Market Open: Stocks Mixed, Starbucks Won’t Buy Chipotle, Tech CEO Warns on AI • 10/12/26

0:00See NBC Business News update. Market open. I'm Jessica Ettinger. Wall Street's mixed out of the gate this morning. The bond markets closed on this Columbus Day holiday. Earnings season unofficially starts tomorrow. We're going to get quarterly results from the big banks. But this morning, the Dow is up 149 points. Salesforce shares leading it higher. They're up almost 4%. The S &P 500 index is up 8 points. The NASDAQ down 4 points. The Chipmaker shares are mostly in the red this morning. Cerebris Systems down 4%, Micron down 3%. Starbucks is not buying Chipotle. CNBC Mad Money host Jim Cramer chatted with the Starbucks CEO Brian Nickel over the weekend.

0:44Nickel used to run Chipotle. And an FT report moved the stocks a little bit last week. Not happening. Here's CNBC's David Faber with Cramer. I can confirm that Starbucks is not going to buy Chipotle. They're not interested in do it they're going to stay laser focused uh brian says he's got great momentum at starbucks importantly plenty of room for growth uh and what's going to do is look forward to sharing fourth floor results including fiscal year 27 guidance later this month so let's just put that to bed move on they're in the middle of their turnaround it's going really well and the key question that i got by the way when i initially heard it was like really was why would you get in the way of something like that i mean i don't want to spend too much time working it's just two companies, but I do know that Brian Nichols say, look, our turn is real and the numbers are real and we don't want to derail anything.

1:34Oil is ticking higher today. The global benchmark Brent crude now above one hundred and six dollars a barrel as doubt grows over a possible supply boost from President Trump's energy ceasefire. Ukraine's President Volodymyr Zelensky says his country's ready to agree to an energy ceasefire, but warns Russia has to do the same. This is Kepler's Matt Smith on CNBC. Take the ceasefire with a grain of salt, right? It needs both of them to be involved. Otherwise, it is just a declaration by President Trump rather than an agreement. The thing to bear in mind that if we are to see more diesel flowing from Russia, an energy ceasefire needs to be in place because the Ukrainians have been relentlessly striking their refineries there.

2:15We believe their refinery runs are down about 25 percent last month versus where they were. The numbers that have been touted that Russia could be pushing out here are somewhat unrealistic. And here's a note from CNBC's Brian Sullivan. That price that we show on the screen is accurate for oil trading. Reality is this. A ship was just chartered from Houston to China for$76 million. That's$38 a barrel. So add that to 90. So I would say the actual price of a barrel of crude oil right now is probably about$125. 77 million for a 2 million barrel ship from Houston to China, 76 million for a similar ship to South Korea.

2:58The normal pre-war cost is 7 to 10 million. So we're 10x. There are global travel warnings today after Iran-backed Houthi militants attacked an airport in Saudi Arabia's capital, Riyadh, with an American killed in one attack. President Trump said over the weekend the U.S. may join Saudi Arabia in its retaliation against the Houthis. A big tech CEO with a fresh AI warning. Here's CNBC's Morgan Brennan. Microsoft CEO calling for a, quote, emergency break for AI in a post on X this weekend. Satya Nadella calling for advanced systems to be built with containment and independent controls that lets authorized people pause or shut a model down mid-task.

3:41Nadella's comments, the latest by a tech leader, about insufficient AI safety protocols and moving to change that. Jessica Edinger, CNBC.

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