GoKawiilThis is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Monday. I saw "The Odyssey" over the weekend, but I wasn't able to snag a seat in an elusive Imax 70-millimeter screening. More on that below. Stock futures are jumping this morning after a losing week for all three major indexes. Here are five key things investors need to know to start the trading day:
1. Conflict resolution?
Traders work on the floor of the New York Stock Exchange (NYSE) on July 21, 2026 in New York City. Spencer Platt | Getty Images
2. Distillation debate
Alibaba-backed Chinese startup Moonshot has launched one of the more popular generative AI chatbots called Kimi. Sopa Images | Lightrocket | Getty Images
Whether it's in Washington, D.C. or Silicon Valley, tech elite can't stop talking about "distillation." The concept — which broadly refers to using answers from one advanced artificial intelligence model to train another — became especially buzzy after Chinese lab Moonshot AI released its Kimi K3 model last week. As CNBC's Kif Leswing and Jonathan Vanian report, some government officials are worried distillation could help China catch up to the U.S. in the AI race. White House advisor Michael Kratsios said last week that Moonshot distilled Anthropic's Fable model to develop Kimi K3, which is one of several open-weight offerings out of China that are cheaper than those of OpenAI or Anthropic. In a letter published Friday, major technology companies said distillation is "a widely used technique for model improvement, evolution, and validation" and pushed policymakers to avoid "premature restrictions" they said could hinder competition.
3. The body shop
Front grille of Ford's new Bronco Desert Rising package. Courtesy Ford
Ford wants its own "Nike shoe drop" moment. As CNBC's Michael Wayland reports, the legacy automaker is expanding its accessory and parts business, hoping more customization by drivers will boost profits. The Detroit-based company, which reports earnings tomorrow, plans to increase its aftermarket product and systems business and release special-edition models. Ford Custom Garage's first "shoe drop" moment happened today when it released a sunrise-inspired Ford Bronco SUV with a $57,350 price tag. Here's a look at the limited-edition Bronco.
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