This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Friday. This week isn't even over yet, but I'm already gearing up for next week's big events: the World Economic Forum in Davos, a major Supreme Court case and Netflix earnings. S&P 500 futures are higher this morning after yesterday's winning session. Here are five key things investors need to know to start the trading day:
1. Chipping in
TSMC headquarters in Hsinchu, Taiwan. Bloomberg | Bloomberg | Getty Images
2. Retail row
A sign on the facade of the entrance to the Saks Fifth Avenue flagship store, after the store filed for bankruptcy protection, in New York City, U.S., January 14, 2026. Brendan Mcdermid | Reuters
If you're disappointed to hear that Neiman Marcus and Bergdorf Goodman's parent company filed for bankruptcy, you're not alone. Amazon would also like to have a word with Saks Global. The e-commerce site asked a federal judge yesterday to block Saks' bankruptcy financing plan, accusing the retailer of failing to hold up its agreement. Amazon invested $475 million into Saks' 2024 acquisition of Neiman Marcus, but "that equity investment is now presumptively worthless," Amazon lawyers wrote in the filing. The company told the judge that it and other creditors would be hurt by Saks' bankruptcy financing plan because it would have the department store operator take on more debt. As CNBC's Gabrielle Fonrouge and Annie Palmer report, Amazon threatened to "seek more drastic remedies" if Saks doesn't resolve its concerns.
3. 'The Great Healthcare Plan'
U.S. President Donald Trump speaks as he honors the NHL Stanley Cup champions Florida Panthers at the White House in Washington, D.C., U.S., Jan. 15, 2026. R Kylie Cooper | Reuters
President Donald Trump yesterday unveiled an outline of his health-care plan, which his administration said would reduce drug prices and insurance premiums. The plan — dubbed the "The Great Healthcare Plan" by the White House — would codify Trump's "most-favored-nation" policy, which ties the cost of prescription drugs in the U.S. to lower prices abroad. A fact sheet said the plan would also send money for health insurance "directly" to Americans, though some health policy experts say that's a bad idea. The announcement came as senators struggled to reach an agreement on the extension of Affordable Care Act subsidies. The new plan does not include extending the Obamacare tax credits, which Democrats demand be part of a health-care deal.
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