SpaceX rally continues, Dow's new record, Fox buys Roku and more in Morning Squawk

Happy Tuesday! In today's financial landscape, notable events are shaping investor sentiment. Snap CEO Evan Spiegel is set to join CNBC's Julia Boorstin live at the Augmented World Expo in California today at 2 p.m. ET. Meanwhile, stock futures are showing minimal movement this morning following a strong previous trading day. The recent signing of a memorandum of understanding between the U.S. and Iran sparked enthusiasm among investors, leading to significant gains across all three major stock indices. However, some analysts are cautioning that the conflict's resolution timeline remains uncertain. Today marks the first day of the Federal Reserve's policy meeting featuring new chair Kevin Warsh. Sources indicate that former President Trump’s trust in Warsh may provide him with greater latitude than his predecessor, Jerome Powell. This breathing room could allow Warsh to announce a decision to maintain interest rates, aligning with market expectations while avoiding a conflict with Trump's push for cuts. Current projections from CNBC's Fed Survey suggest that rates may remain unchanged until 2027, with an expectation of removing any easing bias. In a significant development, SpaceX shares surged nearly 20% on their first full trading day, following the successful completion of its initial public offering that raised approximately $85.7 billion. Investor Ron Baron revealed that Baron Capital acquired $1 billion in SpaceX stock during the IPO, boosting his total investment to around $25 billion. Despite this upward momentum, some retail investors expressed dissatisfaction with the number of shares they received. The stock's rally continued this morning, although gains were tempered by SpaceX's announcement of its acquisition of Anysphere, the parent company of the AI coding agent Cursor, for $60 billion. In the tech sector, Nvidia announced plans to issue investment-grade corporate bonds for the first time since 2021, aiming to raise at least $20 billion to support its operations. Presently, Nvidia carries approximately $7.5 billion in long-term debt and $1 billion in short-term debt. This move follows a similar trend among tech companies seeking capital, including Alphabet and Super Micro, which recently outlined their financing strategies. In corporate acquisitions, Fox Corp. confirmed a deal to acquire Roku for around $22 billion, with the transaction expected to finalize in the first half of next year. Following this announcement, Fox's shares fell by 15%, while Roku saw a nearly 2% decline. Additionally, Salesforce revealed its intention to acquire the AI customer service provider Fin, which was formerly known as Intercom, with expectations for closure in the fourth quarter of the 2027 fiscal year. Lastly, the U.S. Strategic Petroleum Reserve has dropped to approximately 340 million barrels, marking its lowest level since 1983, according to the Department of Energy. Stay tuned for more updates as the market unfolds today.