CNBC Business News Update - Market Open: Stocks Higher, Nasdaq Hits Record High, Maersk Says A US Escorted Ship Passed Through The Strait of Hormuz 5/5/26

Episode Date: May 5, 2026

The CNBC Business News Update with Jessica Ettinger features market numbers & news with CNBC expert analysis and sound from top business names. Updated throughout the business day. Visit https://www.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 Eddinger. CNBC, Wall Street higher out of the gate. Investors watching the Middle East shipping company Marisk says one of its container ships made it through the Strait of Hormuz with a military escort. The Dow up 179 points. Amazon shares leading it higher. They're up more than 2%. The S&P 500 index adding 45, very near a record high. The NASDAQ up 215 points this morning, 8 tenths of a percent. checking shares of invidia, they're higher by a half a percent. U.S. crude oil ticking up to $103 a barrel when President Trump today told Fox News, Iran will be blown off the face of the earth if it attacks vessels that the U.S. is guiding through the strait. Energy aspects, Amrita Sen, tell CNBC, well, prices really should be higher. If anything, I'd say prices are not high enough, right? We're losing close to 12 million barrels per day, every day, homeos. remains disrupted because production is shut in across the region and Iranian production is actually starting to come off as well. So I'm surprised and remain amazed that the futures market continues

to discount just how much supplies we are losing. The physical market has, right? We've priced $150, $160 and I do think it's a matter of time that the futures market catches up. Bitcoin above $80,000 today, Amazon's new service allowing outside businesses to deliver materials and products using Amazon. Supply chain networks, shares of UPS and FedEx were tumbling. Amazon says companies like Procter & Gamble and the retailer American Eagle outfitters have already signed up. Amazon CEO Andy Jassy telling CNBC's mad money host Jim Kramer, why the company is spending so much on AI. The really big capital expenditure bet that we're making is because we believe that AI is the biggest technology transformation in our lifetime. It's going to reinvent every

single customer experience we know and altogether new ones we never imagined. Palantir out with better than expected quarterly results, growing revenue 85% in the last quarter. Anheiser Bush out with strong quarterly results, even as fewer people drink alcohol. Anheuser Bush in bed posting first quarter profits and revenues that both came in above consensus estimates. This is the owner of Budweiser, Corona Stella Artois, among others, saw its beer volumes rise even as global alcohol consumption weakens. And Heiser Bush's CEO just told us this morning that its consumer-centric strategy is driving growth and the company has moved into the non-alcoholic beverages, kind of business more forcefully, with non-alcoholic beer revenues now rising 27% for the quarter.

CNBC's Dominic Chu, Pfizer shares ticking higher today. Pfizer earnings and revenue topping estimates a company pointing to growth by recently launched and acquired products. Revenue from Pfizer's COVID vaccine and antiviral pill has been declining. companies look into longer-term investments in its pipeline to counter the drop, including its recent $10 billion acquisition of obesity biotech, MetSera. CNBC's Melissa Lee. Paramount beat Wall Street expectations. It's Paramount Plus Streaming Unit, boosting some of the business there.

Pinterest shares were surging higher on strong earnings and an optimistic outlook. Ferrari had a good quarter ahead of the debut of its first electric vehicle, the Lucche EV, premieres. in about three weeks at a base price of about $650,000. Jessica Eddinger, CNBC. Get your ticket to CNBC Pro Live. Redefine financial success with strategies from some of CNBC's top wealth advisors. Get your ticket now at CNBC Events.com slash wealth for women.