Chip rally, Fed task forces, Delta earnings and more in Morning Squawk

In the latest edition of CNBC's Morning Squawk, investors are greeted with a mix of stock futures as the market gears up for a promising day. The Nasdaq Composite and S&P 500 are poised for a successful week, driven by a notable surge in chipmaker stocks. Yesterday, a rally in chip manufacturers propelled all three major U.S. stock indices higher, with Micron Technology leading the charge with a remarkable 4.5% increase following its announcement of significant investments aimed at bolstering the U.S. supply chain. In other news, Federal Reserve Chairman Kevin Warsh has unveiled a new advisory team comprising experts tasked with evaluating the central bank's operations. Among the prominent figures included are venture capitalist Marc Andreessen, Xbox CEO Asha Sharma, former White House economic adviser Greg Mankiw, and ex-Walmart CEO Doug McMillon. The AI-focused task force members seem to align with Warsh's optimistic outlook on the technology's potential. In a separate development, Anthropic has appointed former Federal Reserve Chair Ben Bernanke to its Long-Term Benefit Trust, which guides the company on how AI is influencing the economy. This strategic move is expected to enhance the company's understanding of the evolving economic landscape shaped by artificial intelligence. Delta Air Lines has kicked off the earnings season for major U.S. airlines with a strong performance, exceeding both revenue and profit expectations. CEO Ed Bastian confirmed that the airline plans to maintain its pricing power by passing increased fuel costs onto customers, anticipating that ticket prices and demand will remain robust. Delta has already transferred approximately 60% of its heightened fuel expenses to customers this quarter, a figure expected to rise significantly in the upcoming period. Meanwhile, oil prices saw a decline on Thursday, though tensions in the Strait of Hormuz persist following Iranian assaults on commercial vessels, prompting U.S. responses. Data indicates that tanker traffic through this critical route has diminished, with only five commercial ships making the crossing in a recent 24-hour span, compared to an average of 33 ships the previous week. In a notable change, Palm Beach International Airport has officially been renamed to President Donald J. Trump International Airport, a move enacted by recent legislation from Florida Governor Ron DeSantis. The airport, frequently utilized by the former president and his family, is expected to undergo a rebranding process costing approximately $5.5 million. Stay tuned for more updates and insights as the market unfolds, and don’t miss the opportunity to catch the latest developments in the world of finance and technology.