Good Wednesday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl

Kintania live from post nine of the New York Stock Exchange. Today, President Trump entering

the predictions markets fight against state gambling pushback, pledging to ensure markets thrive

and backing his own federal regulators in the process,

we'll discuss with former CFDC chair, Gary Gensler.

Plus, AI demand fueling this recent market run, still hovering near record territory.

We're joined by one strategist who says the major infrastructure buildout will end with a productivity shock,

and we'll discuss how he should be positioning from here.

Plus, what earnings prints from the likes of Dix and Capri say about the current state of the

American consumer? As for markets right now, relatively flattish action on the S&P holding above

7,500. Dow's definitely being led by some defensive names, Proctor, Nike, Home Depot, names that have lagged

so far this year, got some relief in yields. And, of course, the big story is oil with WTI back to 91.

Brent, briefly below 95. And guess who benefits? The cruise lines, the hotel companies, those that

were vulnerable on oils right up. This hour, we are monitoring President Trump. He's holding a cabinet meeting. Our Megan Casella joins us now with what could be on the agenda, Megan. Hey, Sarah. So this is the meeting that we had initially expected would be held at Camp David. Now it will be in the cabinet room at the White House. A change that the president says was made due to weather. So this is the 12th time that we know of that the president has convened his full cabinet like this. And we have been told to expect full attendance. It will be on camera, open press, at least at the start, the way these usually go. We hear from the president. And then he tends to go around the room, has each official give an update on his or her agency, and then they usually take

questions from the press. But the biggest news here would likely be any update on the Iran war.

Iranian State TV this morning is claiming to have a draft of a framework of an agreement with

the U.S. and they say the draft says Iran will restore commercial traffic in the Strait of Hormuz

to pre-war levels within a month of it being signed.

Now, we did just hear from the U.S. side on that report, the White House knocking it down,

saying not to believe it.

So expect that to come up during the meeting, especially if some of the officials leading

negotiations with Iran are in attendance.

...