CNBC Business News Update - Market Open: Stocks Lower, Bond Yields Higher, Home Depot Sales Up In Last Quarter 5/19/26

Episode Date: May 19, 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 Ettinger, CNBC. Wall Street's in the red this morning. Body yields are higher, but stocks are off their earlier lows. The Dow down just 136 points now being led lower by shares of 3M, which are down about 2%. The S&P 500 index down 31. The NASDAQ now down 165 points. Shares of Nvidia still in the red, they're down about three quarters of a percent. Other tech names that are higher now include Microsoft. Meta and Apple. NASDAQ 100 was just up 27% in 28 days. That's a stretch rubber band. We're due for a little bit of break consolidation, getting a little geeky with technicals. We're hitting new highs. Less stocks are above their 50-day moving average,

20-day moving average. These aren't like end-of-the-world things, but this is maybe a little pause after seven new highs in just the month of May by itself is due. That's the Carson Group's Ryan Dietrich on CNBC. Higher bond yields are threatening this bull market. The yield on the 10-year Treasury had its highest in more than a year. Mortgage rates loosely follow that 10 year. And today as the spring home buying season

is underway, the average rate on a 30-year fixed home loan, now the highest since last summer, at 6.68% according to Mortgage News Daily. Mortgage rates, sticker shock. According to Mortgage News Daily, 30-year fixed rates right now sitting at their highest level since July of 2025, knocking on the door of 7% once again. That's CNBC's Morgan Brennan. High mortgage rates at a sluggish real estate market. This does not help home goods, retailers, and chains like Home Depot, which reported quarterly results this morning. These companies do better when the housing market is popping, but Home Depot says its core shopper is resilient. Sales rose 5% in the last quarter. It raised its guidance, but its shares were ticking lower.

The House of Representatives, meantime, debating a bill today that would stop big companies from buying up certain homes. President Trump and his State of the Union made clear that he thought that over the United States. over the years, there have been a real challenge with moms and dads trying to go out and buy a house for cash and finding out that they were competing through their realtor with some big institutional investor. I think that's a small number of houses across the country, but it is an issue. And I told the president we ought to be able to find a way to put some limitation on that without disrupting capital flows into housing. That's Arkansas Republican Congressman French Hill on CNBC. Oil price is high again. U.S. crude above $108 a barrel. Today, American drivers seeing no relief at the pump. AAA says the national average for a gallon of regular today is back up to $4.53.

It's highest since the war began nearly three months ago. Hollywood is it can, as the movie business has had a bit of a resurgence this year, but the Hollywood reporter is saying more deals for the industry didn't get done there than did. Jessica Eddinger, CNBC. I wake up every day with two missions. How do I make my bosses more money? How do I get some of it? And I'm not apologizing for that to anybody.

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