CNBC Daily Open: 'Trump Strait', losing streak snapped and bilateral diplomacy

Hello, this is Leonie Kidd coming to you from London.

"What's in a name?"

Shakespeare's Juliet hoped a name was just an arbitrary label in her love story with Romeo, but when it comes to renaming monuments, lakes or even parts of other countries, a name becomes much more politically charged.

Read on for more.

Kuwait has joined a lengthening list of Gulf countries having to defend themselves from a resurgence in attacks from Iran. Kuwait's army said its air defence systems were targeting hostile missile and drone attacks. Iranian state media reported that these strikes were aimed at U.S. bases in the country.

Over recent days, Jordan and Bahrain have also been hit.

Earlier on Wednesday, President Donald Trump told reporters, "I don't think it will [war] be very much longer ... I don't know how much more they [Iran] can take," describing the American strikes against Iran on Tuesday as a "very heavy attack," adding that the U.S. was prepared for further military operations "any time we want."

"Now that we have it under U.S.A. control, should we change the name Hormuz Strait to TRUMP STRAIT???" Trump wrote in the post Wednesday morning.

"Like America itself, it would be 'hotter' than ever before! Thank you for your attention to this matter. President DONALD J. TRUMP," he wrote.

The pronouncement comes just a few days after the President signed an executive order to rename Lake Ontario "Lake America."

It was not immediately clear how the president would attempt to implement a name change for the strait.

Major U.S. stock markets have snapped a three-day slide, with a 300-point jump for the Dow leading gains across Wall Street. U.S. futures are holding steady, as traders keep an eye on weekly jobless claims due later Thursday. August's payrolls report, out Friday, will be the main event for economic data.

In the bond space, benchmark borrowing costs around the world are extending multi-decade highs as inflation concerns and debt levels keep investors on edge.

For more on how the world appears to be entering a higher-rate era, read here.

The leaders of Britain and France will hold their first face-to-face bilateral since U.K. Prime Minister Andy Burnham took on the top job. He is expected to name steel and farming as critical sectors for the U.K., with the Financial Times reporting that he could ask Britain to be factored into an EU scheme.

Meanwhile, President Trump is expected to host Chinese leader Xi Jinping at the White House later in September. For analysis on why some China watchers have low expectations, you can read more here.

— Leonie Kidd