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Hello, this is Leonie Kidd with today's edition of Morning Squawk.
Nvidia is dominating the headlines, but it's not holding back the bulls.
A solid rally across Wall Street, driven by some of the big chip names, came against a backdrop of serious concerns over the future of Jensen Huang's leadership and what that means for the AI behemoth.
But the devil remains in the details...
There are some key developments in the Nvidia scandal, as the AI giant could now face an FBI investigation into CEO Jensen Huang's conduct.
President Donald Trump said during a press conference in the White House on Monday that he had spoken to Huang and that the CEO had denied knowing the woman he was having an affair with "was a spy" for China. "I know the FBI is looking into it," Trump also said.
Nvidia shares are trading higher premarket , up by around 1% after falling over 4% on Monday.
Chip stocks are mixed in premarket trading after that blistering rally on Monday.
Broadcom and AMD led the biggest gains, alongside Magnificent 7 names like Amazon , Alphabet , Tesla and Microsoft .
Later today, neocloud group CoreWeave will publish earnings. CNBC's Seema Mody will be watching to see whether there is an Nvidia impact, as one of the company's largest shareholders has been hands-on in setting strategy.
Nvidia sat out a rally on Wall Street that saw the S&P post its best session since April, the Dow add over 1,000 points and the Nasdaq jump 2%.
Lower oil prices helped drive gains across major markets, with Brent and WTI continuing those declines this morning. Brent has dipped below $90 per barrel for the first time since August.
Investors can watch out for a key inflation reading on Tuesday, when the October consumer price index report is released at 8:30 a.m. ET.
Estimates show a headline growth rate of 0.3% and 0.2% for core.
CNBC's Morning Squawk recaps the biggest stories investors should know before the stock market opens, every weekday morning.
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A Republican representative has made the rare move to make an impeachment push against a member of his own party.
Rep. Thomas Massie, R-Ky, has introduced articles of impeachment against Defense Secretary Pete Hegseth, prompting a vote in the House of Representatives as early as this week.
FDA warns of vision loss risk linked to popular GLP-1 drugs
The U.S. Food and Drug Administration is requiring new safety warnings on all GLP-1 drugs after finding evidence of a potential increased risk of a rare eye condition, the agency said on Monday.
Nonarteritic anterior ischemic optic neuropathy (NAION), which can cause sudden vision loss, is rare, and a causal relationship has not been established.
The FDA is requiring the makers of all GLP-1 medications to add a warning about the potential increased risk of NAION associated with use of these medications, it said.
— CNBC's Dan Mangan, Laya Neelakandan, Annie Palmer, Jordan Novet, Jeff Cox, Alex Harring, Elsa Ohlen and Garrett Downs contributed to this report.
Jack Sommers and John Melloy edited this edition.
