GoKawiilThis is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Good morning. President Donald Trump weighed in on the artificial intelligence debate yesterday following startling warnings from several researchers about the risks posed by the technology. Here's what he said. Stock futures are higher before the bell. All three major averages closed Thursday's session lower. Here are five key things investors need to know to start the trading day:
1. Hotter and hotter
A woman shops for food items from a wholesale retailer in Alhambra, California on August 11, 2026. Frederic J. Brown | Afp | Getty Images
Investors are heading into the final trading day of the week with inflation, oil prices and the Federal Reserve all in focus. The consumer price index, which is the Fed's last major inflation reading before its rate decision next week, showed prices continued to rise in August. Here's what to know: CPI rose 0.4% last month and 3.4% from a year ago, according to the report released this morning. Both numbers were in line with analysts' expectations. Core CPI, which excludes food and energy prices, rose 0.3% for the month, slightly higher than expected.
This morning's report comes after Thursday's producer price index rose 0.4% for the month, in line with forecasts, while the annual rate climbed to 5.4%, slightly hotter than expected. Energy was a major driver, with diesel prices in the index surging 24.1%.
High oil prices are indeed adding to the pressure. U.S. crude hit a record $6 per gallon overnight.
hit a record $6 per gallon overnight. Traders pushed the odds of a quarter-point Fed rate hike next week above 70% after Thursday's PPI report and oil surge.
Stock futures are higher in premarket trading as investors digest the CPI report. All three major averages are looking to end a four-day losing streak.
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2. Revenue race
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