CNBC Business News Update - Market Open: Stocks Sharply Higher, Nasdaq Shooting For a Record, Oil Prices Falling

Episode Date: April 17, 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 and reported 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 trading sharply higher this morning after Iran declared the Strait of Hormuz completely open. That on the heels of a ceasefire announced between Israel and Lebanon. The Dow up 505 points more than a percent. The S&P 500 up 44 and the NASDAQ up 213. That's nearly a percent. If the NASDAQ closes in positive territory today, that would make 13 sessions in a row. And the first time the NASDAQ has done that since 1992.

Oil price is also pulling back on those remarks. investors hoping supply disruptions will ease. The Senate Banking Committee hearing for Fed Chair nominee Kevin Warsh is set for Tuesday. Jay Powell's term ends in less than a month. Former Kansas City Fed President Tom Honeg tell CNBC he does not think this is the time to lower interest rates. We're starting, it appears to me, to be in an inflationary boom. We have very favorable tax environment right now with the tax breaks were introduced in January of this year. We have a very strong space. We have a very strong space. in the government. We have a war going on that's going to add to demand. Shares of Netflix dropped 10% after the streaming giant released its second quarter numbers. Investors seemingly

disappointed that the company didn't raise guidance for the year. Netflix also announced Chairman Reid Hastings will leave the board when his term is up in June. Alcoa sliding 2% after the aluminum producer posted in earnings and revenue miss for the most recent quarter. By now, pay later payment company a firm rose more than 3% after Morgan Stanley named the stock a top pick. Returning packages can be a pain. Uber says it can fix that. Uber Eats announcing a returns feature today that will allow customers to do it all from their phones. For a fee, Uber Eats will pick up your packages and return them for you. Jill Schneider, CNBC. CNBC Live ambitiously.