5 things to know before the stock market opens on Monday

Happy Monday. This weekend, the New York Knicks won the NBA championship for the first time in more than half a century. Meanwhile, another sports franchise in Manhattan, my recreational soccer team, learned that we didn’t make the playoffs.

Stock futures are up this morning after a strong week for all three major averages.

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

President Donald Trump announced last night that the United States and Iran have reached a deal to end the war and that the Strait of Hormuz will reopen on Friday. The text of the agreement, which Pakistan Prime Minister Shehbaz Sharif said he would sign in Switzerland on Friday, has not been made public.

Oil prices fell below $80 for the first time since March on news that the Strait would reopen and the US would lift its naval blockade of Iranian ports. Before the conflict began, around 20% of the world’s oil supplies passed through the vital waterway.

Stock futures also soared, Futures linked to the Dow Jones Industrial Average By the bell, I was up nearly 500 points. Follow live market updates here.

space x Friday’s historic stock debut sent the stock up more than 19%, pushing Elon Musk’s rocket company’s market cap to more than $2 trillion. The stock price opened at $150 per share, up about 11% from the IPO price of $135, but well below previous indications.

Here’s what you need to know:

Anthropic announced Friday that it has disabled access to recently released Fable 5 and Mythos 5 models. The artificial intelligence startup said it was complying with government export control directives citing “national security authorities.”

The company said the order, received Friday evening, directs it to stop access to the model by “any foreign national, including Anthropic’s foreign employees, whether in the United States or abroad.” Anthropic said it has disabled the model for all customers to ensure compliance.

As CNBC’s Ashley Caputo points out, Anthropic announced the release of the model earlier in the week following concerns about the Mythos’ advanced cybersecurity features. The company said it could make its powerful model available to the public thanks to new safeguards that block responses in certain areas.

About a year ago, CEO Mark Zuckerberg hired Alexander Wang to pivot Meta’s AI efforts. Now, the onus is on Zuckerberg to make it economically worthwhile. As CNBC’s Jonathan Bunyan and Julia Boorstin report, Zuckerberg must show that his company’s AI tools can not only power its core advertising business but also attract paying users.

Meta’s entry into its own foundational model has brought the company back into the AI ​​space, but parent company Facebook still lags behind Anthropic, OpenAI, and Google in this space. Developers and Wall Street aren’t sure the company can catch up. The company’s stock price has underperformed mega-cap tech stocks over the past year, down 18%.

JetBlue may already be Fort Lauderdale, Fla.’s largest airline, but that doesn’t mean it’s slowing down.

As CNBC’s Leslie Josephs reports, the airline has plans to expand further in the market after Spirit Airlines’ bankruptcy. JetBlue has a 36% market share based on capacity at Fort Lauderdale-Hollywood International Airport, an additional 5% increase from May to June.

The airline plans to expand its international destinations and premium services at Fort Lauderdale-Hollywood, which JetBlue President Marty St. George called the airline’s “stars.”

Here’s what we’re looking at during Holiday Shortened Trading Week:

Tuesday: May housing starts and building permit data Wednesday: carmax Income (before the bell). May retail sales data. Federal Reserve Board Decision Friday: Stock Market Closed June 10th

— CNBC’s Terry Cullen, Chloe Taylor, Garrett Downs, Anique Bao, Emma Graham, Spencer Kimball, Laura Kolodny, Jordan Nove, Tobias Burns, Robert Frank, Jennifer Elias, Sean Conlon, Jonathan Vanian, Julia Borstein and Leslie Josephs contributed to this report.

CJ Haddad helped produce this newsletter. Josephine Rozzelle edited this version.