Trump files a lawsuit against JPMorgan, Intel’s cautious outlook, TikTok’s partnership, and more in Morning Squawk.

Happy Friday! With TikTok establishing its foothold in the US, I think my time spent on the app might stretch a bit longer than it should.

This morning, stock futures are down, but it seems like the market is gearing up for another positive day.

Here are five key points investors should keep in mind as they kick off their trading day.

The inflation data released yesterday is providing a glimmer of hope for traders, even amidst ongoing geopolitical and trade uncertainties. While the latest figures align with expectations, they remain above the Federal Reserve’s target for health.

Key takeaways:

• The personal consumption expenditure (PCE) price index increased to 2.8%, matching economists’ forecasts from Dow Jones.
• The Fed’s preferred inflation gauge continues to reflect rates well above the desired 2% standard.
• Stocks rose for a second straight session, fueled by President Trump’s decision to retract previously planned tariffs on certain European nations alongside a framework for future discussions regarding Greenland.
• Yesterday, the Dow surged over 300 points, marking a turnaround for the week after a dip on Tuesday. Meanwhile, the S&P 500 and Nasdaq Composite are still projected to finish the fiscal year down.
• Despite the week’s fluctuations, retail investors are actively purchasing stocks, showing a willingness to buy even during downturns.
• However, futures are slightly down this morning, indicating a possible pause in the recent rally.
• Check for live market updates as they happen.

Trump is moving forward with a lawsuit against JP Morgan Chase and its CEO Jamie Dimon. The president alleges that the bank’s closure of his accounts in early 2021 was driven by political motivations. He expressed to reporters that Dimon’s actions of “stripping” his accounts were “unforgivable,” and he is seeking at least $5 billion in damages in a Florida state court.

As noted by CNBC analysts, the bank’s decision followed the January 6, 2021, riots and Trump’s departure from office. JPMorgan has stated it regrets the lawsuit but maintains there’s no merit to the claims.

Intel’s fourth-quarter sales exceeded Wall Street’s expectations, yet a weak outlook prompted a 13% drop in its stock during overnight trading.

CFO David Zinsner explained that supply constraints have hindered the company’s ability to meet seasonal demand, although improvements are anticipated in the upcoming months.

This downturn follows a significant growth, as Intel’s stock has nearly doubled in the past year, buoyed by enthusiasm for U.S. government initiatives and partnerships with companies like Softbank and Nvidia.

In significant tech news, TikTok announced a joint venture in the U.S. with new operational rules established by a law enacted in 2024. This arrangement aims to avert a potential ban, which would occur unless the Chinese parent company, ByteDance, divests its U.S. operations.

Adam Presser, who spearheads operations and trust and safety for TikTok, will assume the role of CEO for this new entity, which is set to function independently. TikTok’s current CEO, Hsu Chu, will become a director, and an American majority will sit on the seven-member board.

TikTok maintained its strong performance in the U.S. last year, ranking as the second most downloaded app on both the Apple App Store and Google Play Store, according to data from Sensory Tower.

European officials are attempting to decode President Trump’s announcement about a tentative agreement with NATO concerning Greenland.

Bernd Lange, a European Parliament member, mentioned there is a demand for greater clarity on the deal’s specifics. Prime Minister Jens Frederik Nielsen of Greenland also stated that the island’s sovereignty remains a crucial point that must not be compromised.

Meanwhile, Ukrainian President Volodymyr Zelenskiy made a plea to European leaders during a strong speech at Davos. He criticized Europe’s focus on pushing the U.S. president for changes instead of taking the lead in defending global freedoms, particularly if American attention begins to shift elsewhere.

From Davos to the Greenland agreement, there’s no shortage of important news. Here are some stories you might have overlooked.