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Closing Bell

Closing Bell Overtime: Looking Ahead to Nvidia Earnings; Musk Loses to Altman 5/18/26

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 18 May 2026

⏱️ 44 minutes

🧾️ Download transcript

Summary

Our Kate Rooney reports on Elon Musk losing his case against Sam Altman and OpenAI. John Belton of Gabelli Funds previews Nvidia’s upcoming earnings report and where he is placing his bets. Bank of America reinstates bullish ratings on ServiceNow and Salesforce; the analyst behind the call, Tal Liani, breaks down the competition and where investors should focus. Alan McKnight of Regions and Kevin Gordon of Charles Schwab debate the market outlook and where investors should position from here. Plus, our Angelica Peebles reports on a sharp decline in Regeneron and what it means for biotech investors.

Transcript

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0:00.0

The bell's bringing end to the trading day at the NYSC, Oppenheimer, ringing the bell, and at the NASAC, LizarD asset management doing the honors. Welcome to closing bell overtime. We're live from studio at the NASDAQ market site. I'm Melissa Lee, along with Mike Santoli. Sox bouncing off the lows, the Dow up more than 150 points, the S&P 500 with a small loss, the NASAC down about a half a percent.

0:21.9

As you mentioned, we did see a move off those lows right around 3 p.m., coinciding with a

0:26.3

social media post from President Trump about Iran. We'll get more on that. Meanwhile, bond yields

0:31.8

coming off their highs, the 10-year had hit its highest level in a year earlier in the day.

0:37.0

Our reporters are all over those comments from President Trump, the impact on stocks and oil, and also a major legal setback for Elon Musk. Mike, it felt like it was all about rates. Rates didn't do that much. And so we were able to sort of muddle along. Yeah, the setup was rates at highs, oil at highs coming into the week, and semiconductors with a wobble on Friday,

0:56.2

was that going to continue? It did continue. Micron down, 5, 6 percent, traded $40 billion

1:01.8

worth of its own stock. That's twice as much as Nvidia. It's four times as much as Microsoft

1:05.6

today. So it shows you there's just this intensity of concentration in this group.

1:09.5

The rest of the market was able to hold in. I think that's been one of the big questions. Not sure if anyone, any traders,

1:16.3

specifically in an articulate way, know what to make of the implications of this Iran news. We'll

1:21.9

talk about that in a minute. But it did seem to allow for the overall market to sort of entertain

1:27.0

the possibility of some kind of resolution. Where we saw the most decisive reaction to it was in the oil markets. And with oil backing off of the highs of the session, we did see the ability of other parts in the market to sort of levitate higher towards the close. I mean, you take a look at an intraday chart on Walmart, for instance, that one really lifted and finish at the highs of the day. So that just gives you an example of the concern over, you know, high oil prices, the impact on the consumer and the economy. Exactly. Let's get to Megan Kassal at the White House for more on President Trump's announcement that he is postponing a new attack on Iran. Megan. Guys, the president says now that he's scrapping a planned military attack on Iran that had been

2:01.9

set for tomorrow and that he's doing so at the request of the leaders of Qatar, Saudi Arabia,

2:06.5

and the UAE.

2:07.5

So President Trump's saying on true social that those three leaders feel that serious negotiations

2:11.6

are now taking place and that an acceptable deal will be made.

2:15.2

Trump went on to say he had instructed Secretary Hegset and top military

2:18.4

officials that we will not be doing the scheduled attack of Iran tomorrow, but that he has further

2:22.9

instructed them to be prepared to go forward with a full, large-scale assault of Iran on a moment's

2:27.8

notice in the event that an acceptable deal is not reached. So guys, the threat remains alive,

2:33.2

but still a dose of optimism there that talks

2:35.4

are moving forward. As of this morning, we knew the U.S. and Iran had been exchanging views

...

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