Market Open: Stocks Mixed, Yields, Europe and China in Focus • 10/5/26

0:01CNBC Business News Update Market Open. I'm Jessica Ettinger. The major averages are mixed out of the gate. The Dow down this morning 146 points. Nike shares leading it lower. They're down almost 2%. The S &P 500 index up 14 points. The Nasdaq is up 130 points. That's about a half a percent. Nvidia coming off its first all-time high since last May from last Friday. Nvidia shares are building on that. They're up more than 1 % this morning. Investors are watching bond yields. The rate on the 10-year note, just under 5.3%. Investors are also watching Russia, where a plague is suspected to have killed a lab worker.

0:45Here's CNBC's Andrew Ross Sorkin. Nearly 200 people now have been hospitalized over a suspected exposure to plague. Local reports say 189 people are being monitored. This follows an illness of an employee at the Anti-Plague Research Institute, Russia's public health watchdog, saying one woman died after being diagnosed with pneumonia of unknown etiology. Secretary of State Marco Rubio is saying that the United States is closely monitoring that case, but he doesn't think it's cause for alarm. China shutting down hundreds of banks. CNBC's Becky Quick with that. China has closed almost a quarter of the country's banks in the last year and a half, and a bid to secure its financial system amid concerns of an economic slowdown.

1:26Fitch Ratings reports that most of those banks are smaller and in rural areas. Investors are also keeping an eye on Europe. In France, there are bond worries, and Spain is called snap elections. I think the bottom line is what we've thought about Europe for a long time, which is there's a reason it's cheap, and the reality is we're not getting the sort of consistency of policy efforts. And you see it right now in terms of with the fixed income markets, It's where you're seeing spreads widen in the French bonds versus, say, the German bonds and boons. And so our view on it is going to be we think we should hold off on really trying to put more money to work into Europe right now and wait till some of this settles.

2:02We don't think it's a contagion. We don't think we're about to come off the rails. But we just think there's going to be this economic malaise there for quite some time. Region's Wealth's Alan McKnight on CNBC. U.S. crude oil holding above$90 a barrel today. Drivers with a little relief at the pump. AAA says regular gas down 12 cents a gallon over the past week, now sitting at about$4.36 a gallon. Diesel is about 20 cents per gallon less from its all-time high. Here's CNBC's Dan Murphy in Abu Dhabi. More oil is finally hitting supply. The good news is that Saudi Arabia, the UAE and Kuwait are all moving more crude through Hormuz.

2:42The ship tracking firm Kepler saying Middle East exports actually rose above pre-war levels on four days last week. So that improving supply picture certainly outweighing this new escalation in Yemen. A billion dollar deal in the industrial software business. Here's CNBC's Morgan Brennan. France's Schneider Electric announcing that it's buying PTC for around$22.6 billion in an all cash deal. That breaks down to about$205 per share. That's a more than 42 % premium for the U.S. software company's closing price on Friday. Schneider says the deal is expected to close in the third quarter of next year.

3:21Walmart started its Deal Days sale today, trying to get ahead of tomorrow's Amazon Prime Day sale. Amazon MGM Studios' Verity won the weekend box office. Warner Brothers' Digger with Tom Cruise disappointed. Over the weekend, the re-release of Disney's Avengers Endgame surpassed Marvel Studios' Avatar to retake the spot as the top-grossing movie of all time. Jessica Edinger, CNBC. Building a portfolio with Fidelity Basket Portfolios is kind of like making a sandwich. It's as simple as picking your stocks and ETFs, sort of like your meats and other topics, and managing it as one big, juicy investment.

4:05Now that's pretty good. Learn more at fidelity.com slash baskets. Investing involves risk, including risk of loss. Fidelity Brokerage Services, LLC. Member NYSC SIPC.