Stocks on display at the Nasdaq on Sept. 10, 2025. Danielle DeVries | CNBC
This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Here are five key things investors need to know to start the trading day:
1. Bets are off
2. Foundation challenges
The Home Depot in Huntington Park Monday, June 9, 2025 in Los Angeles, CA. Luke Johnson | Los Angeles Times | Getty Images
Home Depot missed analysts' expectations for third-quarter earnings — again. It's the third straight quarter that the home improvement retailer has reported weaker-than-expected earnings results, though the company did beat revenue expectations for the quarter. Home Depot also cut its full-year profit outlook, leading shares to fall more than 2% in premarket trading. CFO Richard McPhail told CNBC that the company had expected an uptick in home improvement activity and demand for products like roofing materials and generators that typically see interest around storms. Instead, he said the business saw "ongoing consumer uncertainty" and "continued pressure in housing." Home Depot is the first in a series of retail earnings reports due this week. Lowe's and Target are scheduled for tomorrow, followed by Walmart and Gap on Thursday.
3. Job market jitters
White House National Economic Adviser Kevin Hassett gives a live television interview at the White House in Washington, D.C., U.S., August 6, 2025. Jonathan Ernst | Reuters
National Economic Council Director Kevin Hassett told CNBC yesterday that artificial intelligence could be increasing worker productivity so much that companies might cool hiring. That could lead to what he called some "quiet time in the labor market," Hassett said, as firms may not need to hire recent college graduates. Meanwhile, Federal Reserve Governor Christopher Waller said yesterday that he's focusing on the job market "after months of weakening." Waller said he was in favor of another rate cut at the central bank's next policy meeting in December.
4. Epstein fallout
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