Oil prices top $100, FDA leadership change, the wellness boom and more in Morning Squawk

Good morning! As Wall Street faces a challenging start to the trading day, investors are advised to prepare for possible delays at security lines, especially for those traveling by air. Stock futures have taken a hit following a tough week on the market, and here are the key developments to watch. U.S. crude oil prices have exceeded $100 per barrel for the first time since the aftermath of the Russian invasion of Ukraine in 2022. This spike is attributed to production cuts from Iraq, Kuwait, and the United Arab Emirates, compounded by the ongoing U.S.-Iran conflict. This situation has intensified discussions about affordability, particularly in light of the upcoming midterm elections. According to reports, Democrats are leveraging the conflict to highlight rising costs for American households, notably at the gas pump, while some Republicans are hoping for a swift resolution to mitigate potential economic repercussions that could impact their messaging. In another significant development, Vinay Prasad, the FDA's vaccine chief, is set to depart his role at the end of April. This announcement comes after a series of contentious decisions that have drawn criticism from various sectors, including biotechnology and pharmaceutical industries. FDA Commissioner Marty Makary has indicated that a successor will be appointed prior to Prasad's departure. Meanwhile, Canadians continue to resist U.S. goods and services in response to political tensions, including calls for Canada to become a U.S. state. This movement, initially seen as a fleeting expression of national pride, has resulted in a shift towards increased domestic consumption and tourism within Canada, which could have implications for the U.S. tourism industry. The wellness industry is also witnessing a boom, driven by consumer demand for social spaces that prioritize health and well-being. Establishments that offer amenities like saunas and cold plunges are thriving, with New York-based Bathhouse projecting revenues of around $120 million by 2026. The Global Wellness Institute predicts that the global wellness market could approach $10 trillion by 2030, highlighting a significant trend in consumer behavior. Stay tuned for more updates as we monitor these evolving stories throughout the week.