GoKawiilThis is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Monday. I spent the weekend on an overnight trail race in Vermont. Even if you stayed home, you likely still felt inflation's pinch. Stock futures are lower this morning. The S&P 500 is coming off a winning week. Here are five key things investors need to know to start the trading day:
1. Air forces
Donald Trump, President of the United States, speaks during a press conference at the NATO Summit at the Presidential Complex in Ankara, Turkiye, on July 8, 2026. (Photo by Klaudia Radecka/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty Images
Stock futures are sliding this morning after the U.S. and Iran traded air strikes over the weekend. U.S. Central Command said last night that American forces hit dozens of targets "to degrade Iran's ability to continue attacking international shipping flowing through the Strait of Hormuz." Here's what to know: As CNBC's Spencer Kimball writes, disagreement over control of the critical sea lane is partially the result of a lack of defined shipping routes in the U.S.-Iran deal signed last month.
Iran's Islamic Revolutionary Guard on Saturday said it had closed the strait "until further notice," though the U.S. military denied that claim. In an interview with NBC News aired yesterday, President Donald Trump said that the strait was open.
Oil prices jumped to start this week following the renewed fighting over control of the Strait of Hormuz.
The S&P 500 and Nasdaq Composite Dow Jones Industrial Average
Follow live market updates here.
2. Graham dies at 71
U.S. Sen. Lindsey Graham (R-SC) speaks during a press conference at the U.S. Capitol on April 27, 2026, in Washington, DC. Heather Diehl | Getty Images
... continue reading