Market Open: Stocks Gain, Hurricane Oil Worries, iPhone 18 Pro Demand Softens • 10/9/26

CNBC business news update. I'm Jessica Edinger. Wall Street with some gains out of the gate on this Friday morning. Bond yields have eased a little bit. The yield on the 10-year note holding around 5 and a4% this morning. The Dow is up 60 points. Amazon shares leading it higher. They're up almost 2%. The S&P 500 index up 29 points. The Nasdaq gaining 177 points. Chipmaker names are mixed. Nvidia is in the green by about 8/10en of a percent. >> Most important thing for the markets, revenue growth and earnings growth. And so far, uh, you know, the last four quarters have been remarkably good, even getting better. So, let's see how that goes. Diversification key here. >> Oppenheimer's John Stozfus on CNBC. Oil is holding. US crude oil above $90 a barrel. The global benchmark Brent above $102 a barrel on fresh strikes in the Middle East with a Saudiled coalition now vowing a firm response to new attacks by Iranbacked Houthis. Delta Airlines shares down 4% in early trading. The airline cut its fullear 2026 forecast as jet fuel costs soar. The CEO says demand from flyers for plane tickets though is really strong even with higher prices. Apple shares falling on a Nikke Asia report saying the company was cutting component orders for its iPhone 18 Pro following weaker than expected demand. Apple the biggest drag on the Dow this morning down 2%. Hurricane Isaes in the Gulf is now a category 3 major storm. Power for oil and gas facilities on the Mississippi and Alabama coastlines could be impacted. Here's more from ACUE weather's Bernie Reo on CNBC. >> You can see all the oil rigs here. It's going to clip the eastern ones to me at an eyeball here. 15 20% having direct impact. When you look at the refineries as well, I don't think we're going to see much impact from Isaas with those. So that's certainly good news. Mining company Freeport Macaran its shares higher as gold prices were on pace for their first positive week in three. Major League Baseball proposing a shorter regular season, cutting eight games, bringing the season down to 154. It's also pushing for a salary cap. Major League Baseball Players Association responding, saying in a statement, "Players will weigh in on these proposals and we will respond at the bargaining table." Investors are watching Chipotle and Starbucks shares again today. Here's CNBC's Andrew Ross Sorcin with Joe Kernan. >> Shares of Chipotle heating up after the Financial Times reported that Starbucks has explored an acquisition of that burrito chain. Of course, Starbucks's CEO Brian Nickel led Chipotle before moving uh to the coffee giant. A Starbucks spokesperson though telling CNBC it doesn't comment on rumors or speculation. I think it's if you believe that Brian is a great operator and he was a great operator at Chipotle >> and I think he's fixed Starbucks. >> We know where he cut his teeth. >> But by the way, he left Taco Bell. >> Yeah, but he left Chipotle and then by the way, the management of it wasn't so great. >> Meanwhile, Starbucks teasing today its holiday menu, which will be out in four weeks. New drinks include a tiramisu velvet latte. Returning drinks include the peppermint mocha, sugar cookie latte, and gingerbread chai. Jessica Edinger, 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.