CNBC Business News Update - Markets Midday: Inflation Worries, Higher Yields Sink Stocks, Major Franchisee May Take A Huge Slice Of Papa John's, Pershing Square Sets Sights On Microsoft 5/15/2026

Episode Date: May 15, 2026

The latest in business, financial, and market news and how it impacts your money, reported by CNBC's Peter Schacknow 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 Peter Shack now, CNBC. The recent Wall Street rally has come to a sudden stop, at least for today, as the conflict with Iran drags on, crude prices are rising, treasury yields have hit a one-year high, and worries about inflation are weighing on investor sentiment. The Dow Jones Industrial average falling 526 points to 49,537, the S&P 5001.1% lower or 85 points, the NASDAQ, tumbling 394 points, or 1.5%. The loss of 3.301%. The loss of 3. for the S&P and NASDAQ are the largest since March 27th, but they are clinging to small weekly gains. Megan Shue, chief investment strategist at Wilmington Trust, thinks this may only be a temporary setback for the stock market. I think what's notable in my many conversations with our clients is that this rally in the market is very much unloved, and there's a lot of angst around it.

I think that's actually a good thing. In the short term, we are probably due for a pullback or a pause, in the momentum, but long term, the economic and market fundamentals are fairly good, and over a 12-month horizon, I think the market will move higher. Shares of Papa Johns are up 4% today. Reuters reports that the pizza chain's largest franchisee is working with investment firm Earth Capital to take the company private. Another stock bucking the market trend is Microsoft up about 3%.

That comes after Pershing Square's Bill Ackman said his firm will soon disclose a new position in Microsoft, saying the stock trade. at a highly compelling valuation. Peter Shack now, CNBC.