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This is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.
Happy Tuesday. Snap CEO Evan Spiegel with sit down with CNBC’s Julia Boorstin at 2 p.m. ET today at the Augmented World Expo in California. Watch live on CNBC or CNBC+.
Stock futures are near the flatline this morning. The market is coming off another winning day.
Here are five key things investors need to know to start the trading day:
1. The real deal?
A television station broadcasts a news conference with US President Donald Trump on the floor of the New York Stock Exchange (NYSE) in New York, US, on Monday, April 6, 2026. Michael Nagle | Bloomberg | Getty Images
News that the U.S. and Iran signed a memorandum of understanding sent investors cheering yesterday, with all three major averages posting sizable gains. But some on Wall Street are urging caution about when — or if — the conflict would actually wind down.
Here’s what to know:
- In an interview with CNBC on Monday, Vice President JD Vance acknowledged that “a lot” of details still need to be sorted out. He said the U.S. holds “all the cards” and that the administration expects the Strait of Hormuz will be opened “toll free.”
- President Donald Trump — who is in Evian, France, for the G7 summit — said this morning that the U.S. will not invest money in Iran as part of the deal.
- The U.S. and Iran have both signed the agreement electronically, ahead of a formal signing ceremony on Friday, a senior administration official told CNBC yesterday.
- But some market watchers are skeptical and expect delays in the next negotiation period.
- Still, one trade data firm said the strait could see transit rise to nearly half of prewar levels within 30 days of an official deal. U.S. crude fell nearly 5% Monday to its lowest level since early March.
- Stocks surged in yesterday’s session: The Dow Jones Industrial Average set new intraday and closing records, and the Nasdaq Composite saw its best day since late March.
- Follow live market updates here.
2. Bank trust
Chairman of the Federal Reserve Kevin Warsh delivers remarks after being sworn in during a swearing-in ceremony in the East Room of the White House on May 22, 2026 in Washington, DC. Roberto Schmidt | Getty Images
It’s day one of the Federal Reserve’s first policy meeting with Kevin Warsh as its chair. As CNBC’s Matt Peterson reports, Trump will likely give Warsh more breathing room than he gave his predecessor, Jerome Powell.
One person familiar with the matter said Trump’s trust in Warsh will provide him with “some scope of action.” That could help Warsh announce that the Fed is keeping interest rates steady tomorrow — which markets overwhelmingly expect — without it seeming like a betrayal of Trump’s push for cuts. It could also give the Fed’s new chair room to implement sweeping changes.
Ahead of Wednesday’s rate decision announcement, respondents to CNBC’s Fed Survey see the Fed keeping rates unchanged through 2027, though most do think the Fed will remove the easing bias that has signaled its next move could be a cut.
3. To the moon
Silas Stein | Picture Alliance | Getty Images
SpaceX‘s ascent didn’t lose any steam yesterday, as shares climbed nearly 20% in its first full trading day. After underwriters exercised their “greenshoe” overallotment of shares, SpaceX said its total raise for the initial public offering came in at $85.7 billion.
Ron Baron told CNBC yesterday that Baron Capital purchased $1 billion worth of SpaceX during Friday’s IPO, bringing his total stake to around $25 billion. Meanwhile, some retail investors said they didn’t get as many shares as they hoped for.
The stock is still rising before the bell this morning, though shares pared their gains after SpaceX announced it would acquire Anysphere — the company behind artificial intelligence coding agent Cursor — for $60 billion.
4. Bonding opportunity
Samuel Boivin | Nurphoto | Getty Images
AI darling Nvidia said in a regulatory filing yesterday that it would issue investment-grade corporate bonds for the first time since 2021. Sources told CNBC that the chipmaker is aiming to raise at least $20 billion in debt.
Nvidia currently has around $7.5 billion in long-term debt and $1 billion in short-term debt. During its last debt raise five years ago, when the company was significantly smaller, Nvidia collected $5 billion.
The decision makes Nvidia the latest tech company to look to the capital markets. Alphabet announced plans for a raise earlier this month, while Super Micro shared equity-related financing goals last week.
5. Fox & friends
The Roku logo is displayed on a smartphone.Omar Marques | Lightrocket | Getty Images
Fox Corp. said Monday that it entered into a deal to purchase Roku for around $22 billion. The cash-and-stock deal is slated to close in the first half of next year. Shares of Fox closed yesterday’s session down 15% following the deal’s announcement, while shares of Roku lost nearly 2%.
In other acquisition news, Salesforce announced yesterday that it is buying Fin, the AI customer service provider formerly known as Intercom. The company said that the acquisition, which is expected to close in the fourth quarter of the 2027 fiscal year, should bolster its agentic AI platform.
The Daily Dividend
The U.S. Strategic Petroleum Reserve stood at around 340 million barrels as of June 12, according to the Department of Energy. That marks its lowest level since 1983.
— CNBC’s Kevin Breuninger, Spencer Kimball, Chloe Taylor, Sean Conlon, Matt Peterson, Steve Liesman, Arjun Kharpal, Kai Nicol-Schwarz, Yun Li, Kif Leswing, Seema Moody, Samantha Subin, Lillian Rizzo and Deena Zaidi, as well as Reuters, contributed to this report.
CJ Haddad assisted in the production of this newsletter. Josephine Rozzelle edited this edition.
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