GoKawiilThis is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Thursday. Elon Musk will return the stand today in the case between him and OpenAI's Sam Altman. Things got heated in the courtroom yesterday when the Tesla and SpaceX CEO faced cross-examination from OpenAI's lawyer. Stock futures are rising this morning. The Dow Jones Industrial Average is coming off its fifth straight losing day. Here are five key things investors need to know to start the trading day:
1. The tech TLDR
The Meta corporate logo is featured at the Fira Gran Via booth, highlighting the company's ''AI-First'' hardware ecosystem during the Mobile World Congress. Joan Cros | Nurphoto | Getty Images
2. Succession planning
U.S. Federal Reserve Chair Jerome Powell departs following his final press conference following a two-day meeting of the Federal Open Market Committee (FOMC), at the U.S. Federal Reserve in Washington, D.C., U.S., April 29, 2026. Kevin Lamarque | Reuters
3.T-oil and trouble
US Secretary of Defense Pete Hegseth, testifies for a US House Armed Services Committee hearing titled "Department of Defense FY2027 Budget Request," on Capitol Hill on April 29, 2026. Saul Loeb | Afp | Getty Images
Brent crude futures surged to $126 overnight — a new high for oil prices since the Iran war began — amid a report that President Donald Trump is set to be briefed on options for potential military action against Tehran. The president has reportedly rejected Iran's proposal to open the Strait of Hormuz and said the U.S.' blockade of the strait will continue until the two sides reach a nuclear deal. Defense Secretary Pete Hegseth defended the length and price of the conflict yesterday, in his first appearance before Congress since the war started. Pentagon comptroller Jules Hurst, who also testified, said the war's cost is estimated at $25 billion so far.
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4. Fast lane
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