Monday, July 10, 2023, at the Zions Bank headquarters in Salt Lake City, Utah, USA.
Kim Ruff | Bloomberg | Getty Images
This is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.
Here are five important things investors need to know to start their trading day.
1. On the bank
The discovery of a small number of bad loans from banks has Wall Street looking for signs of other risks in the sector. Last week’s decline in local banks cast a shadow over the earnings reports of many major financial institutions.
Here’s what you need to know:
The panic has prompted investors to focus on loans made by banks to non-depository financial institutions, known as NDFIs. Banks themselves do not enter into this type of borrowing agreement, but they often provide the funds.ZionsOne of the local banks at the center of these lending concerns lost $1 billion in valuation in Thursday’s trading alone. Although the stock was able to rise on Friday, the stock ended the week down more than 5%. The loan concerns brought back flashbacks to the 2023 regional banking crisis, which was sparked by the failure of a Silicon Valley bank. Other local bank stocks also struggled amid the turmoil. SPDR S&P Regional Banking ETF (KRE) The three major indexes continued to rise last week. Follow live market updates here.
2. Blackout
Rio de Janeiro, Brazil – May 4, 2023; Amazon Web Services Branding. Day 3 of Web Summit Rio 2023 held at Rio Centro, Rio de Janeiro, Brazil. (Photo credit: Eóin Noonan/Web Summit Rio via Sportsfile, Getty Images)
Eoin Noonan | Sports File | Getty Images
Breaking news this morning: Major Amazon The web service outage brought down several prominent websites. According to Downdetector, users were having trouble accessing sites like Disney+, Snapchat and Venmo, but Amazon said it was seeing “significant signs of recovery.”
Power outage also caused headaches delta and united customer. Flyers reported being unable to check in for flights or view reservation or seat assignment information.
3. White House woes
Samuel Boivin | Null Photo | Getty Images
OpenAI is no longer Anthropic’s only big concern. As CNBC’s Mackenzie Sigalos reports, the artificial intelligence startup is getting attention from the White House.
Anthropic criticized the federal government’s efforts to pre-empt state-level AI oversight, a clear departure from OpenAI’s push for deregulation.
President Donald Trump’s AI and cryptocurrency czar, David Sachs, said the company is implementing a “strategy to get regulation based on fear-mongering” and supports a “leftist vision for AI regulation.” Anthropic did not comment to CNBC.
4. Draw a path
Ford Motor Company’s current world headquarters known as the Glass House. September 15, 2025 in Dearborn, Michigan.
Bill Priano | Getty Images
This year has been a difficult year for automakers. Auto companies faced inflation concerns, followed by shocks from tariffs and the associated impact on supply chains.
CNBC’s Michael Weiland reports that executives and industry watchers say the industry is faring better than expected, but there are now growing concerns about the health of consumers and suppliers. This means high risk for automakers. ford, general motors and tesla We are scheduled to report earnings this week.
5. What young shoppers want
Magic: The Gathering cards appear on a mobile phone during a weekly tournament at Uncommons Hobby Shop on Thursday, June 27, 2019 in New York, USA.
Mark Abramson Bloomberg | Getty Images
Two CNBC articles show how much younger consumers are looking for vintage-inspired products.
CNBC’s Luke Fountain analyzes the surge in trading card sales that could help retailers prepare for the all-important holiday shopping period. in targetfor example, sales in this category have surged nearly 70% since the beginning of the year, with annual revenue expected to exceed $1 billion.
What are young shoppers wearing? Gildan‘s Comfort Colors brand seems to have a following with Gen Z, from women’s soccer fans to college fraternity members. Retro colors and soft fabrics are two attributes that are drawing shoppers to the label, which saw growth jump by about 40% last year.
