5 Things to Know Before Monday’s Market Open

This edition of CNBC’s Morning Squawk newsletter is here to keep you ahead of the market.

A surprising resurgence has been making headlines: Kodak, a name synonymous with analog photography, is experiencing a renaissance. The company’s film was instrumental in the production of critically acclaimed films showcased at the recent Academy Awards. This turnaround story is a testament to a leader’s strategic vision, transforming a legacy business and reintroducing it to the global stage.

Following a robust week that saw all three major indexes post their strongest weekly gains in months, stock futures are indicating a softer open this morning.

Here are five critical developments investors need to monitor as the trading day commences:

Oil prices are experiencing a significant surge after President Donald Trump announced a U.S. naval blockade of the Strait of Hormuz. This decisive action follows the breakdown of peace talks between U.S. and Iranian officials over the weekend in Pakistan, failing to yield any agreement.

Key takeaways for traders include:

• Vice President JD Vance, who spearheaded the U.S. delegation, cited Iran’s persistent pursuit of nuclear weapons as the primary obstacle to a resolution.
• In response to the President’s directive, U.S. Central Command has confirmed its forces will commence a comprehensive blockade of all maritime traffic entering and exiting Iranian ports at 10:00 AM ET today.
• While President Trump suggested international cooperation for the blockade, U.K. Prime Minister Keir Starmer has stated that his country will not participate in the operation.
• Crude oil prices have reacted sharply, climbing 7% to surpass the $100 per barrel mark. Stock futures have declined as market participants perceive limited prospects for de-escalating the conflict.

Goldman Sachs has set the tone for a pivotal week of bank earnings, reporting first-quarter results that surpassed analyst expectations on both revenue and profit. The financial giant benefited from record performance in its equities trading division and stronger-than-anticipated investment banking revenues.

However, the market’s reaction was somewhat muted, with Goldman Sachs shares trading down over 2% following the release. This dip was attributed to weaker-than-expected trading results within its fixed-income segment, highlighting the nuanced performance across different business lines within the banking sector.

The spotlight now shifts to other major financial institutions. JPMorgan Chase, Citigroup, and Wells Fargo are scheduled to unveil their quarterly reports tomorrow morning. Bank of America and Morgan Stanley will follow suit, releasing their earnings before market open on Wednesday. Investors will be closely scrutinizing these reports for insights into broader economic trends and the health of the financial industry.

Anthropic is emerging as a dominant force in the artificial intelligence landscape, but its latest innovation, the Mythos model, is raising significant concerns regarding cybersecurity vulnerabilities.

Following the launch of Mythos, which is designed to identify software security flaws, Federal Reserve Chair Jerome Powell and Treasury Secretary Scott Bessent convened with top U.S. bank CEOs. The critical discussions focused on the potential cyber risks posed by this advanced AI model. This engagement underscores the growing need for robust regulatory frameworks to govern the deployment of powerful AI technologies.

This meeting is not an isolated incident. Sources indicate that Secretary Bessent and Vice President Vance had previously engaged with several technology executives, including Anthropic’s CEO Dario Amodei, to address the security implications of AI models well before Mythos’s public release. Such proactive engagement highlights a strategic imperative for government and industry to collaborate on mitigating the risks associated with rapidly evolving AI capabilities.

President Donald Trump launched a public attack on Pope Leo XIV via a social media post, criticizing the pontiff’s stance on foreign policy, particularly regarding the U.S. involvement in Iran. The President characterized the Pope as “WEAK on Crime, and terrible for Foreign Policy.”

President Trump’s post stated, “I don’t want a Pope who criticizes the President of the United States,” drawing a parallel between the Pope’s tenure and his own electoral successes. This rhetoric highlights a growing divergence in perspectives on international relations and the role of religious leaders in geopolitical discourse.

In response, Pope Leo XIV reiterated his commitment to advocating for peace and dialogue. He stated his intention to “continue to speak out loudly against war, looking to promote peace, promoting dialogue and multilateral relationships among the states to look for just solutions to problems.” This underscores the Pope’s dedication to multilateralism and diplomatic solutions in addressing global conflicts.

Ineos Automotive, a burgeoning automotive startup, is making significant strides in its mission to redefine the utilitarian SUV market. Founder Sir James Ratcliffe describes the company’s flagship vehicle as “the world’s best utilitarian 4×4.”

In an exclusive interview, company executives announced record order numbers for their Grenadier model during the first quarter. This surge in demand indicates strong market traction for Ineos’s distinctive approach to vehicle design and manufacturing.

“We’re running it for success. We’re running it for profitability,” stated Ineos CEO Lynn Calder. The company is strategically targeting profitability by the end of the current year, a noteworthy achievement for a nascent automotive enterprise.

The U.S. market is a key focus for Ineos, with ambitious plans to expand its sales by an annual rate of 30% to 35%. Calder also hinted at the possibility of establishing a manufacturing facility in the United States, a move that would strategically mitigate the impact of import tariffs and further solidify its presence in the North American market.

Earnings season is in full swing. Here’s a look at the significant corporate reports investors will be watching this week: