GoKawiilThis is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Wednesday. If you start seeing drones in the sky, they might be part of Zipline's delivery fleet. Stock futures are higher this morning after a positive day on Wall Street. Here are five key things investors need to know to start the trading day:
1. Greasing the wheel
Customers pump gas at a Freedom Fuel Network station on July 8, 2026 in Dresher, Pennsylvania. Joe Lamberti | Getty Images
Government data released yesterday showed that energy prices cooled in June, helping curb overall inflation. Still, prices are up from a year ago and could feel more upward pressure as the U.S. and Iran continue to fight over the Strait of Hormuz. Here's what to know: The consumer price index posted its largest monthly decline since 2020. The better-than-expected print buoyed stocks, which closed higher across all three major averages yesterday.
In remarks to the House Financial Services Committee on Tuesday, Federal Reserve Chairman Kevin Warsh called for "regime change in policy" to fight inflation, which he described as an "unfair burden" and "tax" on Americans.
But renewed U.S. strikes on Iran and the U.S. Navy's blockade of Tehran's ports threaten to make the inflationary relief short-lived. U.S. Central Command said its forces launched more strikes this morning.
Oil prices rose in yesterday's session, even after President Donald Trump announced he would abandon plans to impost a 20% toll for cargo transiting the Strait of Hormuz.
Follow live market updates here.
2. Hard truths
People work on the floor of the New York Stock Exchange (NYSE) on July 07, 2026 in New York City. Spencer Platt | Getty Images
... continue reading