Market Open: Stocks Higher, S&P 500 Index And Nasdaq With New Intraday All Time Highs, Oil Pulls Back On Iran Peace Proposal 5/1/26

I'm Jessica Edinger. CNBC Wall Street is higher out of the gate this morning on this

first trading day of May, a winning April in the books, both the S&P 500 index and the

NASDAQ. Each opened this morning at new all-time highs and they're building on them.

Let's start with the Dow. It's up 133 points being led higher by shares of sales force

up 4%. Apple shares up 3.5% this morning on quarterly results. The S&P 500 index is

up 39 points. The NASDAQ up 187 points shares of NVIDIA are in the green today up 1.25%.

With a third of the year behind us, here's a look at year-to-date performance for the

major averages. The Dow is up 3%, the S&P 500 index up 5%, the NASDAQ's up 7%. Apple

out with better than expected earnings and revenue for the quarter.

The company seems to strengthen across its product lines for the exception of the iPhone

with sales just misting estimates. That's CNBC's Morgan Brennan. And here's a take from

Tengler's Nancy Tengler on CNBC. I thought it was a great quarter all the way around. I'm

not sure why the stock isn't up more, but that's this earnings season, isn't it? Where

you can deliver beat, beat, and raise and still underperform.

U.S. crude oil pulled back to 102 dollars a barrel. CNBC's Carl Kingtonia now.

The oil prices volatile today report says that Iran has sent a new proposal to Pakistani

mediators on the quarterly earnings front. Bottom line beats for both Exxon and Chevron.

Exxon's net income declined 45% from a year ago, while Chevron's tumble 36 heard by oil

shipping disruption due to the war. Here's Exxon's Darren Woods talking this morning on

squawk.

Our expectation is over time. We'll see prices respond to that unprecedented disruption.

Once the straight opens up, it'll take one to two months for the flow to reestablish itself.

And then within that time, it's going to take, you know, transit time to get the barrels out

of the Persian Gulf and two, the customers are going to, it usually takes about a month

of transit time. So there will be a time where it takes for the market to recover.

Main time, prices at the pump are soaring again today. Triple A says the national average for

a gallon of regular rose another nine cents overnight, sitting at $4.39 a gallon. CNBC's

Becky Quicks spoke with the CEO of Pilot, a trick stop chain that's a subsidiary of Berkshire

Hathaway. Adam Wright says it's all about value for drivers right now with gas prices so high.

In fact, the national average for diesel is now more than $2 higher than this same time a year ago.

A dollar increase in diesel prices that could cut a trucker's gross take home pay in half.

And you go $2. Now you're kind of breaking even at best and then close the losing money.

So how do we make sure we can extend credit, get them feeling faster and be there for them in those

ways. And if we're consumers, we have an app that gets you 10 cents off a gallon of gas.

And so how do we focus on making sure we can provide value at the pump and then provide

compelling reasons to come inside the store. Mortgage rates are higher heading into another

spring home buying weekend. The average rate on a 30 year fixed home loan pushing six and a half

percent, again, according to mortgage news daily. And hyzer bush turning 150 years old this year

with marketing that's dovetailing the USA to 50 celebration marketing themes that play on the

brand's long American founding and history according to fast company. New in theaters for the weekend

Disney's The Devil Wears Prada 2. Jessica Ettinger CNBC. A new era in Omaha begins.

Newly minted CEO Greg Able takes the helm at the Berkshire Hathaway annual meeting. Becky

Quick and Mike Centoli with full coverage. Watch live Saturday starting 9.15 a.m. Eastern

only on CNBC.com. What made you confident that you could do something that hadn't been done before?

I have no fear of failure. Trailblazing women changing the game.

One of my favorite pieces of advice. Think about what your boss's boss needs.

Leadership can look in many, many different forms. It really does come down to just trusting

yourself. Life is short and you just got to think big to accomplish big things. Julia Boerston hosts

CNBC Changemakers and Powerplayers. New episodes every Tuesday, wherever you get your podcasts.