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Happy Wednesday. Treasury Secretary Scott Bessent told CNBC this morning that President Donald Trump’s 15% tariffs worldwide will go into effect this week. He also said the US would make a “series of announcements” to support Gulf oil trade.
Stock futures are rising this morning. All three major averages ended yesterday with declines.
Here are five important things investors need to know to start their trading day.
1. Cheer up
On Monday, March 2, 2026, television stations will broadcast U.S. President Donald Trump from the floor of the New York Stock Exchange (NYSE) in New York, USA.
Michael Nagle | Bloomberg | Getty Images
Stock markets posted losses yesterday after President Trump said the United States would insure Gulf shipping and escort tankers through the Strait of Hormuz if necessary. The midday reversal was reminiscent of the market’s dramatic rebound on Monday as investors continued to monitor the war between the United States and Iran.
Here’s what you need to know:
2. Defensive positioning
OpenAI CEO Sam Altman speaks at the AI Impact Summit gathering in New Delhi, India on February 19, 2026.
Barwika Chhabra | Reuters
OpenAI CEO Sam Altman told staff yesterday that the company “cannot make operational decisions” about how the military uses its technology. With OpenAI employees alphabet It is reportedly in talks with the Pentagon over the use of Geminibots, but is calling for stronger guardrails for the military’s use of AI.
“So maybe they think the attack on Iran was good and the invasion of Venezuela was bad,” Altman said, according to a partial transcript of the meeting reviewed by CNBC. “There’s no need to consider that.”
OpenAI won the Pentagon contract last week after the Pentagon blacklisted rival Anthropic. Federal Communications Commission Chairman Brendan Carr told CNBC yesterday that Anthropic “made a mistake” in its negotiations with the Pentagon.
3. Kill two birds with one stone
April 20, 2023, Blackstone headquarters in New York.
Michael Nagle | Bloomberg | Getty Images
black stone President John Gray yesterday defended the quality of loans from the company’s major private credit funds, telling CNBC that “we feel pretty good” when looking at credit quality, borrowings and EBITDA growth.
The alternative asset management company allowed investors to withdraw about 8% of the BCRED Private Credit Fund, according to a report on Monday. Blackstone shares fell nearly 4% in yesterday’s trading on the news, pushing other private credit names lower during trading.
As CNBC’s Hew Song points out, concerns about the health of the private credit sector are exacerbated by the move by alternative asset managers to enable investors to cash out. Gray told CNBC that those concerns have intensified in recent months, and his company is facing “a ton of noise.”
4. In front of the committee
U.S. Secretary of Commerce Howard Lutnick speaks during a press conference in the James S. Brady Press Briefing Room at the White House on Friday, February 20, 2026 in Washington, DC, USA.
Annabelle Gordon Bloomberg | Getty Images
Secretary of Commerce Howard Lutnick has voluntarily agreed to testify before the House Oversight Committee regarding his relationship with sex offender Jeffrey Epstein, Congressman James Comer announced yesterday.
The Cabinet secretary is under intense pressure from both sides to discuss her relationship with Epstein after recently released records showed that her relationship with him was more extensive than previously known. Lutnick has not been accused of wrongdoing and told Axios he “did nothing wrong” and “wants to set the record straight.”
The House Oversight Committee yesterday asked Kathryn Ruemmler, a top lawyer at Goldman Sachs, to testify about her relationship with Epstein, a spokeswoman said. Ruemmler has said she has “done nothing wrong” and “welcomes the opportunity to appear in court,” her spokeswoman said.
5. Material Girl, Analog World
A booth attendant uses a Nikon Z7 mirrorless digital camera at the CP+ Camera & Photo Imaging Show held in Yokohama on February 28, 2019.
Tomohiro Osumi | Getty Images News | Getty Images
Gen Z wants to go offline. The result was a $230 notebook, digital camera, and dollhouse furniture.
As CNBC’s Megan Sauer reports, this generation is spending money on old-fashioned hobbies. Business owners who sell products such as rotary phones and needlepoint kits are seeing revenue increase while the average age of their customers decreases.
There’s a reason for this wave of nostalgia spending. Marni Shapiro, co-founder of Retail Tracker, said that when political and economic instability increases, consumers tend to turn to products and experiences associated with their or their parents’ childhoods.
daily dividend
pinterest Yesterday, the stock rose more than 9% after activist firm Elliott Investment Management made a $1 billion investment. The social media company said it would use the funds to buy back its own shares.
—CNBC’s Sean Conlon, Laura Kolodny, Jennifer Elias, Annie Palmer, Pia Singh, Ashley Caputo, Jennifer Elias, Mackenzie Sigalos, Hew Song, Kevin Browninger, Arjun Karpal, Megan Sauer and Samantha Subin contributed to this report. Josephine Rozzelle edited this version.
