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Good Monday morning. CNBC’s Brian Sullivan met with Treasury Secretary Scott Bessent today in Paris, shortly after Bessent concluded discussions with his Chinese counterpart. Bessent indicated that “logistical challenges” might lead to a postponement of President Trump’s planned trip to China later this month.
Stock futures are trending upward this morning, following a week that ended with losses for markets.
Here are five crucial points investors should consider as the trading day begins:
1. Oil prices ignite
Gas flares illuminate an oil production platform at the Soroush oil fields in the Persian Gulf, featuring an Iranian flag in the foreground, approximately 1,250 km (776 miles) south of Tehran on July 25, 2005.
Raheb Homavandi | Reuters
Key details:
- On Friday, Trump announced via a Truth Social post that the U.S. conducted “bombing raids” on Iranian military targets on the island. While he initially spared Iran’s oil infrastructure, Trump warned he would “reconsider” this stance if Iran disrupted shipping through the Strait of Hormuz.
- In a weekend interview with NBC News, the president suggested the U.S. might strike Kharg Island “a few more times just for fun.”
- Kharg Island, situated roughly 15 miles off Iran’s coast in the northern Persian Gulf, handles about 90% of the country’s crude oil exports.
- Concurrently, Trump is urging other nations to deploy vessels to the Strait of Hormuz to help secure the critical shipping lane.
- This morning, oil prices continued their ascent, although they later moderated some of their early gains.
- Track live market updates here.
2. Fed subpoenas blocked
Federal Reserve Chair Jerome Powell addresses a press conference after a Federal Open Market Committee meeting at the Federal Reserve building on Dec. 10, 2025, in Washington, DC.
Chip Somodevilla | Getty Images
Last week, a federal judge rejected subpoenas directed at the Federal Reserve, which were part of the Justice Department’s criminal probe into Chair Jerome Powell.
U.S. Attorney Jeanine Pirro stated Friday that the DOJ plans to appeal U.S. District Judge James Boasberg’s decision. Boasberg’s ruling cited “a mountain of evidence” suggesting the subpoenas were issued to pressure the central bank into lowering interest rates.
This blocked action initiated a series of ripple effects: The appeal will prolong the DOJ’s investigation into Powell. Consequently, Senator Thom Tillis, R-N.C., is expected to maintain his block on Kevin Warsh’s nomination to succeed Powell. This could mean Powell remains Fed chair for a longer duration, potentially keeping interest rates elevated.
3. AI, CPUs, and GTC in focus
Jensen Huang, Nvidia Corp. chief executive officer, speaks during the 2026 CES event in Las Vegas, Nevada, US, on Tuesday, Jan. 6, 2026. Siemens and Nvidia announced an expansion of their strategic partnership to develop industrial and physical AI solutions to bring AI-driven innovation to industrial workflow. Photographer: Bridget Bennett/Bloomberg via Getty Images
Bloomberg | Bloomberg | Getty Images
All eyes are on Nvidia this week as the chipmaking giant is poised to unveil its innovations for agentic-optimized central processing units at its annual GTC conference.
The demand for Nvidia’s CPUs has surged dramatically with the rise of agentic artificial intelligence, to the point where some industry observers are cautioning about a potential supply crisis for these chips. Dion Harris, Nvidia’s head of AI infrastructure, noted to CNBC last week that CPUs are “increasingly becoming the bottleneck in terms of scaling this AI and agentic workflow.”
4. Key legislative vote nears
Senate Majority Leader John Thune, a Republican from South Dakota, addresses members of the media during a vote at the US Capitol in Washington, DC, US, on Thursday, Feb. 12, 2026.
Graeme Sloan | Bloomberg | Getty Images
The SAVE America Act is scheduled for a Senate vote this week, yet the Trump-supported voter-ID bill faces significant challenges in securing the 60 votes required for passage.
Senate Democrats have pledged to oppose the legislation, which would mandate Americans to provide proof of citizenship for voter registration and a photo ID for casting a ballot. “This would be an appalling development,” Senate Minority Leader Chuck Schumer, D-N.Y., informed reporters on Sunday. With a 53-47 majority, Republicans will need Democratic backing to pass the bill, unless the filibuster rule is abolished.
The SAVE America Act has increasingly become a central focus for Trump. The president declared in a social media post last week that the bill “must be enacted without delay. It takes precedence over all other matters.” He added that he “will not sign other Bills until this is passed.”
5. A cinematic merger challenge
David Ellison attends the 48th Kennedy Center Honors at The Kennedy Center on December 07, 2025, in Washington, DC.
Shannon Finney | Wireimage | Getty Images
Should Paramount Skydance successfully navigate regulatory approvals and finalize its acquisition of Warner Bros. Discovery, the newly combined entity could release at least 26 films theatrically next year. This extensive movie lineup, which might still expand, largely aligns with Paramount CEO David Ellison’s stated ambition of producing 30 movies annually: 15 from Paramount and 15 from Warner Bros.
However, as CNBC’s Sarah Whitten reports, Ellison’s strategy to dominate Hollywood’s box office might prove unsustainable. It would also represent a massive logistical undertaking: With 30 films and only 52 weekends in a year, the merged studio risks its own titles competing against each other for ticket sales.
The Daily Rundown
Here’s what’s on our radar this week:
- Monday: Dollar Tree earnings (pre-market); March Empire State Manufacturing Survey results
- Tuesday: Lululemon Athletica earnings (post-market); February pending home sales figures
- Wednesday: Macy’s earnings (pre-market); Micron earnings (post-market); February producer price index; Federal Reserve policy decision
- Thursday: Darden Restaurants earnings (pre-market); FedEx earnings (post-market); January wholesale inventories data; January new home sales data
— This report was compiled with contributions from CNBC’s Garrett Downs, Spencer Kimball, Sam Meredith, Lee Ying Shan, Lim Hui Jie, Holly Ellyatt, Fred Imbert, Dan Mangan, Katie Tarasov, Justin Papp, Kate Dore and Sarah Whitten. Terri Cullen served as editor for this edition.