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

Kintanilla live from post nine of the New York Stock Exchange. Today, Goldman Sachs is co-head of

private equity on what he expects for M&A activity and the IPO market in 2026 and beyond.

He joins us exclusively.

Plus the CFTC moving to scrap a 2025 fine against the Winklevoss-led crypto company Gemini, potentially reigniting questions

about the billionaire Trump owners' influence over the regulatory agency. We will discuss with

the former CFT chair. And polls are showing that LA mayoral candidates remain locked in a

tight race here ahead of Tuesday's primary. Former reality TV star Spencer Pratt looking to unseat

incumbent Karen Bass. Spencer Pratt joins us here at post nine this hour. As for the markets, we did get

some fresh highs today right around the 7550 level,

kind of a mixed bag sector-wise. Financials and utilities are lower. Tech doing some heavy lifting,

along with health care, actually, up more than one and a half percent, still watching the

tape for fresh headlines regarding a potential memorandum of understanding between the U.S.

and Iran, try to get some traffic moving in the

Strait of Hormuz. Yeah, Axias reported that there's a deal on the table, but Trump has yet to

sign off on it. Are Eamon Jabbers telling us a little bit about that, that it includes negotiations

for ending the Iran nuclear deal, but any hint or talk or headline around a deal being finalized still gets this market

excited.

Yeah, still having to erase the gains this morning on oil, WTI, still green.

We'll move on to the big move in Snowflake and what it means for the broader market.

Our senior markets commentator Mike Santoli joins us this morning.

This story has everything.

...