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Happy Thursday. If you’re concerned about automation impacting your job, I’m sorry to say this story Xiaomi’s humanoid robot “interns” probably won’t ease those worries.
Stock futures are lower this morning. The three major indexes are coming off a winning day.
Here are five key things investors need to know to start the trading day:
1. War powers
Smoke rises from an unknown location in Tehran, Iran, on March 4, 2026, after U.S.-Israeli attacks.
Morteza Nikoubazl | Nurphoto | Getty Images
The Senate blocked a resolution yesterday that would have required President Donald Trump to pull back from the war with Iran. Democrats and some Republicans say that Trump needs congressional approval to carry out the operation in Iran, though yesterday’s vote was seen as a reflection of Senate Republicans’ support for the war.
Here’s what to know:
- The stock market rebounded yesterday, with the Dow Jones Industrial Average gaining more than 200 points. The S&P 500 is now back in the green for 2026 and only slightly in the red for the week.
- U.S. crude oil’s monster rally took a breather after Treasury Secretary Scott Bessent promised aid for tankers. The White House did not provide a timeline yesterday for when the Strait of Hormuz would be safe for transit.
- As CNBC’s Matt Peterson writes, higher oil prices still may not stop Kevin Warsh, Trump’s Federal Reserve Chair pick, from lowering interest rates. Trump formally nominated Warsh yesterday.
- Meanwhile, a South Korean index had its worst day on record yesterday amid concerns about the conflict. But the index roared back to life today, registering its best session since 2008.
- Follow live markets updates here.
2. Broadening horizons
Signage at the Broadcom Inc. headquarters in San Jose, California, June 2, 2025.
David Paul Morris | Bloomberg | Getty Images
Broadcom reported better-than-expected earnings and revenue for the first fiscal quarter yesterday, also offering upbeat guidance for its current period. Investors liked what they heard: Shares of the chipmaker are up 6.5% in extended trading.
CEO Hock Tan said the California-based company could see more than $100 billion in revenue from artificial intelligence chips in 2027. He also said Broadcom has supply chain to make it happen.
As CNBC’s Katie Tarasov reports, a twelve-figure haul would only be the latest feather in the cap of the company that’s been a key winner of the AI boom. Broadcom said its AI revenue more than doubled in the most recent quarter compared with a year prior.
3. Court cam
Elon Musk arrives at federal court on March 4, 2026 in San Francisco, California.
Josh Edelson | Getty Images
Billionaire Elon Musk on Wednesday testified in federal court, where he pushed back on allegations that he committed civil securities fraud prior to purchasing Twitter — the social media platform he later renamed X.
In a class action lawsuit, investors said Musk tried to lower Twitter’s stock price so he could buy the company for less. But Musk’s legal team asserted that he never wanted to hurt the business or its stakeholders.
“My tweets have sometimes the opposite effect of what one would expect on stock prices,” said Musk, who’s known for his prolific social media usage. “Sometimes they have the expected effect.”
4. AI’s PR problem
Meta president Dina Powell McCormick (L) and Google president Ruth Porat (2nd L) attend a roundtable on the Ratepayer Protection Pledge in the Indian Treaty Room in the Eisenhower Executive Office Building (EEOB) on the White House campus in Washington, D.C., U.S., March 4, 2026.
Nathan Howard | Reuters
As midterm elections heats up, Trump has a problem: AI. The technology’s infrastructure, as he put it yesterday, is in need of “some PR help.”
Americans have blamed AI data centers for rising energy prices, which could shape up to be a key campaign issue as Democrats focus on cost of living. Trump pledged to cut energy prices in half in his first year in office, but federal data shows average residential costs rose 6% nationally in 2025.
On Wednesday, Trump brought several Big Tech executives — including Oracle‘s Clay Magouyrk, Google‘s Ruth Porat, Meta‘s Dina Powell and Microsoft‘s Brad Smith — to the White House to sign a previously announced pledge to supply their own power for data centers. But as CNBC’s Spencer Kimball notes, the pledge doesn’t appear to contain any binding commitments.
5. Traveler’s remorse
Stranded passengers wait with their luggage outside the Hazrat Shahjalal International Airport in Dhaka on March 3, 2026 after carriers cancelled flights amid the Middle East conflict.
Munir Uz Zaman | Afp | Getty Images
The $11.7 trillion global travel sector is in a tough spot following U.S. and Israeli strikes on Iran. At least 20,000 flights in and out of the Middle East have been canceled due to airspace closures following Saturday’s strikes, leaving more than a million people stranded.
“This has spiraled into an aviation quagmire,” said Atmosphere Research Group’s Henry Harteveldt, who called this week one of the “most chaotic” periods for the industry in recent history.
Disruptions due to the Iran war come about a week after a surge in violence in Mexico grounded flights to Puerto Vallarta and Guadalajara. As CNBC’s Leslie Josephs reports, travelers are growing warier: Inquiries for “cancel for any reason” travel insurance policies have soared this week, according to Squaremouth.
The Daily Dividend
Berkshire Hathaway announced this morning that the conglomerate started repurchasing shares for the first time since 2024. CEO Greg Abel, who bought $15 million in stock himself, told CNBC’s “Squawk Box” that he consulted with board chair Warren Buffett on the move.
— CNBC’s Sean Conlon, Lee Ying Shan, Matt Peterson, Dan Mangan, Jordan Novet, Katie Tarasov, Lora Kolodny, Ari Levy, Spencer Kimball, Leslie Josephs, Contessa Brewer and Yun Li contributed to this report. Josephine Rozzelle edited this edition.