CNBC Business News Update - Market Open: Stocks Mixed, Oil Ticks Lower On Reported Iranian Cease Fire Proposal, Intel Shares Higher Again 4/27/26

Episode Date: April 27, 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 with a slight pullback at the open for the major averages this morning to start the new week. After the S&P 500 index and the NASDAQ each open this morning at fresh record highs, last Friday they were boosted by Intel shares, which soared 24% for their best day since 1987 as investors eye a turnaround Intel is up another 2% this morning. Let's get the major averages. The Dow is up 63 points. The S&P 500 index down to the NASDAQ down 65 points this morning. Since the lows in March, the SMP 500 is up 12%. And the NASDAQ's up 17% and the Dow's up 9.

I think a lot of that has to do with the fact that earnings are really much better than expected. The economy is hanging in there. The one common theme is that it's the whole food chain of the AI. AI, data center, grid, power. We have been talking about this for three years. years, and we're now starting to see it in results in terms of earnings. That's High Towers, Stephanie Link on CNBC. Oil ticking slightly lower on an Axios report that Iran has put forward a new proposal to begin a ceasefire and more. Axios reporting today, Iran has now put forward

a new proposal through Pakistani mediators. It involves reopening the Strait of Hormuz, formalizing a ceasefire, but then deferring nuclear negotiations to a later phase. Now, it's unclear whether this offer to kick the nuclear can down the road is real or whether the White House would ever accept it. For now, Washington seems to be betting that the block in Hormuz and the stranglehold on Iranian oil exports will bring Iran to its knees and possibly the negotiation table. CNBC's Dan Murphy in Abu Dhabi. U.S. crude oil today around $96 a barrel. Prices at the pump rose over the weekend, AAA saying the national average for a gallon of regular. Back up. to $4.10.

Republican Senator Tom Tillis told NBC's Meet the Press yesterday. He does plan to support Kevin Warsh's nomination to be the next Federal Reserve Chief. Now that the Department of Justice dropped a criminal investigation into current Chair Jerome Powell, which Tillis called a bogus probe. We were very clear that we have the assurances from the DOJ that I need it to feel like they were not using the DOJ as a weapon to threaten the independence of the Fed. So this will allow Mr. Warsh to move on with his confirmation. This means the confirmation of President Donald Trump's pick to lead the Fed, Warsh, is all but assured. A Senate Banking Committee vote now set for Wednesday. Here's a take on the whole thing from Wharton, Professor

Jeremy Siegel on CNBC. I don't think the drama surrounding Jay Powell is over. I understand that Tillis will let Warsh go. But I haven't read anything. that says that Powell accepts what Trump has done stopping the investigation from the Justice Department, whether that's sufficient for him to leave his position. And that's very important. We all know that he won't be chairman, and that's okay. But we know he has two more years that he could serve if he wants. And at that last meeting, he seemed to make it clear, unless I am completely exonerated,

You know, I will stay on as board member. The busiest week of earning season is here. Five of the magnificent seven stocks will report quarterly results later this week. Jessica Eddinger, CNBC. You come to my show and you learn how to do stocks. Mad Money, Weeknight, Six Eastern, CNBC.