Trump's Greenland 'framework,' Dimon's credit card cap rebuke, YouTube's AI slop plan and more in Morning Squawk

This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.

Happy Thursday. With each passing day of the World Economic Forum, my envy grows for those spending the week in Switzerland.

Stock futures are higher this morning. The three major averages are coming off a positive session.

Here are five key things investors need to know to start the trading day:

Stocks staged a recovery rally yesterday after President Donald Trump said that the U.S. wouldn't use military force to acquire Greenland. The president later announced that he reached a framework with NATO regarding the Danish territory, sending stocks even higher.

Here's the rundown:

• In his speech at the World Economic Forum in Davos, Switzerland, Trump yesterday said he "won't use force" in his push for U.S. ownership of Greenland.
• CNBC's Spriha Srivastava was in the room for Trump's address. Here are her biggest takeaways.
• Later in the day, Trump announced on social media that he and NATO Secretary General Mark Rutte "formed the framework of a future deal with respect to Greenland." Trump also called off his plans for further tariffs on several European countries who opposed U.S. ownership of Greenland.
• Speaking to CNBC's Joe Kernen shortly after the announcement, Trump referred to the agreement as a "concept of a deal" and said it involved mineral rights and his so-called "Golden Dome" project.
• Trump also discussed his plans for Federal Reserve, Iran and home ownership. Here's the recap of his CNBC interview.
• The three major indexes extended gains following Trump's afternoon announcement and all ended the session up more than 1%. The small cap-focused Russell 2000 surged to a fresh all-time high.
• Follow live markets updates here.

The Supreme Court yesterday appeared skeptical of the Trump administration's argument that the president could fire Fed Governor Lisa Cook, indicating that Cook's job could be safe.

Justice Brett Kavanaugh told Trump's team that the president's ability to fire Fed governors without judicial review "would weaken, if not shatter, the independence of the Federal Reserve." Justice Samuel Alito, a fellow conservative voice on the bench, said Trump's firing of Cook appeared to be done in a "very cursory manner."

Speaking of the Fed: Trump told CNBC yesterday that he was "down to maybe one" candidate to be the next central bank chair. Trump declined to name his favorite.

Trump called on Congress yesterday to adopt his plan for temporary 10% credit card interest rate caps into legislation. But JPMorgan Chase CEO Jamie Dimon didn't mince words on the proposal, saying at a Davos event that "it would be an economic disaster."

Dimon suggested that Trump try out a version of the idea in Vermont and Massachusetts. While Dimon didn't name them, those happen to be the home states of Sens. Bernie Sanders and Elizabeth Warren, who both support a five-year, 10% cap on credit card rates.

Dimon also issued a rare rebuke of Trump's immigration reform efforts while in Davos. ″I don't like what I'm seeing," the bank chief said, adding that he wanted details about who was being taken in Immigration and Customs Enforcement raids.

Procter & Gamble modestly beat Wall Street's earnings expectations in the second fiscal quarter this morning, but revenue narrowly missed analysts' consensus forecast. Shares slid 1.5% in premarket trading.

The Gillette and Downy parent said its net income fell from the same period a year ago but reported a 1% increase in net sales. The Ohio-based company lowered its outlook for fiscal 2026, citing higher restructuring charges.

Elsewhere on the earnings front, we're watching for reports from Intel and Alaska Air due today after the bell.

YouTube has a resolution for 2026: reduce "AI slop" on the Google-owned video platform.

In his annual letter published yesterday, YouTube CEO Neal Mohan said managing artificial intelligence-generated content and detecting deepfakes are priorities for the platform this year. "It's becoming harder to detect what's real and what's AI-generated," Mohan wrote.

As CNBC's Jennifer Elias reports, those comments come as Google continues to invest heavily in AI infrastructure while building out its Gemini models and adding more AI features to its products.