GoKawiilThis is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Thursday. It's the one-year anniversary of President Donald Trump's initial tariff unveiling, what the president dubbed "liberation day." Stock futures are falling this morning. The three major indexes are coming off another winning day. Here are five key things investors need to know to start the trading day:
1. Trump's talk
U.S. President Donald Trump acknowledges those in attendance after speaking from the Cross Hall of the White House on April 1, 2026 in Washington, DC. Alex Brandon | Getty Images
Trump's prime-time address on the Iran war last night appears to have done little to appease Wall Street. Stock futures tumbled and oil prices surged after the president said the U.S. will strike Iran "extremely hard" for the next two to three weeks, dampening hopes for a near-term resolution. Here's what to know: In the roughly 20-minute speech, Trump emphasized that the conflict is "getting very close" to an end. If no deal is reached in the next two or three weeks, he said, the U.S. could "hit" Iran's oil.
Trump notably did not mention negotiations or plans to send ground troops, both of which have been viewed as avenues for ending the conflict.
The president acknowledged that Americans are struggling with the highest energy prices in years, blaming the spike on the Iranian regime's "deranged terror attacks against commercial oil tankers and neighboring countries that have nothing to do with the conflict."
Stock futures are sinking following the address, while oil prices are roughly 8% higher this morning.
The stock market is closed tomorrow in observance of Good Friday. But don't miss a special edition of CNBC's "Squawk Box" at 8 a.m. ET for coverage of the March jobs report.
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2. Pre-flight check
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