GoKawiilThis is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Monday. While I was keeping busy as a groomsman in a wedding in Michigan, artificial intelligence executives were busy making big business and policy moves. Stock futures are lower this morning. The three major averages are coming off a losing week. Here are five key things investors need to know to start the trading day:
1. Pace yourself
Dario Amodei, co-founder and chief executive officer of Anthropic, during an interview at Anthropic's headquarters in San Francisco, California, US, on Thursday, April 30, 2026. Jason Henry | Bloomberg | Getty Images
2. Burning the midnight oil
FILE PHOTO: Oil tankers pass through the Strait of Hormuz, December 21, 2018. Hamad I Mohammed | Reuters
Crude oil prices are higher this morning after Saudi Arabia closed a key pipeline that bypasses the Strait of Hormuz, citing damage sustained by drones launched from Iraq. The Saudis have not said how bad the damage was or for how long the closure would last. The East-West pipeline can carry 7 million barrels of oil per day and has helped alleviate some of the supply crunch brought about by the Iran war. A diplomatic meeting on Hormuz between Iran and the Gulf Arab states scheduled for Monday was postponed following the attack on the pipeline. U.S. West Texas Intermediate futures and Brent crude futures both rose by more than 3% this morning. Last week, U.S. crude's per-barrel price surpassed $100 for the first time since May as fighting in the Middle East ratcheted up.
3. Raising the roof
An electronic display shows the national debt in Washington, Aug. 19, 2026. Mandel Ngan | AFP | Getty Images
Analysts expect the U.S. will reach its $41.1 trillion debt ceiling sometime next year, at which point Congress will either need to raise it or suspend it before the Treasury Department runs out of measures to stop the U.S. from entering what would be a catastrophic default. As CNBC's Garrett Downs reports, the outcome of November's election could shape the path to fixing the problem. If Democrats win one or both chambers of Congress, they could leverage averting the debt ceiling to score policy wins from President Donald Trump. Plus, Trump's recent promise for a $5,000 dividend for every American adult if Republicans keep control of the House and Senate in November could bring the U.S. to its limit even faster. Some Republicans said they would not lift the ceiling without significant cuts to government spending.
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