A Dick’s Sporting Goods logo is displayed outside one of their stores on October 10, 2025 in San Diego, California.
Kevin Carter | Getty Images
This is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.
Here are five key things investors need to know to start the trading day:
1. Checking out
A number of retail giants reported earnings this morning, offering the latest reading on the consumer in the run-up to Black Friday. The releases follow last week’s slew of retail earnings.
Here’s the latest reports:
2. AI’s leaderboard
A Broadcom sign is pictured as the company prepares to launch new optical chip tech to fend off Nvidia in San Jose, California, U.S., September 5, 2025.
Brittany Hosea-small | Reuters
3. Off the docket
FILE PHOTO: Former FBI Director James Comey testified in front of the Senate Intelligence Committee in the Senate Hart building on Capitol Hill, on Thursday, June 8, 2017.
Cheriss May | Nurphoto | Getty Images
Senior U.S. District Judge Cameron Currie threw out criminal cases against former FBI Director James Comey and New York Attorney General Letitia James yesterday.
Currie said Lindsey Halligan, the interim U.S. attorney who led the indictments, was invalidly appointed. Both cases were dismissed “without prejudice,” meaning the charges could be filed again.
The rulings mark a loss for President Donald Trump, who pressured Attorney General Pam Bondi to take action against his political foes. White House spokeswoman Abigail Jackson told CNBC that “this will not be the final word on this matter.”
4. Amazon’s next frontier
People walk past the logo of Amazon Web Services (AWS) at its exhibitor stall at the India Mobile Congress 2025 at Yashobhoomi, a convention and expo center in New Delhi, India, October 8, 2025.
Anushree Fadnavis | Reuters
Amazon became the latest tech company to throw eye-popping sums behind AI buildout initiatives. The e-commerce giant said it will invest as much as $50 billion to expand its capacity to provide AI and high-performance computing capabilities for its cloud unit’s U.S. government customers.
The project is expected to begin in 2026 and will add close to 1.3 gigawatts of capacity. With the investment, government clients will also have access to Anthropic’s Claude models and Nvidia chips, in addition to Amazon hardware and software.
Also yesterday, Amazon said it will let businesses test its internet-from-space service, which was recently renamed Leo from Project Kuiper. As CNBC’s Annie Palmer notes, the product competes with SpaceX’s Starlink.
5. Power play
William Nylander #88 of the Toronto Maple Leafs celebrates with teammates after scoring a goal against the Boston Bruins during the third period in Game Seven of the First Round of the 2024 Stanley Cup Playoffs at TD Garden on May 04, 2024 in Boston, Massachusetts.
Maddie Meyer | Getty Images
CNBC Sport is out this morning with its new NHL team valuations for 2025. The average franchise has seen its value rise 15% to $2.2 billion, driven by pricier media rights deals.
The Toronto Maple Leafs remained at the front of the pack with a valuation of $4.3 billion, up 8% from last year. The New York Rangers is the runner-up, rising by 9% year over year to $3.8 billion.
The Daily Dividend
Microsoft faced vocal community opposition to a data center plan in Caledonia, Wisconsin, leading the tech giant to scrap its plans and look elsewhere. CNBC’s Jordan Novet broke down the local reaction.
“We did seem to have awoken a sleeping giant.”
Fran Martin
Caledonia trustee
— CNBC’s Gabrielle Fonrouge, Sean Conlon, Pia Singh, Dan Mangan, Kevin Breuninger, Annie Palmer, Yun Li, Michael Ozian and Jordan Novet contributed to this report. Terri Cullen edited this edition.
