5 Things to Know Before the Opening Bell 6/9/25
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Hi, I'm Becky Quick, co-host of Squawk Box. Today I'm with Joe Kernan, and this is Five Things You Need to Know Before Today's Opening Bell. President Trump's top trade officials are meeting their Chinese counterparts in London today. That includes Treasury Secretary Scott Besant, Commerce Secretary Howard Lutnick, and U.S. Trade Representative Jameson Greer. The talks come as new data from China overnight showed a 34.5% drop in exports from China to the U.S. in May.

And domestic prices continue to be a concern. China's CPI declined for a fourth consecutive month. In the meantime, a U.S. trade team that's currently in India for negotiations has extended its stay. That's according to a Bloomberg report that says that the talks were scheduled for last Thursday and Friday, but they will continue through Tuesday in a sign that the negotiations are progressing.

And back here in the United States, President Trump said that his pick for the next Fed chair will be coming very soon. When asked if the choice might be former Fed Governor Kevin Warsh, the president didn't tip his hand, but he did say that Warsh, in his words, is very highly thought of. Trump made those comments to reporters on Air Force One on Friday evening.

And a long-awaited decision for college athletes was approved late Friday. A federal judge signed off on a $2.6 billion settlement that paves the way for direct payments from universities to players.

It creates a system where each Division I school will be able to distribute roughly $20 million per year to their athletes. It launches college sports into a new era that will funnel billions of dollars of revenue-generating sports like football and basketball, but it could jeopardize sports programs that don't bring in money, especially at smaller schools. So it's less than a year now for Jay Powell.

Yeah, it's 2026. Is it May of 2026? So that's why we're talking about this? Yeah, countdown. It's not going to replace him. Anytime. Not back with that scuttlebutt, right? It's just when it happens who it would be. Interesting. I don't know. Warsh is, I can't imagine he'd be lowering rates necessarily. No. But he's also somebody who has been very close with the administration. I know, but if you're looking for someone who's going to

Are you looking for somebody who's just going to cut rates or are you looking for somebody who's going to make sure that you don't wind up? I think of him almost as just a... There's been times when he's wanted Jay Powell to do even more hawkish things than what Jay Powell did. So I don't know how that would work. We'll be back later today with Squawk Pod, our daily podcast featuring the best of Squawk Box. Stay tuned to your feed wherever you get your podcasts and listen anytime.

Yeah.

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