GoKawiilThis is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Friday. If you were following the meme stock-ification of Wendy's , the fast-food chain's surge didn't extend to a second day. Stock futures are lower this morning. The S&P 500 ended yesterday near flat. Here are five key things investors need to know to start the trading day:
1. Lost memories
The new Apple Mac Studio computer and Studio Display are displayed shortly after going on sale at the Apple Store on 5th Avenue in Manhattan, in New York City, New York, March 18, 2022. Mike Segar | Reuters
2. Name your price
Austan Goolsbee, President and CEO, Federal Reserve Bank of Chicago speaks at The Capital Hilton during the 42nd annual National Association for Business Economics Economic Policy Conference on February 24, 2026 in Washington, DC. Luke Johnson | Getty Images
Federal Reserve leaders are zeroing in on what to do about inflation. Chicago Federal Reserve President Austan Goolsbee told CNBC yesterday that "the problem's on the inflation side" of the central bank's mandate, rather than on the job market side. On the other hand, New York Fed President John Williams said at an event that he expects inflation to start trending downward. Data released yesterday showed the core personal consumption expenditures price index in May rose 3.4% from a year ago. As CNBC's Jeff Cox notes, that's the index's highest level since late 2023.
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3. Supreme Court rulings
Bottles of Roundup, a brand owned by Bayer, are seen for sale in a store in New York City. June 30, 2022. Andrew Kelly | Reuters
The Supreme Court ruled yesterday that Bayer cannot be sued over state-level allegations that it failed to warn of cancer risks tied to products. The Roundup maker and the Trump administration had argued that failure-to-warn claims are preempted by a federal law that regulates pesticides. As CNBC's Garrett Downs notes, the 7-2 ruling marks a big victory for Bayer and the White House — though it's a major blow to the Make America Healthy Again movement, which backed Trump in the 2024 election. The Supreme Court also on Thursday allowed Trump to end a humanitarian status that protected hundreds of thousands of Haitian and Syrian immigrants from deportation. The 6-3 ruling overturned decisions by New York and Washington, D.C.-based federal judges, who had halted Trump's bid to end Temporary Protected Status.
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