CNBC Business News Update - Market Open: Stocks Mixed, New Tesla Roadster, Diesel Concerns • 10/16/26

Episode Date: October 16, 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.

CNBC Business News Update. I'm Jessica Eddinger. Wall Street is mixed at the open for the major averages. The Dow's coming off a 500-point gain from yesterday, as AI concerns sent some investors rotating into blue-chip names. This morning, the Dow is up 277 points out of the gate. That's up a half percent. It's JP Morgan shares that are leading the Dow higher. They're up more than 2 percent. Goldman Sachs up.

almost 2% this morning. The S&P 500 index is down two points. The NASDAQ, down 156 points with all the major chipmaker names in the red. Elon Musk's Tesla unveiled its long-delayed roadster vehicle showing off its flying car ambitions. Here's CNBC's Phil LeBoe. It is a halo car. Very few people will actually be able to buy this vehicle because of SpaceX technology, which includes thrusters that were built into the next generation, Roadster. They were able to do a couple of demonstrations where the vehicle takes off, goes over four or five vehicles, including a Tesla semi that were parked there like Evil Knievel, lands on the other side. Here's Elon Musk from last night. This is the culmination of incredible work by Tesla and SpaceX engineers working closely together. When will we actually see the roadster? In

terms of production, Elon Musk says 2028. They did not give a price last night, though many believe it'll probably start at at least $200,000. Tesla shares were higher this morning. You can see all the moves the roadster can make at CNBC.com and on the CNBC app on your phone. Meantime, the U.S. is limiting Ukraine's use of Elon Musk's Starlink Internet service on the battlefield. This is according to Ukraine's first deputy minister for recovery infrastructure and transport who spoke with CNBC. He's warning that the U.S. is helping Russia to strike bridge. energy systems, and that can make the coming winter especially difficult for the Ukrainian people.

The IEA releasing some diesel as the Trump administration pushes Europe ahead of the midterm elections, but high fuel prices still haven't been fully felt in rising inflation yet in the U.S. In the Consumer Price Index, here's Goldman Sachs Don Striven with CNBC's Joe Kernan. The International Energy Agency announced plans to release over 20 million barrels of or about five days of U.S. consumption. The IEA cautions that constraints on diesel could continue into next year. What does that mean for diesel at the pump?

In the U.S., the average retail price is down slightly. Diesel is the workforce fuel of the global economy, and in contrast to gasoline and jet. It has a very broad-based impact on many CPI categories, and the lags are longer. It takes more time for all these effects to show up in the United. show up in the economy. Netflix shares fell on a management shakeup, the streaming giant announcing the chief content

officers leaving being replaced by a former Disney executive, and Netflix also announced it's slashing about a thousand jobs. KFC is switching to Coca-Cola beverages from PepsiCo. After serving Pepsi since 1986, Pepsi used to own KFC before it spun the restaurants off into the company now called Yum Brands. Jessica Eddinger, CNBC. From gas prices to housing prices, from government spending to consumer spending, from the AI boom to the data center backlash. How will this election hit your pocketbook and your portfolio?

Continuing coverage, the economy election, CNBC.