Trump's market-moving post, the new DHS chief, Gap's AI push and more in Morning Squawk

This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.Happy Tuesday. Turns out there is in fact a markets angle to South Korean boyband BTS's comeback this weekend.Stock futures are little changed this morning after closing yesterday's session higher.Here are five key things investors need to know to start the trading day:President Donald Trump said yesterday that U.S. and Iran held "productive" talks and that both countries want to "make a deal." The president's comments sparked optimism on Wall Street that the market-roiling war could be coming to an end.Here's what to know:The oil market has been volatile since the Iran war began, but Chevron CEO Mike Wirth said yesterday that there may be more upward price pressure on the horizon.Speaking at S&P Global's CERAWeek conference in Houston, Wirth said that he doesn't think the supply disruption from the closure of the Strait of Hormuz is fully priced in. The market is trading on "scant information" and "perception," he said, noting that the physical supply of oil is smaller than futures contracts insinuate.Meanwhile at CERAWeek, Energy Secretary Chris Wright told CNBC that the White House aims to bring more diesel to the market to combat surging fuel prices.

Interior Secretary Doug Burgum also said that Asian countries now want to increase their intake of U.S. energy.Gap and Google are teaming up. CNBC's Gabrielle Fonrouge reported this morning that the retailer will soon offer checkout within Google's Gemini artificial intelligence platform.With the partnership, Gap becomes the first fashion company to work directly with Google on agentic commerce. Shoppers who chose to purchase a product via Gemini will pay through Google Pay, but Gap will oversee shipping and other logistics.The announcement comes as AI products draw shoppers away from traditional search functions, causing retailers to rethink their marketing strategies. "It's not just keyword search anymore, right? It's conversations, and so we need to be relevant to that," Sven Gerjets, Gap's technology chief, told CNBC.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.In a 54-45 vote last night, the Senate confirmed Sen. Markwayne Mullin as the next chief of the Department of Homeland Security.

The Oklahoma Republican succeeds Kristi Noem, who Trump fired earlier this month.Mullin, a former MMA fighter and rancher who has supported Trump's immigration policies, takes the department's helm at a difficult time. DHS is currently shut down as Democrats refuse to support a funding package over immigration enforcement concerns. Pushback against DHS hit a fever pitch after federal immigration officers killed two U.S. citizens in Minneapolis earlier this year.Make room, pickleball. Padel is gaining traction — and funding.The Pro Padel League raised $15 million in a Series A funding round, the league announced this morning. As CNBC's Brandon Gomez and Jessica Golden report, the haul highlights investors' growing interest in another racket-based sport as padel grows its American footprint. The league saw $10 million in seed funding last year.Padel, a mix of tennis and squash, is expected to rapidly win favor in America.

The United States Padel Association predicts there will be 20,000 courts in the country by 2030, up from only a few hundred today.Chicago Federal Reserve President Austan Goolsbee told CNBC's "Squawk Box" yesterday that the U.S. is facing a "fraught but intense moment" due to the U.S.-Iran war.— CNBC's Sam Meredith, Sean Conlon, Lisa Kailai Han, Anniek Bao, Fred Imbert, Yun Li, Spencer Kimball, Gabrielle Fonrouge, Justin Papp, Brandon Gomez, Jessica Golden and Jeff Cox contributed to this report. Josephine Rozzelle edited this edition.Got a confidential news tip? We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services.© 2026 Versant Media, LLC.

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