GoKawiilThis is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy start to a short week. Stocks are slightly higher, Greg Abel is a U.S. citizen and the U.S. is prepping for a scorcher for the holiday — with air conditioning. Here are five key things investors need to know to start the trading day:
1. Comcast plots spinoffs
UNIVERSAL STUDIOS, ORLANDO, FLORIDA, UNITED STATES - 2019/07/18: Comcast sign logo in the wall of a building at Universal Studios. (Photo by Roberto Machado Noa/LightRocket via Getty Images) Roberto Machado Noa | Lightrocket | Getty Images
Spinoffs: They're not just for industrials. Comcast is planning to spin off its media and technology businesses into two publicly traded companies through a tax-free spinoff of NBCUniversal and Sky, sending shares of the media and telecommunications conglomerate soaring. The company said it expects to complete the spinoff in a year and that Comcast shareholders will own shares in both Comcast and NBCUniversal.
2. Fragile truce
Oil tankers and cargo vessels remain anchored off Port Sultan Qaboos on June 21, 2026 in Muscat, Oman. Elke Scholiers | Getty Images
The U.S. and Iran agreed Sunday to pause hostilities and allow commercial vessels to freely transit the Strait of Hormuz after military exchanges threatened to derail negotiations. The U.S. attacked Iranian military targets over the weekend in retaliation for Iranian strikes in the Strait of Hormuz. President Donald Trump then threatened to annihilate Iran, saying Saturday in a Truth Social post: "United States aircraft just struck Iranian missile and drone storage locations, and coastal radar sites, for violating the Cease Fire Agreement, AGAIN!" Both U.S. and global oil prices started the week higher as traders assessed whether the truce would hold.
3. Exports heat up China's economy
A cargo ship loaded with containers departs from Qingdao Port in Qingdao City, Shandong Province, China, on December 4, 2025. Costfoto | Nurphoto | Getty Images
Survey says: China's economy is heating up, thanks to an increase in exports to the United States. "Manufacturing saw the clearest improvement. Retail sales recovered nicely," said the China Beige Book, an independent survey of Chinese businesses, on Monday. The survey — which covers 1,321 businesses from June 1 to 22 — said luxury goods sales also rose but tourism-related spending fell, write Anniek Bao and Evelyn Cheng. "The second quarter is ending on a more positive note than it began, but this performance will need to repeat itself in July and August for there to be legitimate cause for celebration," the report said.
... continue reading