Amazon’s earnings rally, Netflix’s stock split, chocolate inflation and more in Morning Squawk

This is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.

Here are five key things investors need to know to start the trading day:

Yesterday brought another big day of earnings reports from the world’s top tech companies. Judging by overnight trading, the numbers aren’t quite spooking investors like Meta’s report did.

Here’s what to know:

• Amazon‘s stock surged 13% after the company reported hotter-than-expected earnings and revenue growth of 20% in its cloud business. The e-commerce giant also hiked its capital expenditures guidance for 2025 to $125 billion and said that the figure should be even higher next year.
• Shares of Apple rose 2% after the iPhone maker beat analyst expectations. CEO Tim Cook said demand for the new iPhone 17 demand is “off the chart.” Apple has differentiated itself within megacap tech with a more conservative approach to artificial intelligence spending.
• Meanwhile, Netflix climbed 3% after the streamer announced a 10-to-1 stock split — a largely cosmetic change that’s typically done to rev up retail trader interest.
• Tech stocks sold off in yesterday’s session, with the sector dragged down by Meta and Microsoft‘s post-earnings slides. The three major indexes are still all tracking to end the month — which concludes with today’s closing bell — in the green.
• Follow live markets updates here.

Competitors Delta Air Lines, United Airlines and American Airlines came together yesterday to call for an end to the federal government shutdown, which is now on its 31st day. Lobbying group Airlines of America, of which all three carriers are members, joined a roundtable with Vice President JD Vance and Transportation Secretary Sean Duffy at the White House yesterday.

U.S. air traffic controllers missed their first full paychecks this week because of the closure. Delta urged the Senate to “immediately pass a clean continuing resolution,” saying in a statement, “Missed paychecks only increases the stress on these essential workers, many of whom are already working mandatory overtime to keep our skies safe and secure.”

Meanwhile, the Chamber of Commerce reported that government contractors are cumulatively losing about $3 billion for each week of the shutdown. The Congressional Budget Office warned earlier this week that the closure has already wiped out at least $7 billion in gross domestic product by the end of next year.

Chevron exceeded Wall Street’s expectations on both lines this morning. The Houston-based company also posted a record daily production of 4.1 million barrels in its third quarter, lifted by its acquisition of Hess.

On other other hand, Exxon Mobil reported third quarter revenue that missed analysts’ forecast. The energy company said its net income fell 12% to $7.55 billion in the period.

Don’t miss Exxon Mobil CEO Darren Woods on CNBC’s “Squawk Box” in 8 a.m. ET hour, followed by Chevron CEO Mike Wirth on “Squawk on the Street” at 9:15 a.m. ET. Watch CNBC live on TV, CNBC Pro or CNBC+.

Car makers are preparing for a new nightmare scenario: a potential shortage of auto semiconductor chips.

At the heart of these concerns is a company called Nexperia, a chip supplier owned by a Chinese company that was taken over by the Dutch government last month. China responded by blocking exports of Nexperia’s products, leading automakers to set up “war rooms” to monitor the situation and Honda to reduce production.

U.S.-listed shares of Stellantis also tumbled around 9.5% yesterday after the Jeep and Dodge parent warned it was facing one-off costs. The charges overshadowed what was otherwise a fairly positive third quarter for the automaker.

Rising chocolate prices may be leaving lovers of the sweet treat feeling sour. They’re up close to 30% since last Halloween and almost 78% over the last half decade, according to data from Circana and the Bureau of Labor Statistics.

As CNBC’s Luke Fountain reports, chocolate may be loosing its luster thanks to sticker shock and the rise of cheaper, trendier alternatives. Circana found chocolate made up 44% of Halloween candy sales this year, down from 52% in 2024.