5 things to know before markets open on Friday

Happy Friday. Do you have a letter you were thinking of sending? You might as well get it in the mail sooner rather than later. The U.S. Postal Service is considering raising rates as it experiences what it calls a “severe financial crisis.”

Stock futures were little changed this morning after adding to post-ceasefire gains in yesterday’s trading.

Here are five important things investors need to know to start their trading day.

Despite a cease-fire agreement between the US and Iran announced on Tuesday, tanker traffic through the Strait of Hormuz remains at a near standstill, with US crude oil below $100 this morning.

Here’s what you need to know:

Oil prices closed at yesterday’s record high after Israeli Prime Minister Benjamin Netanyahu said his country would negotiate with Lebanon “as soon as possible.” Iran’s Israeli attack on Lebanon is one of three violations that the speaker of Iran’s parliament said Wednesday amounted to a violation of the ceasefire agreement. In response to reports that Iran was planning to impose a toll on transit through the Strait of Hormuz, President Trump said in a social media post yesterday that Iran “better not do that.” If so, you should stop now! ” All three major averages are set to post significant gains this week. S&P500 Thursday’s gains also marked the best week since November. Dow Jones Industrial Average Follow live market updates here.

Data released yesterday showed that even before the Iran war sent energy prices soaring, inflation was above the Federal Reserve’s target.

The Federal Reserve’s recommended inflation measure, the Personal Consumption Expenditure Price Index, rose 2.8% in February from a year earlier, in line with expectations. Core PCE, which removes food and energy, also increased by 3% annually, in line with expectations.

Although the economic impact of the Iran war has rendered the report somewhat outdated, Thursday’s statistics give the Fed valuable perspective on the underlying conditions before the conflict began. Still, investors won’t have to wait long for more up-to-date information on inflation. The Bureau of Labor Statistics’ Consumer Price Index for March is scheduled to be released this morning at 8:30 a.m. ET.

OpenAI appears to be trying to reassure investors of its place in the artificial intelligence market as rival Anthropic gains momentum. The AI ​​company sent a memo to investors this week, specifically contrasting the two companies’ computing expectations and criticizing Anthropic for “operating on a meaningfully small curve.”

And as OpenAI strengthens its computing strategy, Meta and Amazon We’re doubling our spending on AI. Meta yesterday, core weave AI cloud infrastructure. Meanwhile, Amazon CEO Andy Jassy defended his company’s $200 billion AI investment in his annual letter.

Sources told CNBC yesterday that Kevin Warsh’s nomination hearing before the Senate Banking Committee has been postponed.

Warsh, who was nominated by President Trump to lead the Fed, was expected to appear before the committee on April 16, but three people familiar with the matter said the committee had not yet received the necessary documents from the former Fed director. A public hearing is still expected to take place in the near future.

National Economic Council Chairman Kevin Hassett told Fox Business yesterday that he is “very confident” that Mr. Warsh will be ready by the end of current Fed Chairman Jerome Powell’s term next month. However, Sen. Thom Tillis (R.N.C.) has vowed that he will not vote for Fed chairman until the Justice Department concludes its criminal investigation into Powell.

The U.S. Department of Justice is investigating the NFL over possible anti-competitive tactics, a government official told CNBC yesterday.

The study, which it said would address concerns about “affordability for consumers and creating a level playing field for providers,” comes as the league is renegotiating media rights deals with networks sooner than expected and is reportedly considering larger deals. Netflix.

In a statement to CNBC, the NFL said that nearly 90% of its games are shown on television for free and that its model is “the most fan- and broadcaster-friendly in the entire sports and entertainment industry.”

A lot happened this week. Here’s what you might have missed:

— CNBC’s Camaron McNair, Sean Conlon, Lisa Kai-Lai Han, Li Ying Xiang, Sam Meredith, Spencer Kimball, Kevin Browninger, Jeff Cox, Ashley Caputo, Jordan Novett, Annie Palmer, Emily Wilkins, Matt Peterson, Lillian Rizzo and Ryan Ruggero contributed to this report. Melody Warner edited this version.