GoKawiilThis is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Tuesday. It's been 10 years since Britons voted to leave the European Union, bringing about a economic and political sea-change in the U.K. Here's what's happened in the decade post-Brexit. Stock futures are lower this morning. The S&P 500 is coming off a losing day. Here are five key things investors need to know to start the trading day:
1. Back down to Earth?
The stock of SpaceX continues its consolidation phase on the New York Stock Exchange one week after its Nasdaq listing. Samuel Boivin | Nurphoto | Getty Images
2. On good authority
Scott Bessent, US treasury secretary, gives remarks during the launch of the "Fostering the Future Accounts" at the US Treasury Department in Washington, DC, US, on Thursday, June 11, 2026. Aaron Schwartz | Bloomberg | Getty Images
Treasury Secretary Scott Bessent announced yesterday that the U.S. authorized Iranian oil to be produced, delivered and sold for 60 days, citing "productive talks" between the two countries. President Donald Trump said later in the day that profits from the oil sales are expected to be used to purchase U.S. agricultural products, but an Iranian central banker said Tehran is not under an obligation to do so. "Well, they're not supposed to be doing that, so we'll see," Trump told CNBC's Eamon Javers. Oil prices dropped on Monday following Bessent's announcement.
3. Missing Targets
Target Executive Chairman Brian Cornell. Scott Mlyn | CNBC
Target 's top brass is facing a crisis of confidence. Brian Cornell, the retailer's executive chairman and former CEO, saw the lowest level of support ever from investors at the retailer's annual general meeting this month. Just over 87% of shareholders voted to reelect him to the board. That's well below the historical average for Cornell, as well as for directors of S&P 500 companies as a whole this year. As Wharton's Kevin Kaiser put it, support below the 90% level means "people are going out of their way to say they don't want you there anymore." Cornell became Target's executive chairman after stepping down as CEO earlier this year in the face of a profit and stock slump. Some see that appointment as a "reward for failure," according to retail analyst Neil Saunders.
Get Morning Squawk directly in your inbox CNBC's Morning Squawk recaps the biggest stories investors should know before the stock market opens, every weekday morning. Subscribe here to get access today.
... continue reading