Trump's market-moving post, the new DHS chief, Gap's AI push and more in Morning Squawk

In today’s market update, we delve into various developments impacting investors as trading begins. Stock futures show little movement this morning following a positive close yesterday. President Donald Trump made headlines with his assertion that productive discussions between the U.S. and Iran are underway, hinting at both nations’ desire for a resolution. This remark has sparked optimism among investors, suggesting that the escalating conflict could be de-escalating. Chevron's CEO, Mike Wirth, added to the conversation at S&P Global's CERAWeek conference, indicating that the volatility in oil prices might not yet reflect the full implications of potential supply disruptions, particularly concerning the Strait of Hormuz. Wirth pointed out that current market perceptions may not align with the physical supply of oil, which is lower than futures contracts suggest. In the pursuit of stabilizing fuel prices, Energy Secretary Chris Wright announced an initiative to increase diesel supply, while Interior Secretary Doug Burgum noted a rising demand for U.S. energy from Asian countries. In a notable partnership, Gap is set to collaborate with Google to introduce checkout via Google’s Gemini AI platform. This move positions Gap as the first fashion retailer to engage directly with Google in the realm of agentic commerce. Shoppers opting for Gemini will process payments through Google Pay, while Gap manages shipping and logistics. As AI tools continue to reshape consumer behavior, Gap’s technology chief, Sven Gerjets, emphasized the need for retailers to adapt to conversational commerce rather than traditional keyword searches. On the political front, the Senate confirmed Sen. Markwayne Mullin as the new head of the Department of Homeland Security in a 54-45 vote. Mullin, who has a background as a former MMA fighter and rancher, steps into leadership during a tumultuous period for the DHS, which is currently facing funding challenges due to immigration enforcement issues. In sports news, the Pro Padel League has successfully raised $15 million in a Series A funding round, signaling a growing interest in padel in the U.S. This sport, which combines elements of tennis and squash, is expected to see an expansion in its presence, with projections estimating 20,000 courts across the nation by 2030, a significant increase from the current few hundred. As economic and political narratives unfold, Chicago Federal Reserve President Austan Goolsbee remarked that the nation is at a pivotal moment due to the ongoing U.S.-Iran conflict. Investors are advised to stay informed as these developments continue to evolve.