CNBC Business News Update - Market Open: Stocks Sharply Higher, Job Creation Climbs, AMD Soars

Episode Date: May 6, 2026

From Wall Street to Main Street, the latest on the markets and what it means for your money. Updated regularly on weekdays, featuring CNBC expert analysis and sound from top business newsmakers. Anchored by CNBC's Jill Schneider. 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 Jill Schneider, CNBC. Stocks opening sharply higher following a report that the U.S. and Iran are nearing an agreement to end the war. The Dow soaring 461 points, nearly a percent. The S&P 500 up 54 points, and the NASDAQ, jumping 218. That's also pushing oil prices lower. Private sector job creation was stronger than expected in April, providing more evidence of a stable labor market and less incentive for the Federal Reserve to lower interest. amid persistently higher inflation.

ADP reporting today, companies added 109,000 jobs for the month, a step up from the 61,000 created in March, and better than the Dow Jones Consensus estimate for 84,000. The March total was revised down by 1,000. ADP chief economist Neela Richardson says while the numbers on the surface are good, there's more than meets the eye. Because small firms are driving them, the types of jobs that we're seeing, are actually not full-time jobs. Small firm job growth comes with more part-time jobs, lower-paid jobs,

and people are working less in these new jobs that we're seeing come on board. So we're replacing jobs loss, but we're replacing them with lower-paid, fewer-hour jobs. Some early movers, advanced micro-devices soaring 20% after the company issued a rosy outlook for the second quarter. AMD also beat expectations on the top and bottom lines in the first. quarter. The report lifted the broader chipmaker sector. Disney jumped 5% on fiscal second quarter revenue that beat analyst expectations. Driving the beat was a strong performance from the company's streaming and theme park businesses. Jill Schneider, CNBC. Week nights. There are plenty of people who get too enthusiastic right about now. Every time

there's a rally, they think that anything they buy goes higher. They actually think they're geniuses. They lost all this, but they're too cocky. Mad money, weeknight six Eastern and streaming on CNBC Plus. Thank you.