CNBC Business News Update - Market Open: Stocks Higher; Trump Won't Sign Housing Bill, Delta Fares Up • 7/10/26

Episode Date: July 10, 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. Modest gains this morning for the major averages. Iran jitters have eased. The Dow is up 60 points. And video shares leading it higher. They're up more than 2% this morning. The S&P 500 index up 14. The NASDAQ's up 10 points. President Trump posting this morning, he will not sign the housing bill into law to protest Republicans refusing to pass a controversial election measure known as the Save America Act that purports to cut down on non-citizen. voting in U.S. elections, although that's already illegal and happens rarely. CNBC's Carl Kintanilla. The bill is set to become law tonight at midnight, often called the most significant housing reform in a few decades, although the president the other day called it a yawn. The housing bill hopes to lower costs for homebuyers and increase some of the supply. It caps the number of single-family homes that institutional investors can buy and then rent out. It also

removes some red tape for some of the builder. tech investors poised to snap up ADRs for South Korean chipmaker SK.K. Heenix today, it's a trillion dollar company. It trades in South Korea, but today it offers American depository receipts, which is how foreign companies trade and expand into the U.S. ticker symbol SK. Hy-H-Y-V. Delta Airlines says higher airfares are going to stay. Even with lower jet fuel prices, the company's CEO says the original 2026 profit goals within reach for Delta. Here's Delta's CEO Ed Bastion on CNBC. It was a challenging quarter.

I mean, solid results. Fuel prices up 75%. Added $2 billion to our cost base within the quarter. Our team was able to offset the majority of that cost, speaking to the health of the demand set. The demand for our product is really strong. The demand for air travel is really strong. And as a result of that,

we posted a $1.4 billion profit, 9% margins. And to put that in context, We estimate over 60% of the industry's profits this quarter will be Delta, despite only having 20% of the market share. A Ryan Air jet and a disturbing accident in Greece. Ryanair said one of its planes was forced into an emergency landing after a window was dislodged. Local media reported that a piece of engine broke off, smashed the window, causing the cabin to decompress and sucking one passenger partially out of the window. Mironair did not confirm the account but said the plane landed normally. Passengers returned to the terminal and one person, probably I guess that person,

received medical assistance. That's CNBC's Joe Kernan. U.S. crude oil sitting around $72 a barrel today back up after falling down into the 60s last week. The national average for a gallon of regular gas is climbing again. AAA says it's now $3.88, up $6 per gallon from. a week ago. CNBC's Pippa Stevens with more on oil and the Strait of Hormuz. The refining stock.

So that seems like Valero and Marathon Petroleum, hitting record highs this week, thanks to the jump in gasoline and diesel futures. A flood of oil has hit the market as ships exited the strait of Hormuz, sending prices lower, 13 million barrels of previously stranded crude exited. So all of that is now being flushed out. What we need to see is ships entering. There isn't much spare refining capacity globally, which is why we're seeing still elevated fuel prices.

Stock up on forever stamps if you mail letters or even holiday cards. This Sunday, the first class stamps go up four cents apiece to 82 cents. I'm Jessica Eddinger, CNBC.