Nvidia's 'investible asset,' U.S. oil reserve shrinks, Trump's vaccine order and more in Morning Squawk

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

Happy Tuesday. If you're debating whether to stay invested in the stock market, Goldman Sachs' co-head of global banking and markets has some advice.

Stock futures are little changed this morning after a muted day on Wall Street.

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

Nvidia said Monday that it inked agreements with Wall Street's top asset managers in a push to turn its chips into assets. Speaking to CNBC after the announcement, Nvidia CEO Jensen Huang said the $500 billion financing deal marks "the first time that technology chips have become an investable asset class."

The company signed memorandums of understanding with firms including Apollo Global Management, Blackstone and Goldman Sachs to create financing platforms for its customers. As CNBC's Kif Leswing writes, it could be a new frontier for the AI buildout, which has previously been backed by corporate balance sheets.

Nvidia lost almost 3% in yesterday's session but is regaining ground before the bell, up around 1%.

The U.S. Strategic Petroleum Reserve dropped below 300 million barrels last week to hit its lowest level since 1983, the Energy Department said Monday. As CNBC's Spencer Kimball writes, the slide has raised concerns that the U.S. government stockpile could be heading toward depletion.

Meanwhile, the White House extended its wavier of the Jones Act for another 90 days — with some changes — as it aims to keep oil flowing amid the Iran war. The 1920 law, which President Donald Trump first waived in March, requires that U.S. vessels conduct the transport of goods between American ports.

U.S. West Texas Intermediate futures climbed back above the $82 per barrel mark yesterday as a deal to reopen the Strait of Hormuz seemed further away than investors had thought.

Trump signed a executive order yesterday aimed at reducing the number of routine vaccines for kids, the latest action in his administration's push to change the childhood shot schedule.

The president said he'd like to bring the recommended number of vaccines for children down to 11, saying the update would bring the U.S. in line with "other advanced and developed nations" as well as "common sense and knowledge." Trump on Monday falsely connected vaccines to autism, when scientific evidence has shown no connection between autism and childhood immunizations.

Trump also called for the combination measles, mumps and rubella vaccine to be split into three separate, single-disease shots. Health experts have expressed concern that doing so could lead to more missed appointments and skipped immunizations.

Baby products company Frida is venturing into the kids' personal care space, partnering with Walmart as it launches products for 6- to 11-year-olds.

"It was really the dearth of genuine, thoughtful innovation for this stage of parenthood that felt like a rinse and repeat of our playbook in mother care and baby care," CEO Chelsea Hirschhorn told CNBC's Laya Neelakandan, calling the lack of products for the age group a "glaring gap."

Hirschhorn's company is only the latest company to look to the tween cohort as Generation Alpha reshapes parts of the retail landscape. Frida told CNBC it has generated more than $2 billion in retail sales since its launch and seen around 30% annual growth over the last half decade.

— CNBC's Samantha Subin, Phil LeBeau, Megan Reeder, Ashley Capoot, Hugh Son, Kif Leswing, Spencer Kimball, Kevin Breuninger, Annika Kim Constantino, Jacob Pramuk, Ashley Capoot, Laya Neelakandan contributed to this report.

Luke Fountain assisted in the production of this newsletter. Josephine Rozzelle edited this edition.