Market Midday: Stocks Mixed, Warsh Sharpens Inflation Warning • 8/28/26

Watch on YouTube ↗  |  August 28, 2026 at 16:38  |  3:43  |  CNBC
Speakers
Jim Cramer — Host, Mad Money
David Faber — Anchor, Squawk on the Street / Media Analyst
Jessica Edinger — Anchor
Kevin Warsh — Federal Reserve Chairman

Summary

CNBC Business News update covers a mixed market after Fed Chair Kevin Warsh's Jackson Hole speech emphasized price stability with inflation above target, leading traders to raise September rate hike odds. Jim Cramer and David Faber discuss energy markets, highlighting high diesel crack spreads from Russian diesel withholding and oil support from war and tariffs. The update also notes shopping mall parking fees and upcoming movie releases.

  • Dow gains led by Salesforce, Amazon and Apple; S&P flat and Nasdaq lower as chips/Nvidia lag.
  • Fed Chair Kevin Warsh says inflation is above 2% and price stability is the Fed's predominant focus.
  • Traders raise September rate hike probability to 55.7% after the speech.
  • Jim Cramer says diesel crack spread looks highest ever because Russia is withholding diesel.
  • David Faber notes oil and tariffs are inflationary and oil is still up about 22% after the US-Iran war.
  • High diesel costs may trickle down through trucking, agriculture, trains and ships.
  • Shopping malls are charging for premium parking spots, per USA Today.
Ideas
Jim Cramer Host, Mad Money 2:41
Russian diesel withholding lifts oil, diesel.
Jim Cramer highlights oil and gas, particularly diesel fuel, saying the diesel crack spread looks the highest it has ever been because Russia is withholding diesel exports, which makes oil the big sticking point.
UCO WTI MED
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This CNBC video, published August 28, 2026, features Jim Cramer discussing UCO, WTI. 1 trade idea extracted by AI with direction and confidence scoring.

Speakers: Jim Cramer  · Tickers: UCO, WTI