U.S. President Donald Trump speaks on the day he announces energy infrastructure projects in Alaska, in the Oval Office of the White House in Washington, DC, on September 30, 2026.
Kevin Lamarque | Reuters
Hello, my name is Justina Lee from Singapore. Welcome to another edition of CNBC’s Daily Open.
Traders continue to closely monitor developments in the Middle East amid concerns that U.S. energy prices will rise further after U.S. President Donald Trump said a ban on diesel exports is still “under consideration,” while concerns about an impasse in U.S.-Iran peace talks.
The Pentagon is drawing on the expertise of notable figures including Tesla Inc. and SpaceX CEO Elon Musk to identify military capabilities, technologies and weapons the United States may need in future wars.
As the AI race progresses, Google announced its most advanced AI model, Gemini 4 Argon.
What you need to know today
Investors are closely monitoring developments in energy supplies after President Donald Trump said he was still “considering” a ban on diesel exports, which the U.S. oil industry has warned would pressure refineries to cut production and ultimately lead to higher domestic energy prices.
The price of diesel, a critical energy backbone for core U.S. industries, has soared to record highs amid the conflict between Iran and Ukraine, which has disrupted global energy flows.
“That means there are a lot of disruptions, but U.S. refiners are operating at record high levels,” Energy Secretary Chris Wright said. “And we’re going to hear announcements from our friends in Europe that there’s going to be new diesel supplies coming into the market, and that’s going to push diesel prices down in a meaningful way.”
In the Middle East, amid news that peace talks between the United States and Iran have stalled, there is growing concern that a permanent solution to the Iranian conflict may be delayed. According to the Times of Israel, US President Donald Trump said “the time has come” to make a deal with Iran or “maybe blow it up.”
In the midst of a global conflict, the Department of Defense is trying to prepare for war. Tesla and SpaceX CEO Elon Musk, defense technology entrepreneur and Anduril co-founder Palmer Lackey, and former House Speaker Newt Gingrich have been asked to identify military capabilities, technologies and weapons the United States may need in a future war, Defense Secretary Pete Hegseth said Wednesday.
On the market, U.S. futures edged higher as traders focused on the start of a new trading month and braced for employment data later this week. Futures tracking the Dow Jones Industrial Average rose 99 points, or 0.2%. S&P 500 futures rose about 0.3% and Nasdaq 100 futures rose 0.2%. Asian markets opened mixed on Thursday.
Traders are also digesting comments from Minneapolis Fed President Neel Kashkari, who said in an exclusive interview with CNBC that “inflation remains too high.” He also said the labor market was “pretty good” but not “great.”
Meanwhile, competition in artificial intelligence continues to intensify. Google announced Gemini 4 Argon, its most advanced AI model. This is said to bring significant improvements to complex professional tasks, coding, and cybersecurity.
The company plans to launch new models in phases, starting with trusted cybersecurity partners, while working with the U.S. government to conduct pre-launch safety assessments.
—Justina Lee
And finally…
David Ellison names Inon Kreiz co-CEO of Paramount and Warner Bros. Discovery
Paramount Skydance CEO David Ellison announced Wednesday that he will appoint outgoing Mattel CEO Inon Kreitz as co-CEO of the anticipated merger of Paramount and Warner Bros. Discovery.
The two will lead as “one team,” with Kreitz responsible for managing the media company, according to a press release. Mr. Kreitz will become co-CEO and will join the company’s board of directors upon completion of the merger.
“Mr. Ellison will focus on the company’s long-term strategy, creative vision and direction, including talent relationships, strategic partnerships, technology and capital allocation,” Paramount said in a release. “Mr. Kreitz will focus on the day-to-day management of the company and the integration of the combined business.”
—Catriona Marangi
