CNBC Business News Update - Market Open: Stocks Lower, OIl Higher, but US Crude Is On Pace For Its Second Slightly Lower Week In A Row, Netflix Raises Prices 3/27/26

Episode Date: March 27, 2026

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I'm Jessica Eddinger, CNBC. Wall Street's in the red. Major averages extending their losses from yesterday. It is one month since the U.S. first struck Iran. crude oil and bond yields are higher. The Dow down 370 points out of the gate this morning. It's being led lower by shares of Goldman Sachs, which are down 2%. The S&P 500 index down 50 points. The NASDAQ down 219 points. Checking shares of NVIDIA. down 1 and a quarter percent out of the gate. And look at gold this morning. Gold prices have collapsed. They are off pretty significantly. I think if you look for the year to date, still up by 44 percent. But this week down sharply. Last week, down even more. I think over

the month to date, we're down by about 16 percent. 4,4008. 50 cents an ounce. CNBC's Becky Quick. Oil prices higher. But U.S. crude is actually pacing for its second slightly low. week in a row. It's sitting at about $98 a barrel. AAA says the national average this morning is just a hair below $3.98 a gallon. 12 states in D.C. are sitting at $4 gas. Brent oil topped $110 a barrel. Again, after Chinese ships were turned away from the Strait of Hormuz in the Middle East, Iran not letting them pass without a threat of attack. J.P. Morgan's Oksana Aronoff talked with CNBC's Joe Kernan about the ripple effects. Long term, I guess the flow-through effects. We haven't seen them fully yet.

Fertilizer and pass-through that you get when everybody's paying more for a barrel of oil. Plastic. Everything. Absolutely. Petrochemicals, yeah, another huge industry, trillion-dollar global industry that is affected by the price of oil tremendously and is in everything that we consume. And we haven't really seen this fully unfold yet and the effects are yet to be felt. On Wall Street, investors have abruptly changed from thinking that rate cuts were coming from the Fed to a possible interest rate increase as inflation fears mount. Netflix raising prices again as Americans are weary of inflation. It's the second increase in 14 months.

Netflix raising prices on all of its plans in the U.S. across the board with ad-supported tier moving to $899 a month from $7.99 a month. Standard plans are going to be up $2 to $1999. A month. CNBC's Morgan Brennan, a possible major merger in the alcoholic beverage space. Chairs of Pernault, Ricard, and Brown Foreman are higher. You may not know those names, but you know the brands of spirits and whiskey they make. Brown Forman confirmed that merger discussions between the two companies are taking place. Now, it would be a major consolidation in beverage alcohol.

Pernaud Ricard is the owner of brands like Jamison Irish Whiskey, also absolute vodka, while Brown Foreman is behind Jack Daniels, Tennessee Whiskey, and also Woodford Resort. So keep an eye on the bourbon and spirit space with this big deal in talks. CNBC's Dominic Chu. Social media platform X, the former Twitter, cutting jobs after its merger with the XAI company. Infinities hoping its new mid-sized luxury SUV attracts buyers. It's got a starting price of around $53,000, according to Cox Automotive. That's lower than rival SUVs, which started about 77,000.

Day two of the NCAA March Madness Suite 16 round and new in theaters. Tonight, Warner Brothers horror film, They Will Kill You. Jessica Eddinger, CNBC. April 15th, financial experts, investors, and policymakers gather in D.C for conversations on America's economy. CNBC's Invest in America Forum. Request an invite at CNBC Events.com slash invest.