<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 Wednesday. CNBC's Andrew Ross Sorkin will sit down with <span id="SpecialReportArticle-QuoteInBody-2">Amazon's<span><span id="-WatchlistDropdown"></span></span></span> Jeff Bezos at the Blue Origin Rocket Factory in Florida this morning. Watch the exclusive interview live at 8 a.m. ET here.</p><p>Stock futures are higher this morning after a down day on Wall Street.</p><p>Here are five key things investors need to know to start the trading day:</p></div><h2>1. Shifting interest</h2><div id="ArticleBody-InlineImage-108306443"><div><div><p>Traders work at the New York Stock Exchange on May 13, 2026. </p><p>NYSE</p></div></div></div><div><p>Investor attention homed in on interest rates yesterday, as the <span id="SpecialReportArticle-QuoteInBody-6">30-year U.S. Treasury<span><span id="-WatchlistDropdown"></span></span></span> yield touched levels not seen since before the Global Financial Crisis. The surge in yields prompted a stock sell-off and raised alarm that a rate hike could be on the horizon.</p><p>Here's what to know:</p><ul><li>The longer-dated 30-year yield briefly hit 5.197%, its highest level since July 2007.</li><li>Rising Treasury yields spilled over into the housing market: The average mortgage rate on a 30-year fixed loan reached its highest level since last July.</li><li>Prediction market traders see a growing likelihood of the Federal Reserve increasing interest rates to combat the bond market's dramatic action.</li><li>Those rising fears of tighter monetary policy led to downward pressure on the <span id="SpecialReportArticle-QuoteInBody-10">S&amp;P 500<span><span id="-WatchlistDropdown"></span></span></span>, which saw its third straight negative session.</li><li>Investors are increasingly worried that rising bond yields, in combination with spiking oil prices, could put the bull market at risk.</li><li>Follow live market updates here.</li></ul></div><h2>2. Target-ing a turnaround</h2><div id="ArticleBody-InlineImage-108301649"><div><div><p>People exit a Target store on Black Friday in Brooklyn, New York, U.S., Nov. 29, 2024.</p><p>Brendan McDermid | Reuters</p></div></div></div><div><p><span id="SpecialReportArticle-QuoteInBody-14">Target<span><span id="-WatchlistDropdown"></span></span></span> beat Wall Street's top- and bottom-line expectations for the first quarter this morning, reporting a 5.6% increase in same-store sales — its first positive number for the key metric in five quarters. The retailer also hiked its revenue outlook for the full year, helping shares rise in premarket trading.</p><p>The better-than-expected report comes as Target attempts to win back shoppers and reverse a sales slump. CEO Michael Fiddelke told reporters that &#34;we know our work is just beginning, and we have confidence we're on the right path because guests are responding in areas where we are leaning in and driving change.&#34;</p><p>Target wasn't only retailer beating expectations today. <span id="SpecialReportArticle-QuoteInBody-16">Lowe's<span><span id="-WatchlistDropdown"></span></span></span> also topped analysts' revenue and earnings estimates amid what CEO Marvin Ellison called a &#34;challenging housing macro.&#34; Shares of the home improvement retailer are 2% lower before the bell, despite the positive report.</p></div><h2>3. Eye spy</h2><div id="ArticleBody-InlineImage-108309313"><div><div><p>Shahram Izadi, general manager and vice president of Android XR at Google, during the Google I/O Developers Conference in Mountain View, California, US, on Tuesday, May 19, 2026. </p><p>David Paul Morris | Bloomberg | Getty Images</p></div></div></div><div><p><span id="SpecialReportArticle-QuoteInBody-18">Google<span><span id="-WatchlistDropdown"></span></span></span> announced at its annual developer conference yesterday that it's rolling out a new version of Gemini called 3.5 Flash, a lighter-weight artificial intelligence model that CEO Sundar Pichai said its cheaper than comparable products. The company also unveiled a new general-purpose AI agent and a new world model designed to simulate real-world environments. </p><p>On the hardware front, Alphabet gave a first look at its audio smart glasses coming later this year. The Big Tech company teamed up with Samsung, as well as glasses makers <span id="SpecialReportArticle-QuoteInBody-21">Warby Parker<span><span id="-WatchlistDropdown"></span></span></span> and Gentle Monster, for the products.</p><p>Elsewhere in the AI race: Andrej Karpathy, an OpenAI co-founder and former <span id="SpecialReportArticle-QuoteInBody-22">Tesla<span><span id="-WatchlistDropdown"></span></span></span> leader, said he is joining Anthropic. The AI startup said Karpathy will work on its pretraining team tasked with helping Claude acquire core knowledge and capabilities.</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. You-turn</h2><div id="ArticleBody-InlineImage-108236700"><div><div><p>Stellantis CEO Antonio Filosa speaks during an event in Turin, Italy, Nov. 25, 2025.</p><p>Daniele Mascolo | Reuters</p></div></div></div><div><p><span id="SpecialReportArticle-QuoteInBody-24">Stellantis<span><span id="-WatchlistDropdown"></span></span></span>' stock is lagging under CEO Antonio Filosa. But as CNBC's Michael Wayland reports, Filosa has a plan to turn the automaker around.</p><p>Filosa – who became CEO last June – and his team will unveil their plan to put the Jeep and Ram back on track tomorrow. They're expected to focus on which brands are thriving in different regions, while also laying out how they will cut costs and return to profitability.</p><p>But investors aren't exactly confident heading into the event. In addition to industry-wide concerns around tariffs and rising competition from China, Stellantis has had to grapple with dwindling market share and fallout from its pivot away from electric vehicles.</p></div><h2>5. Hunting technique</h2><div id="ArticleBody-InlineImage-108192098"><div><div><p>Dima Berlin | Istock | Getty Images</p></div></div></div><div><p>Have you ever spent hours scrolling through job listings? As CNBC's Sophie Caldwell writes, there's now a term for that: &#34;doomjobbing,&#34; a combination of doomscrolling and job hunting.</p><p>Some hunters are continuously refreshing job boards and quickly firing off applications to open listings. A March survey found nearly half of job seekers prioritized speed and volume rather than selectivity.</p><p>But this strategy can intensify feelings of anxiety and hinder a job search. Rather than mass applying to roles, career coach Eliana Goldstein told CNBC that applicants should use the time to network and develop their personal brands. </p></div><h2>The Daily Dividend</h2><p>President Donald Trump said he was close to making a decision on whether to strike Iran before several Middle Eastern leaders asked him to postpone the military attack planned for Tuesday. As he told reporters yesterday:</p><blockquote><div><div><p>I was an hour away from making the decision to go today.</p></div></div></blockquote><div><p>—<em> CNBC's John Melloy, Yun Li, Liz Napolitano, Diana Olick, Davis Giangiullio, Laya Neelakandan,</em> <em>Jennifer Elias, Ashley Capoot, Lora Kolodny, Michael Wayland, Sophie Caldwell and Kevin Breuninger</em> <em>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>In today's Morning Squawk, key highlights include a surge in 30-year U.S. Treasury yields, prompting concerns over potential interest rate hikes and a stock sell-off. Target reported a 5.6% increase in same-store sales, beating expectations, while Google unveiled new AI developments. Stellantis plans a turnaround strategy under CEO Antonio Filosa, and the term 'doomjobbing' has emerged for job seekers constantly refreshing listings.</p>

- Stock futures are rising after a previous decline on Wall Street, with investors focused on soaring interest rates that drove a sell-off.  
- Target reported its first increase in same-store sales in five quarters, while Stellantis prepares to unveil a turnaround strategy amidst market share concerns.  
- In tech, Google introduced new artificial intelligence models and upcoming smart glasses, while job seekers face anxiety from a "doomjobbing" trend, prioritizing quantity over quality in applications.

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Treasury yields surge, Target earnings, 'doomjobbing' and more in Morning Squawk