This is CNBC's Morning Squawk newsletter.Subscribe hereto receive future editions in your inbox.
Happy Thursday. "Euro summer" might have cost some travelers a pretty penny this week: Hotel and short-term rental pricessurged around yesterday's rare solar eclipse.
Stock futuresare slightly higher this morning after amixed sessionfor Wall Street.
Here are five key things investors need to know to start the trading day:
While the headline reading of yesterday's consumer price ticked modestly higher in July, the pace of annual growthcooled slightly.That was seen asgood news for the Federal Reserve, leading traders to reduce wagers that the central bank will hike rates in September.
Despite raising full-year guidance,Cerebrasissuedworse-than-expected revenuefor the second quarter. Investors sent shares of the chipmaker plunging 15% in extended trading.
CEO Andrew Feldman told CNBC that artificial intelligence demand is "through the roof" and that firms are willing to pay for Cerebras' specialty inference chips. Feldman said that gross margins are growing given that fast inference "is priced at a premium."
Meanwhile,Ciscobeat Wall Street's expectations on both lines andgave a rosy revenue forecast.Still, shares slipped 5.9% before the bell.
A media outlet and non-profit group are taking President Donald Trumpto court.Their focus: The Truth API service recently rolled out byTrump Media & Technology Group.
In the suit, The Intercept Media and the Freedom of the Press Association slam Truth API — which allows faster access to posts on Truth Social for paid users —as "extraordinary, corrupt, and unconstitutional." Interim Trump Media CEO Kevin McGurn said this week that it has inked more than 10 customer agreements for the API in a cost range of between $60,000 and $100,000 a month.
Truth API is one of several variablesworrying advocates of retail investors. They are fearful that the service, along with potential changes to corporate earnings and Fed communication, could leave small traders in the dark.
Get Morning Squawk directly in your inbox
CNBC's Morning Squawk recaps the biggest stories investors should know before the stock market opens, every weekday morning.
Subscribe here to get access today.
Meanwhile, a pair of prominent Democrats is pushing Trump for clarity on his investments.
In a letter obtained by CNBC, Massachusetts Sen. Elizabeth Warren and California Rep. Robert Garcia asked Trumpto disclose the money managersthat he says manage his holdings. They also asked for information on Trump's involvement in or awareness of trades that can potentially overlap with his government role.
As CNBC'sKevin Breuningernotes, the letter provides a view into how Democrats are readying to investigate Trump if they can regain even partial control of Congress following the November elections. Trump told CNBC last month that he doesn't talk to the funds that manage his fortune.
Big news for Los Angeles Lakers fans: Mark Waltersold his majority equityto Joshua Kushner and Bob Iger. The deal places the team's value at $12.5 billion, according to a source familiar with the matter.
Walter's sale comes less than a year after he purchased the controlling stake. When Walter acquired the Lakers, the team had a valuation of $10 billion.
Walter is also part of a group of investors who owns the Los Angeles Sparks in the WNBA. However, his sale only includes the Lakers stake, the source said.
Ship traffic in the Strait of Hormuz hasfallen near three-monthlows amid continued tensions between the U.S. and Iran. Here's where transit volume has sat during the conflict:
—CNBC's Jeff Cox, Fred Imbert, Kif Leswing, Ari Levy, Kevin Breuninger, Alex Sherman, Jessica Golden, Spencer Kimball and Deena Zaidi contributed to this report.
Fred Imbert edited this edition.
