9AM HOUR: U.S.-Iran Effect on Markets, Chevron-Microsoft AI Power Deal, Greenspan Dies at 100 6/22/26

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This episode is brought to you by Schwab Market Update, an original podcast from Charles Schwab. Join host Keith Lansford for this information-packed daily market preview delivered in 10 minutes or less, including projected stock updates, monetary policy decisions and key results and statistics that may impact your trading. Download the latest episode and subscribe at schwab.com or find Schwab Market Update wherever you get your podcasts.

Sara Eisen (0:58)

Market insight and analysis. You're listening to the opening bell of CNBC's Squawk on the Street.

Carl Quintanilla (1:11)

Good Monday morning, welcome to Squawk on the Street. I'm Carl Quintanilla with David Faber, Sara Eisen here at Post 9 of the New York Stock Exchange. Cramer has the morning off. Futures off the morning lows as the vice president in Switzerland says meetings with Iran and mediators over the weekend have made good progress. All three major indices coming off two consecutive weekly gains. Oil is backing off below 76, although the two-year yield almost at an 18-month high.

Our roadmap this morning begins with stocks trying for a higher open on those positive Iran talks. Investors gearing up for another busy week of earnings with Micron on Wednesday.

Sara Eisen (1:44)

Plus SpaceX trying to avoid what would be its third straight day of losses. The company also announcing its inaugural bond issuance. Some initiations of coverage on the stock. One says the company possesses significant disruptive growth avenues.

David Faber (2:00)

A look back at the life and legacy of former Federal Reserve Chairman Alan Greenspan, who died today at the age of 100

Carl Quintanilla (2:08)

Let's begin, though, with the markets on track for a higher open after the holiday weekend. Got some constructive headlines regarding the talks in Switzerland after some tense meetings over the weekend. Some trash talk on both sides. More interesting, though, is some of the data about crossings through the strait.

The tape says maybe 6 million barrels crossing on three US sanctioned tankers. And that is definitely getting reflected in oil. This notion that even if it's not, even if it is Iranian oil, it is making its way through the strait.

David Faber (2:38)

It was kind of a confusing weekend of headlines, I would say, because Iranian media was reporting at one time that Iran halted talks over President Trump's threats because President Trump came out pretty strongly, I think, against Iran and its support of the proxies like Hezbollah in Lebanon, which is causing so much, so many problems. But then people familiar said the talks were ongoing. And then the vice president overnight says that there has been great progress in the U.S.-Iran talks despite threatening and whining. Look, I think it's, you know, there are still a lot of question marks that investors have, but so far they're taking it, you know, the benefit of the doubt that as long as there are negotiations ongoing and that the word is that there's progress, that means lower prices of oil and the stock market can continue forward. But it doesn't mean that there aren't big questions, like how are they negotiating Lebanon with Israel not part of the negotiations and Hezbollah not part of the negotiations and Lebanon not part of the negotiations, right? Those are some questions, especially as Iran has said that that is crucial to the deal. But clearly the president wants the straight open.

Sara Eisen (3:42)

Yeah, well, and I was going to add one of the key questions is how open is open? How open is the straight right now? How much is actually getting through? It does appear that the concerns, Carl, that you've mentioned for some time around inventories getting to a very low level and resulting perhaps in an upward jolt in prices may have been one of the reasons why we saw a willingness of the president to negotiate.

But how open is open? I think it remains a key question. Then an interesting story over the weekend. I think it was the Journal around about China and just how much oil they have, which may not have been known to as many in terms of at least their ability to withstand higher prices because actually they've topped up around the around that enormous country.

Carl Quintanilla (4:27)