Television stations broadcast Jerome Powell, chairman of the US Federal Reserve, speaking after a Federal Open Market Committee (FOMC) meeting on the floor of the New York Stock Exchange in New York, US, on Wednesday, Oct. 29, 2025. Michael Nagle | Bloomberg | Getty Images
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. Setting expectations
2. Oracle's omen
The Oracle logo is displayed on a building at an Oracle campus on Sept. 10, 2025 in Redwood Shores, California. Justin Sullivan | Getty Images
After Powell finishes his conference, investors won't have long to wait before another potential market catalyst. Oracle is reporting its second quarter earnings after the bell — and the pressure is on. As CNBC's Seema Mody notes, the technology company needs to show it can continue to finance its bold infrastructure plans. Oracle has emerged as a leader within artificial intelligence in recent months, so the company also needs to prove its AI-driven growth story is sound. Oracle shares are little changed in premarket trading this morning. The stock is up more than 30% this year, even after seeing its biggest one-month drop in more than two decades in October.
3. Pharma's shopping cart
Eli Lilly's new planned manufacturing facility in Huntsville, Alabama. Courtesy: Eli Lilly
Big pharma is cutting big checks as it bets on obesity pills. Eli Lilly said yesterday it would spend $6 billion building a manufacturing plant in Huntsville, Alabama, to support the production of its experimental obesity pill, along with other drugs. As CNBC's Annika Kim Constantino notes, it's the third facility the company has announced as part of its plan to increase domestic manufacturing. Pfizer , meanwhile, announced a $2.1 billion licensing deal with Chinese-owned YaoPharma to develop and commercialize its obesity pill. The agreement marks Pfizer's latest push into the blockbuster weight-loss market following its acquisition of Metsera last month.
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