Trump's address, SpaceX IPO, Sam's Club membership prices and more in Morning Squawk

In today’s financial landscape, several pivotal developments warrant attention as the market gears up for trading. Notably, it's the one-year anniversary of President Donald Trump's tariff announcement, which he referred to as "liberation day." As traders begin their day, stock futures indicate a downturn following another day of gains for the major indices. Last night, President Trump delivered a prime-time address concerning the ongoing conflict with Iran, a speech that has not eased Wall Street's concerns. Following his statement promising a robust U.S. response to Iran over the next few weeks, stock futures fell sharply, while oil prices experienced an increase, curtailing hopes for a swift resolution. In a significant move for the aerospace sector, SpaceX has reportedly filed confidentially for its much-anticipated IPO. This step, confirmed by sources to CNBC, positions Elon Musk's company closer to what could be a record-breaking public offering. The confidential nature of the filing allows SpaceX to discuss its financials with the SEC before making them public. However, the company must still prepare a public filing at least 15 days prior to its investor roadshow. There are speculations that SpaceX could aim for a valuation of approximately $1.75 trillion, with plans to go public around June. If successful, Musk would become the first individual to lead two publicly traded companies valued over a trillion dollars. On the legislative front, Republican leaders announced their support for a dual-track funding strategy for the Department of Homeland Security. This approach resembles the Senate plan previously rejected by the House GOP. The proposal aims to secure funding for essential services, including the Transportation Security Administration, postponing discussions on immigration enforcement to a later date. Trump indicated that TSA agents would receive compensation via an executive order starting this week, a move potentially funded by a segment of the proposed One Big Beautiful Bill Act. In healthcare news, Eli Lilly has announced that its new GLP-1 medication has received FDA approval. This development intensifies competition with Novo Nordisk in the burgeoning weight loss drug market. Lilly's once-daily pill, named Foundayo, is slated to be shipped directly to consumers next week, with broader availability to follow. Patients with insurance might pay around $25 monthly with a coupon, while those without coverage could see costs rise to $349. Additionally, Lilly's CEO expressed concerns over the Biden administration's efforts to implement "most favored nation" drug pricing, warning that such measures could jeopardize future drug development. Lastly, Sam's Club has announced an increase in its annual membership fees, the first hike since 2022. Effective next month, the cost for basic and premium memberships will rise by $10, bringing the prices to $60 and $120, respectively. Despite this increase, Sam's Club membership remains more affordable than that of Costco, with the company citing enhanced services and improved delivery options as justifications for the price adjustment. Stay informed with these crucial updates as the market opens today.