GoKawiilThis is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Friday. My colleagues and I will be covering Berkshire Hathaway 's annual meeting tomorrow — its first without Warren Buffett as CEO. You can follow along with our special coverage on TV and online. S&P 500 futures are little changed this morning after the index closed above the 7,200 level for the first time yesterday. Here are five key things investors need to know to start the trading day:
1. Clear skies
American multinational technology company Intel showcases their motherboards during the artificial intelligence exhibition AI EXPO 2026 in Taipei, Taiwan, on March 25, 2026. Daniel Ceng | Anadolu | Getty Images
2. iRally
The Apple logo is seen at an Apple store in the Barton Creek Square mall on April 30, 2026 in Austin, Texas. Brandon Bell | Getty Images
Apple shares are more than 3% higher this morning after the company exceeded analysts' second-quarter expectations for earnings and revenue. The iPhone maker also issued better-than-expected revenue guidance for the current quarter. Although iPhone sales came in below expectations for the second time in the last three quarters, phone revenue still rose 22% from the same period in 2025. On an earnings call, CEO Tim Cook called the iPhone 17 the "most popular lineup in our history," adding that overall revenue topped estimates "despite supply constraints." Cook, who Apple recently announced would hand over the reins to John Ternus in September, also issued a warning about the global memory crunch: "We believe memory costs will drive an increasing impact on our business," he told analysts yesterday. Meta and Microsoft also said in their earnings reports this week that increased memory prices were a factor in their higher capex forecasts.
3. Sign on the dotted line
US President Donald Trump speaks during an executive order signing ceremony in the Oval Office of the White House in Washington, DC, US, on Thursday, April 30, 2026. Aaron Schwartz | Bloomberg | Getty Images
President Donald Trump signed a bill yesterday funding most of the Homeland Security department, putting an end to the monthslong partial government shutdown. But the deal, which was passed by the House on Thursday afternoon, doesn't include money for Immigration and Customs Enforcement and parts of Customs and Border Protection. Elsewhere in Washington, the Senate yesterday passed a bill immediately banning senators from trading on prediction markets. The vote followed mounting insider trading concerns on platforms such as Kalshi and Polymarket.
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