4PM ET 05/23/2026 Newscast

Summary

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Fox News Hourly Update – 4PM ET 05/23/2026

Host: FOX News Podcasts
Date: May 23, 2026

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Episode Overview

This newscast delivers the top headlines of the hour, with updates on U.S.–Iran peace negotiations, the passing of NASCAR icon Kyle Busch, economic pressures from sustained high gas prices, anticipation for the Indy 500, and a historic media moment as CBS News Radio ends its century-long broadcast.

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Key News Updates & Discussion Points

1. Progress in U.S.–Iran Peace Talks

[00:02–00:59]

• President Trump’s Diplomatic Push:

  • President Trump is holding a call with regional officials to discuss a possible peace deal with Iran.
  • A decision could be reached by the end of the weekend.
  • New timelines and contingencies are under review, with the President rating the chances at “50/50.”

• Details on the Negotiating Team:

  • Trump is meeting with his team, including Steve Witkoff, Jared Kushner, and Vice President J.D. Vance.
  • The 1PM ET call involved leaders from Saudi Arabia, Qatar, UAE, Egypt, Turkey, and Pakistan.
  • Iran is reportedly finalizing a “14 clause deal” that would formally announce the end of current hostilities.

Quote:
“President Trump saying that it’s 50, 50 as to whether or not he could make a deal. But the negotiations are at least getting closer.” ([00:15], Speaker C)

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2. Remembering NASCAR Driver Kyle Busch

[00:59–01:50]

• Tragic News:

  • NASCAR legend Kyle Busch died at age 41 after severe pneumonia progressed to sepsis.
  • An outpouring of grief and tributes from fans and competitors.

• Legacy & Impact:

  • Fans brought flowers and especially peanut M&M’s in honor of Busch’s iconic yellow M&M’s car.
  • Busch was a two-time NASCAR champion and this year set the fastest qualifying lap at the Daytona 500.
  • NASCAR CEO Steve O’Donnell remarked on Busch’s deep connection with fans, cementing his permanent legacy.

Quote:
“As we wait for answers, the focus shifts to Busch’s incredible legacy, a two time champion who set the fastest qualifying lap at this year’s Daytona 500.” ([01:13], Chancellor Wynn)

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3. Ongoing Gas Price Surge Linked to Middle East Conflict

[02:32–03:09]

• National Picture:

  • Gas prices are over $6/gallon in some states, and above $4/gallon in Indiana, which recently suspended its gas sales tax.
  • Forecasts suggest prices will stay high as long as the Strait of Hormuz remains closed—a choke point for about one-third of the world’s oil supply, closed since late February.

• Leadership Response:

  • Indiana Governor Mike Braun stresses the need for government cooperation to lighten burdens on Americans during the crisis.

Quote:
“We don’t know how long it’s going to take. In the meantime, all of us as governors and even in D.C. where I used to work, get with it out there, lighten the load.”
([02:54], Indiana Gov. Mike Braun)

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4. Indy 500 Anticipation Reaches Fever Pitch

[03:14–03:52]

• Race Details & Cultural Significance:
  • The “race of the year” returns with 33 cars and speeds up to 240 mph.
  • 350,000 people expected, cementing it as the world’s largest single-day sporting event.
  • Annual tradition draws international fans.

Quote:
“This isn’t just another race. It is the race of the year. … 350,000 people will pack into the Indianapolis Speedway … the largest single day sporting event in the world.”
([03:21], Garrett Tenney)

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5. CBS News Radio Signs Off After Nearly a Century

[03:55–04:22]

• End of an Era:
  • CBS News Radio ended nearly 100 years of broadcasting, a network pivotal in pioneering modern journalism and news delivery.
  • The final sign-off echoed journalist Edward R. Murrow: “good night and good luck.”

Quote:
“An American institution went silent last night. CBS News Radio signed off for the air for the final time, ending nearly 100 years of broadcast history.”
([03:55], Speaker B)
Quote:
“Anchor Christopher Cruz delivered that final sign off, concluding a century of broadcasting with Edward R. Murrow’s iconic phrase, good night and good luck.”
([04:14], Speaker B)

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Notable Quotes & Moments

• President Trump on Iran Deal:

  • “It’s 50, 50 as to whether or not he could make a deal.” ([00:15])

• On Kyle Busch’s Legacy:

  • “His connection with the fans … make Busch a permanent legend.” ([01:13])
  • “NASCAR says they plan to honor Kyle Busch throughout the races this weekend.” ([01:50])

• Governor Braun’s Call to Action:

  • “Get with it out there, lighten the load.” ([02:54])

• Historic Farewell to CBS News Radio:

  • “Good night and good luck.” ([04:14])

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Timestamps of Important Segments

• U.S.–Iran Talks: 00:02–00:59
• Kyle Busch Tribute: 00:59–01:50
• Gas Prices & Oil Crisis: 02:32–03:09
• Indy 500 Preview: 03:14–03:52
• CBS News Radio Signs Off: 03:55–04:22

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This summary covers the main stories and voices featured in the 4PM Fox News newscast for May 23, 2026, providing listeners with the latest on world affairs, sports, economy, and media milestones.

Transcript

[A]

New signs of progress in peace talks. I'm Angelo Bavaro, Fox News. President Trump is holding a call with regional officials to discuss a potential deal with Iran. Reports say a decision may be made

[B]

by the end of the weekend.

[C]

A new timeline on the table with President Trump saying that he's going to meet with his negotiators to go over that deal from Iran and also determine whether or not hostilities could continue and strikes could resume in Iran. So the president saying that it's 50, 50 as to whether or not he could make a deal. But the negotiations are at least getting closer. And he told Axios earlier today he planned to meet with his team, which was expected to include Steve Witkoff, Jared Kushner and Vice President J.D. vance. Fox is told that a call at 1pm Eastern today includes the leaders from Saudi Arabia, Qatar, the United Arab Emirates, Egypt, Turkey and Pakistan.

[A]

And Iranian officials say they are finalizing

[B]

their 14 clause deal which would reportedly announce that conflict.

[A]

The death of NASCAR driver Kyle Busch

[B]

Thursday at 41 has led to an outpouring of support from fans and fellow racers.

[A]

Fox TV affiliate WOFL reporter Chancellor Wynn

[B]

has more from the Daytona International Speedway

[D]

flowers and even Eminem's the Peanut one specifically because Kyle Busch drove that yellow Eminem car for more than a decade. All this looking right up at the NASCAR legend. His sudden passing has many people asking how and why. As we wait for answers, the focus shifts to Bush's incredible legacy, a two time champion who set the fastest qualifying lap at this year's Daytona 500. NASCAR CEO Steve O' Donnell says it's those wins and his connection with the fans that make Busch a permanent legend. NASCAR says they plan to honor Kyle Busch throughout the races this weekend.

[A]

Bush died after severe pneumonia progressed into sepsis. America is listening to Fox News

[E]

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[F]

Visit ahs.com listen see ahs.com contracts for coverage details including limit amounts, fees, limitations and exclusions.

[A]

Gas prices are still high across the

[B]

country, standing at over $6 a gallon in some states. But the price remains at over just $4 in Indiana following the state sales

[A]

tax on gas being suspended.

[B]

Indiana Governor Mike Braun telling Fox News

[A]

Live that while the conflict in Iran

[B]

continues, the government needs to work together to support American citizens.

[G]

We don't know how long it's going to take. In the meantime, all of us as governors and even in D.C. where I used to work, get with it out there, lighten the load.

[A]

Those price surges are predicted to continue

[B]

as long as the Strait of Formuz is closed.

[A]

About one third of the world's oil

[B]

travels through that strait, which has now been cut off since late February.

[A]

Preparations for the Indy 500 race are

[B]

underway and fans are gearing up for that big day.

[H]

This isn't just another race. It is the race of the year. 500 miles, 33 cars going speeds of 240 miles per hour. And here in a bit, I'm gonna get a chance to get a taste of what that's like. But one thing that is going to be different is the crowds to tomorrow, 350,000 people will pack into the Indianapolis Speedway in for what is the largest single day sporting event in the world. And people come from around the world to experience it. And for a lot of folks, it's an annual tradition that never gets old.

[A]

That is Fox's Garrett Tenney at the Brickyard.

[B]

An American institution went silent last night. CBS News Radio signed off for the air for the final time and ending nearly 100 years of broadcast history. The network pioneered modern journalism and brought the world into living rooms during World War II.

[A]

Anchor Christopher Cruz delivered that final sign

[B]

off, concluding a century of broadcasting with Edward R. Murrow's iconic phrase, good night and good luck.

[A]

I'm Angelo Bavaro and this is Fox News.