<div id="readability-page-1"><span></span><div><p><em>This is CNBC's Morning Squawk newsletter. </em><em>Subscribe here</em><em> to receive future editions in your inbox.</em></p><p>Happy Thursday. Don't miss an exclusive interview with Prometheus Co-Founders &amp; Co-CEOs Jeff Bezos and Vik Bajaj at 10 a.m. ET. Watch the interview live from the startup's San Francisco headquarters on CNBC or CNBC+.</p><p>Stock futures are rising this morning after all three major indexes dropped more than 1% yesterday.</p><p>Here are five key things investors need to know to start the trading day:</p></div><h2>1. On attack</h2><div id="ArticleBody-InlineImage-108319696"><div><div><p>US President Donald Trump speaks during a signing ceremony for the &#34;Secure America Act&#34; in the Oval Office of the White House in Washington, DC, US, on Wednesday, June 10, 2026. </p><p>Aaron Schwartz | Bloomberg | Getty Images</p></div></div></div><div><p>U.S. Central Command said last night that the U.S. struck multiple targets in Iran at the direction of President Donald Trump, who earlier in the day told reporters that the U.S. would be attacking Tehran &#34;very hard.&#34; Those comments sent the stock market tumbling in Wednesday's session, resulting in the <span id="SpecialReportArticle-QuoteInBody-6">Dow Jones Industrial Average<span><span id="-WatchlistDropdown"></span></span></span>'s worst day of the year.</p><p>Here's what to know:</p><ul><li>Iranian state media reported this morning that Iran struck targets in Kuwait and Bahrain belonging to U.S. forces following the American strikes.</li><li>Despite the apparent escalation in hostilities, oil prices are lower this morning. </li><li>As CNBC's Kevin Breuninger reports, stocks and oil markets seem to keep believing Trump's claims that a deal to end the war is close — even though those claims have repeatedly failed to come to fruition.</li><li>Trump, meanwhile, said yesterday that lower oil prices were the result of the U.S. secretly moving more than 100 million barrels of oil through the Strait of Hormuz.</li><li>Stock futures are higher before the bell as chip stocks attempt to stage a rebound. Follow live market updates here.</li></ul></div><h2>2. A love-hate relationship</h2><div id="ArticleBody-InlineImage-108307154"><div><div><p>A customer shops at Handy Market on May 14, 2026 in Burbank, California. </p><p>Justin Sullivan | Getty Images</p></div></div></div><div><p>Consumer prices rose at their highest annual rate in three years last month, according to a government index released yesterday. Energy and airfare were among the areas that saw the biggest jumps on the year.</p><p>But Trump brushed off the data, saying &#34;I love the inflation&#34; and that it would &#34;come down like a rock&#34; after the Iran war ends. As CNBC's Matt Peterson writes, Trump's surprising comments may be good news for newly minted Federal Reserve Chair Kevin Warsh.</p><p>Market watchers will get more inflation data at 8:30 a.m. ET with the release of May's producer price index, which tracks wholesaler inflation. Economists polled by Dow Jones expect the headline number to rise 0.7% on the month.</p></div><h2>3. Money is everything</h2><div id="ArticleBody-InlineImage-108275546"><div><div><p>A trader works as a screen shows the logo and trading information for Oracle on the floor at the New York Stock Exchange, March 9, 2026.</p><p>Brendan McDermid | Reuters</p></div></div></div><div><p><span id="SpecialReportArticle-QuoteInBody-16">Oracle<span><span id="-WatchlistDropdown"></span></span></span> exceeded Wall Street's expectations on both lines for the fourth fiscal quarter and upped its profit outlook yesterday. But the stock tumbled 8% in extended trading after the software company said it needs to raise money for its artificial intelligence buildout.</p><p>Oracle said it plans to bring in an additional $20 billion of equity and debt, on top of the tens of billions of dollars it has already raised in the 2026 fiscal year. As CNBC's Jordan Novet notes, the fundraising plans heightened investor concern over whether there's enough AI demand to justify that much new capital.</p><p>With its move overnight, Oracle's stock is at risk of falling into the red for the year. Shares were up about 3% in 2026 as of Wednesday's close, trailing the S&amp;P 500's roughly 6% gain in the same period.</p></div><div><div id="SpecialReportArticle-RelatedContent-1"><div><div><h2>Get Morning Squawk directly in your inbox</h2><div><p>CNBC's Morning Squawk recaps the biggest stories investors should know before the stock market opens, every weekday morning.</p><p>Subscribe here to get access today.</p></div></div></div></div></div><h2>4. Checking engines</h2><div id="ArticleBody-InlineImage-108319809"><div><div><p>People outside the SpaceX facility ahead of the company's initial public offering (IPO), in Starbase, Texas, U.S.  May 18, 2026.  </p><p>Gabriel V. Cardenas | Reuters</p></div></div></div><div><p>Sen. Elizabeth Warren wants to halt SpaceX's takeoff. The Massachusetts Democrat on Wednesday called on regulators to delay the company's IPO scheduled for tomorrow over concerns about its valuation and corporate governance.</p><p>In a letter to the Securities and Exchange Commission, Warren said there could be &#34;inaccurate or misleading&#34; accounting and valuation tied SpaceX's recent acquisition of xAI, another company led by Elon Musk. Warren also said Musk has &#34;uniquely unchecked&#34; power as SpaceX's majority shareholder.</p><p>Perpetual futures traders are signaling that the stock could be in for a double-digit move higher on its first trading day. Options for SpaceX will begin trading next week.</p></div><h2>5. Tokenizing</h2><div id="ArticleBody-InlineImage-108319545"><div><div><p>Alex Karp, Co-founder and CEO of Palantir, speaking with CNBC in New York, on June 10th, 2026. </p><p>CNBC</p></div></div></div><div><p><span id="SpecialReportArticle-QuoteInBody-21">Palantir<span><span id="-WatchlistDropdown"></span></span></span> CEO Alex Karp told CNBC yesterday that the company's enterprise customers are &#34;unhappy&#34; with leading AI labs. </p><p>He said clients don't believe the labs understand their businesses and are instead focused on &#34;tokenmaxxing,&#34; a term describing the act of running through AI tokens to show productivity. Karp also claimed that most public projects from AI leader Anthropic are &#34;running on Palantir.&#34;</p><p>Watch Karp's full interview with CNBC's Sara Eisen here.</p></div><h2>The Daily Dividend</h2><p>Sixteen colleges and universities will have a sticker price above $100,000 next school year, according to data from The Princeton Review exclusively shared with CNBC. Here are the most expensive:</p><div><p>—<em> CNBC's Luke Fountain, Garrett Downs, Lim Hui Jie, Sean Conlon, Spencer Kimball, Kevin Breuninger, Jeff Cox, Matt Peterson, Jordan Novet, Tanaya Macheel, Tyler Bailey, Samantha Subin and Jessica Dickler contributed to this report.</em></p><p><em>CJ Haddad assisted in the production of this newsletter. Josephine Rozzelle edited this edition.</em></p></div><div><p>Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.</p></div></div>

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<p>U.S. strikes in Iran escalate hostilities, though oil prices fall as markets anticipate a deal. Consumer inflation hit a three-year high, prompting Trump's dismissive comments. Oracle shares dropped 8% after announcing a $20 billion fundraising plan for AI expansion. Meanwhile, Senator Warren urged regulators to delay SpaceX's IPO due to governance concerns, and Palantir's CEO discussed tokenization.</p>

- U.S. stock futures are rising after a significant market drop following President Trump's military actions in Iran.  
- Consumer prices have surged, but Trump remains optimistic, stating inflation will decrease post-war, while Oracle's stock fell after announcing a need for further capital to fund AI initiatives.  
- Senator Elizabeth Warren is urging a delay on SpaceX's IPO amid concerns over its valuation and governance due to Elon Musk's influence.

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U.S.-Iran hostilities escalate, Oracle's fundraising plans, $100,000 colleges and more in Morning Squawk