5 things to know before the market opens on Thursday

Happy Thursday. This day marks the one-year anniversary of the first tariff announcement, which President Donald Trump called “Liberation Day.”

Stock futures are falling this morning. The three major indexes are about to have another winning day.

Here are five important things investors need to know to start their trading day.

President Trump’s prime-time speech on the Iran war last night appears to have done little to appease Wall Street. Stock futures fell, oil prices soared and hopes for a short-term solution faded after the president said the United States would attack Iran “very forcefully” over the next two to three weeks.

Here’s what you need to know:

In a roughly 20-minute speech, President Trump emphasized that the conflict was “very close” to an end. He said the US could deal a “hit” to Iranian oil if a deal is not reached within the next two to three weeks. In particular, Trump made no mention of negotiations or plans to send troops on the ground, seen as a path to ending the conflict, but he acknowledged that Americans are struggling with the highest energy prices in years, blaming the Iranian regime’s “extraordinary terrorist attacks on commercial oil tankers and on neighboring countries that have nothing to do with Iran.” “Stock futures are down following the speech, but oil prices are up about 8% this morning. The stock market is closed tomorrow for Good Friday.” But don’t miss the special edition of March jobs data on CNBC’s “Squawk Box” at 8 a.m. ET. Follow live market updates here.

SpaceX has confidentially filed for its long-awaited IPO, people familiar with the matter told CNBC’s David Faber yesterday. The Elon Musk-led company is now one step closer to what is expected to be a record-setting public market debut.

The confidential filing allows SpaceX to share financial details with the Securities and Exchange Commission before making them available to the public and potential investors. But as CNBC’s Laura Kolodny points out, SpaceX needs to submit its public application at least 15 days before the roadshow.

Bloomberg reported, citing people familiar with the matter, that the company could aim to be valued at $1.75 trillion and go public around June. If SpaceX enters the public market, Mr. Musk will become the first person to run two separate publicly traded companies.

Republican leaders in Congress announced yesterday that they support a two-pronged plan to fund the Department of Homeland Security, effectively backtracking on the Senate plan that House Republicans rejected last week.

The proposal would provide funding for most departments, including the Transportation Security Administration, but would defer discussion on immigration enforcement to a later date. President Trump had said he would start paying TSA workers through an executive order starting this week, but experts say the move is likely funded by a provision of the so-called One Big Beautiful Bill Act.

Eli Lilly The company announced yesterday that it has received approval from the U.S. Food and Drug Administration for its new GLP-1 tablet. This admission begins a conflict with Lily. novo nordisk The market will heat up further as both pharmaceutical giants hope their GLP-1 tablets will boost business in a new frontier of the weight loss drug market.

The company said its once-daily pill, Foundayo, will begin shipping through its direct-to-consumer platform next week and will be available through other platforms thereafter. Those with insurance can use the coupon to pay $25 a month, while those without insurance could pay up to $349.

Eli Lilly CEO Dave Ricks also said in an interview with CNBC that the pharmaceutical giant opposes the White House’s push to codify “most-favoured nation” drug pricing. Ricks said he is concerned that today’s price cuts could lead to a weakened future drug pipeline.

Sam’s Club will increase annual membership fees for the first time since 2022.

of walmartWarehouse Club, which is owned by , announced yesterday that it will increase annual membership fees by $10 starting next month. Basic and advanced memberships cost $60 and $120, respectively.

As CNBC’s Melissa Repko points out, Sam’s Club membership prices remain costcoEven if it increases. In a statement, Sam’s Club cited perks such as expanded hours and improved pickup and delivery options as the reason for the price increase.

Here are some articles we recommend you bookmark for the long weekend.

— CNBC’s Davis Giangiulio, Justin Papp, Dan Mangan, Kevin Bruninger, Garrett Downs, Sean Conlon, Laura Kolodny, Annika Kim Constantino, Angelica Peebles and Melissa Repko contributed to this report. Josephine Rozzelle edited this version.