5 things to know before the stock market opens on Monday

More oil tankers in the Middle East have been hit in recent days as Iran refuses to change the terms of reopening the Strait of Hormuz. Attacks on ships in shipping lanes have continued in recent weeks, giving investors reason to doubt that global oil trade can recover in the near future.

Here’s what you need to know:

Britain’s Maritime Trade Operations Center said at least two ships were attacked by unknown projectiles on Friday and Sunday in waters near Oman and Iran. G7 countries agreed on Friday to “significantly” release diesel stocks to curb rising fuel costs, as the Iran war and Ukraine’s attack on a Russian refinery spark a fuel supply crisis. Meanwhile, OPEC+ yesterday agreed to keep its November oil production target unchanged. Oil prices fell on Friday following the G7 announcement, marking a negative week. Brent and U.S. crude prices were little changed this morning, with the former still trading above $100 a barrel. Despite falling oil prices and Friday’s rise in stock prices. Dow Jones Industrial Average and S&P500 Last week also ended in the red. Follow us here for live market updates.

Big tech companies have been betting on artificial intelligence-powered wearables, such as glasses and rings, to establish themselves in the consumer hardware space. However, for some users, this technology has become outdated.

As CNBC’s Samantha Subin reports, smart products that can discreetly record audio and video are increasingly facing privacy concerns. For example, some social media users have called out: metaIt was reported that Ray-Ban’s “Hentai Glasses” smart glasses were being photographed and recorded without permission.

The wearables market stumbled again last week when smart ring maker Oura postponed its IPO, citing “IPO market uncertainty.” But some analysts are skeptical that’s the real reason, with Anshel Sugg, principal analyst at Moore Insights & Strategy, saying, “We really believe there are other reasons for people to pull out of IPOs. I don’t think it’s the market’s fault.” “I have no idea what that is.”

Over the past few years, Chick-fil-A has expanded its reach away from its southeastern base. Still, CEO Andrew Cathy strives to ensure the growing fast-food chain remains a family-run business.

“We still think about our purpose and our mission, but everything else needs to evolve and allow us to change,” Kathy, who took over from her father five years ago, told CNBC. For example, he said Chick-fil-A will not use AI in its drive-thru lanes and will emphasize “human-to-human” hospitality while industry rivals are introducing new technology.

As CNBC’s Amelia Lucas reports, the private company has no plans to go public or welcome outside investment. Kathy said the Atlanta-based company had a “good year” despite competitors reporting weaker traffic trends.

Sports betting is growing in popularity among Gen Z. Financial and mental health experts are sounding the alarm.

According to a study released in August, about two-thirds of Gen Z investors participate in sports betting. Another study found that this group is more likely to view sports betting as a type of investment, even though the average user of a sportsbook or prediction market loses money. It leads to financial repercussions and some people end up becoming addicted to trying to climb out of the hole.

Meanwhile, Novig, a new entrant into the prediction market, credits the controversial Just Sports campaign starring Sidney Sweeney as a key growth driver. Co-founder Jacob Fortinsky told CNBC that in the 20 days before and after the campaign, Novig’s trading volume nearly doubled and the number of first-time depositors increased by more than 200%.

As consumer-facing companies seek to increase engagement with their locations, brands such as: elf to wendy’s to gap Currently active mainly in original songs.

Elf released an album last month titled “Mirror Mix,” and Wendy’s shared an emo album called “Wendy’s Parking Lot Songs.” Gap has debuted a partnership with boy band Just Your Type under its new “Fashiontainment” platform.

As CNBC’s Catriona Marangi writes, music is one marketing strategy that can cater to Gen Z shoppers who want brands to be culturally relevant. This becomes even more important as younger consumers increase their purchasing power.

Here’s what we’re looking at this week:

—CNBC’s Azhar Shukri, Terry Cullen, Sam Meredith, Spencer Kimball, Samantha Subin, Luke Fountain, Amelia Lucas, Davis Giangiulio, Ananya Chettiar and Catriona Marangi contributed to this report.

Caleigh Keating helped produce this newsletter. Josephine Rozzelle edited this version.