its first earnings miss in three years amid billions of dollars in legal and severance expenses. shares tanked 9% in early trading. As we mentioned, Microsoft shares soaring 14% on good results, but it benefited from its investment in AI company Anthropic. Star AI investor Leopode Aschenbrenner and his sales. situational awareness firm unwinding some AI trades after steep losses. This is according to sources speaking with CNBC's David Faber. Significant losses being taken at what has been an incredibly

well-performing hedge fund run by a 24 perhaps not 25 year old gentleman. Leopold Ashton Brenner formerly at open AI, a valedictorian of the class at Columbia. And how old was he when he was? Graduated at 19. Brilliant in his choice of stocks to own as he opened a fund at what, 50 million, not that long ago, and it ballooned to as much as $24 billion. And this week has featured a lot of market conversations wondering about the pain that he's taken. But what changed, I can tell you that this morning, a number of the firm's prime brokers are out there marketing various parts of his portfolio.

CNBC's David Fabred there with Mad Money host, Jim Kramer. Oil giant Shell posting its best quarterly profit in four years as the U.S. War with Iran boosted oil and gas prices. U.S. crude, sitting around $84 a barrel today. AAA says prices at the pump barely moved overnight. The national average for a gallon of regular $4.10. Spider-Man, brand new day. Opening tonight in many theaters,

the Hollywood reporter says it's aiming for the year's biggest debut and one of the top grossing openings ever. Lots more on all these stories at CNBC.com. I'm Jessica Eddinger, C&B.N. be safe.