Hi, I'm Andrew Ross Sorkin, co-host of Squatbox. Today I'm with Becky Quick and Mike Santoli,

and this is five things to know before the opening bell. President Trump signing an executive order

seeking to block state laws on AI. Now, he's pushing for a national regulation framework.

Meantime, the Federal Reserve's board of governors

has unanimously reappointed 11 of the 12 central bank regional presidents to new five-year terms.

Atlanta Fed President Rafael Bostic previously announced plans to retire. The move settles

concerns that President Trump was seeking to install allies at the Fed

board who might object to reappointments. And shares of Costco are slightly lower, earnings

and revenue beating estimates, and U.S. comp sales grew by 5.9 percent. Digital sales were up

more than 20 percent year over year. The company says it continues to look for ways to reduce

the impact of President

Trump's tariffs. And NASCAR has settled an antitrust lawsuit. This one was brought by Michael

Jordan and his racing team that rejected the league's demand for a charter. After eight bruising

days of trial, NASCAR settling, granting all of the teams the permanent charters that they

wanted, in terms of the settlement, weren't released.

Meantime, Elon Musk responding to the latest report that SpaceX is going public in 2026,

calling it accurate.

He made that post on X in response to a piece from Eric Berger that said, now is the right time for a SpaceX IPO over the weekend.

Must Ed reports of an $800 billion valuation were not accurate.

So, Mike, we got to see what that ultimately means.

Some people think it could be even more than that, though.

And remember, I think Elon owns 40-some percent of the company.

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