This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Tuesday. I did my workout studio's Hyrox-themed class yesterday, which not only left me sore but also with a better understanding of what all the hype in the fitness business is about. S&P 500 futures ticked higher this morning. The stock market is coming off a winning day. Here are five key things investors need to know to start the trading day:
1. Take-off preparations
Elon Musk attends the 56th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 22, 2026. Denis Balibouse | Reuters
Billionaire entrepreneur Elon Musk is combining his rocket company SpaceX with his artificial intelligence startup xAI, he announced yesterday. The tie-up comes ahead of what's expected to be a huge IPO for the merged business. The tie-up is the largest merger in Musk's portfolio and marries two businesses whose values have soared on the private markets. Nevada public records obtained by CNBC showed that the deal was completed yesterday. In a blog post, Musk said he was forming "the most ambitious, vertically-integrated innovation engine on (and off) Earth." He said a primary driver for the merger was his quest to build "orbital data centers" — data centers in space. As CNBC's Lora Kolodny and Ari Levy note, SpaceX may represent Musk's clearest path to securing the capital xAI needs to make that dream a reality.
2. Turning the page
Nvidia logo and rising stock graph are seen in this illustration taken Aug. 27, 2025. Dado Ruvic | Reuters
3. Friends in high places
A Palantir sign at the World Economic Forum annual meeting in Davos, Switzerland, on May 22, 2022. Fabrice Coffrini | Afp | Getty Images
Palantir exceeded expectations on both lines for the fourth quarter yesterday, sending shares up more than 11% in overnight trading. In an interview with CNBC's Morgan Brennan, CEO Alex Karp called Palantir's report "indisputably the best results that I'm aware of in tech in the last decade." The Denver-based firm posted higher commercial and government revenues than Wall Street expected. Karp said strong demand, paired with Palantir's high engagement in the U.S., has led the defense technology company to delay selling new products to American allies. Karp also spoke about the ongoing protests against U.S. Immigration and Customs Enforcement, telling CNBC that he thinks protesters should support his company's business with the government. "If you are critical of ICE, you should be out there protesting for more Palantir," he said, adding that Palantir's product "requires people to conform with Fourth Amendment data protections."
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