Market Close: Stocks Mixed, Tech Slips on OpenAI Revenue Report, Oil Pessimism • 10/8/26

0:00See NBC business news update. I'm Jessica Ettinger. Wall Street opens Friday morning after a mixed Thursday for the major averages on Wall Street oil spiked. Bond yields were higher, but the Dow finished in the green up 52 points. Home Depot shares leading it higher. They were up 3 percent. The S &P 500 index was down 36 points. That was about a half a percent. The Nasdaq down 345 points, one and a quarter percent. chipmaker shares in the red. Tech tumbled on concern about OpenAI's revenue. A report said it may be$20 billion less annually than previously signaled. OpenAI as a private company may be an accounting issue, but other companies connected to OpenAI, like NVIDIA, CoreWeave, Oracle, and more, saw shares dip on that report.

0:51Starbucks reportedly interested in buying Chipotle. Starbucks shares ticked lower on the FT report. Chipotle shares ticked higher. Starbucks CEO Brian Nickel used to be the CEO of Chipotle. It's something he's credited with turning around. Oil prices spiked 3 % on Thursday. As of Thursday afternoon, the storm Isaias in the Gulf on pace to be the first hurricane of the season to make U.S. landfall. And here's AccuWeather's Bernie Raynaud on CNBC. From an oil standpoint, when you look at the track of ECE as an eyeball, it looks to me like it's going to impact about 15 to 20 percent of those oil rigs.

1:31Oil up also on new Middle East strikes and the market starting to think President Trump will not end the war. Here's Repetence Bob McNally on CNBC. This very optimistic view that with a pure taco move, this crisis is going to end and we're back to the glutted market we all saw in mid-February. This is starting to ebb. People aren't believing it anymore. And I think the reality is sinking in. And another oil take from Cornerstone Analytics' Michael Rothman on CNBC. We're in the eighth month of this war. Most people believed, and they were adamant in discussions about it going back seven and a half months ago, that there was no way the conflict could last more than two weeks, like at the most.

2:13And here we are looking at two and a half billion barrels of forfeited oil supply, and the number essentially keeps expanding every day. Meantime, little relief is expected at the pump for U.S. drivers ahead of Election Day, according to speculators on prediction market Calci. They've placed more than 80 % odds that gas prices will be above$4 a gallon on November 3rd. AAA said the national average for a gallon of gas on Thursday was$4.36. CNBC has a business relationship with Calci. Microsoft and Adobe have been suspended from the U.S. Green Card Labor Program in a government foreign worker crackdown.

2:53Vice President J.D. Vance criticizing Microsoft specifically pointing to 6 ,000 job cuts last year. And then he said they replaced those workers with people on H-1B visas. Consumers keep spending, but they are stressed now. Here's CNBC senior economics reporter Steve Leisman with the new CNBC National Retail Federation Retail Monitor numbers. CNBC NRF Retail Monitor, which uses exclusive real credit card spending data from Affinity Solutions for September. And they show the consumer remaining in there, but showing some stress from high interest rates and oil prices. Overall sales, they include retail and restaurants, ex-auto and gas, grew 0.28 % on the month.

3:35About a tenth below our long-run average, but a bit higher than last month. Not bad, but not great either. Overall, the consumer soldiers on. On Friday's watch list, we get earnings from Delta Airlines. We get the latest on consumer sentiment. new in theaters, Universal's horror film, Other Mommy, and Sony's The Social Reckoning. Jessica Edinger, CNBC.

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