Wall Street's latest AI spook, Netflix layoffs, 'good debt' and more in Morning Squawk

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Happy Thursday. CNBC's "Halftime Report" and "Closing Bell" will both air live from San Francisco for special "AI in America" shows today. Watch live on CNBC or CNBC+.

Nasdaq futures are lower this morning. The market is coming off a rough day, which we recap below.

Here are five key things investors need to know to start the trading day:

1. ROI on AI

Jonathan Raa | Nurphoto | Getty Images

2. Hot streak

A shopper looks for items in a grocery store on October 14, 2026 in Miami, Florida.

Joe Raedle | Getty Images

Yesterday's consumer price index data came in hotter than economists anticipated on a 12-month basis, largely thanks to surging energy prices.

The report marked the 66th straight annual CPI reading above the widely accepted inflation target of 2%, according to a CNBC analysis. That's the longest such stretch in this century. Cleveland Federal Reserve President Beth Hammack warned last week consumers might be starting to accept high inflation as a "fact of life," which could have negative implications for the effectiveness of monetary policy tools.

September's producer price index — which tracks wholesaler inflation — and retail sales data are slated to be released this morning.

3. Tank challenges

An oil tanker unloads imported crude oil at the oil terminal of Qingdao Port in Qingdao City, Shandong Province, China, on September 2, 2026. (Photo by Costfoto/NurPhoto via Getty Images)

Nurphoto | Nurphoto | Getty Images

Speaking of energy prices: Diesel prices remain elevated in the run-up to the midterm election. CNBC's Gabriel Cortés reports that analysts don't expect costs to come down anytime soon, even with President Donald Trump's recent diesel deal with Russia.

Meanwhile, a container ship sank in the Strait of Hormuz yesterday as Iran ramps up attacks on commercial vessels in an effort to block crude exports in the passageway.

4. Wednesday

Justin Sullivan | Getty Images