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Hello, this is Leonie Kidd with today’s edition of Morning Squawk.
Markets are ready to turn over a new leaf in November, with futures higher after closing out a tough October.
This week brings a raft of market moments, with more Magnificent Seven earnings, the midterms, and a payrolls data day on Friday.
Buckle up, it’s another big week.
Oil prices are at the center of the price action, with both Brent and WTI falling over 4% in early trade.
The move comes as negotiators renewed diplomatic efforts to ease tensions with Iran. According to Reuters, a draft proposal is being circulated after another round of talks in Doha on Sunday.
U.S. Secretary of State Marco Rubio told reporters this weekend that President Donald Trump would prefer to resolve the war “diplomatically,” adding that ”...if we needed to do something militarily, we would have the ability to do it, and we really have everything we need to be successful. But we would prefer to do it peacefully.”
Futures are moving higher, looking set to start November on a positive note after the worst month for the Nasdaq 100 in a year.
The chip stocks are supporting the gains, with a strong handover from Asia. Shares in SK Hynix and Samsung rose sharply during overnight trading.
CNBC’s Morning Squawk recaps the biggest stories investors should know before the stock market opens, every weekday morning.
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Apple will be hoping to bring the shine back to the Magnificent Seven after last week’s rough run for technology stocks. So far, the stock is the group’s best performer — up 28% year-to-date — but expectations are sky-high.
CNBC’s MacKenzie Sigalos will report from Cupertino as CEO John Ternus hosts his first earnings call at the helm.
One day to go, here are the latest headlines:
CNBC’s coverage will continue throughout the day with a focus on the economy.
‘Pop-up’ super PACs pour $637 million into 2026 midterm races
A super PAC called Our Heritage Matters registered with the Federal Election Commission on Oct. 15.
Five days later, it began spending to boost third-party candidates and attack Republicans. By Oct. 29, the group had spent about $1.2 million across 10 House and Senate races, according to a CNBC analysis of FEC filings.
But voters still cannot see who supplied the money.
— CNBC’s Jenny Lee, Dan Murphy, Jeff Kilburg, Fred Imbert, Luke Fountain, Dan Mangan and Garrett Downs contributed to this report.
Jack Sommers edited this edition.