Trump sues JPMorgan, Intel's soft guidance, TikTok's joint venture and more in Morning Squawk
Here are five key things investors need to know to start the trading day.
TL;DR
- Inflation data, specifically the personal consumption expenditures price index, met expectations at 2.8% for both headline and core readings but remains above the Federal Reserve's 2% target.
- Markets rebounded on news of President Trump canceling tariffs and announcing a "framework" for a Greenland deal, though futures indicate a potential pause.
- President Trump is suing JPMorgan Chase and CEO Jamie Dimon for $5 billion, alleging politically motivated closure of his accounts.
- Intel exceeded fourth-quarter expectations but issued soft guidance for the current quarter, causing its shares to drop due to supply constraints.
- TikTok has formed a joint venture to continue operating in the U.S. under a new CEO and a majority American board.
- European leaders are seeking further details on President Trump's "framework" deal concerning Greenland, with concerns about sovereignty raised.