The jobs report, Meta's rally, Trump Accounts and more in Morning Squawk

With the holiday, we have jobs data this morning instead of tomorrow. Economists polled by Dow Jones expect nonfarm payrolls to rise by 115,000 in June, which would mark a slowdown from the 172,000 gain a month prior.

Here's what to know:

The U.S. said that its USMCA trade agreement with Canada and Mexico will not be extended, as of yesterday. As CNBC's Michael Wayland reports, the decison throws American automakers into a fresh period of uncertainty.

Instead of reaching a 16-year extension, the deal now needs to be reviewed annually. Automakers have worried that reopening the deal could reignite uncertainty around trade, which could in turn hamper investments and hiring.

Ford Motor CEO Jim Farley told CNBC that he hoped to see a more even playing field as a result of the talks restarting. Specifically, Farley said he wanted the deal to help carmakers that mainly produce vehicles in the U.S.

Federal Reserve Chairman Kevin Warsh wouldn't offer insight into what the central bank would do next during a panel discussion yesterday. However, he shared that he felt inflation was running too hot.

Warsh, who was joined on stage by other leaders of central banks around the globe, told CNBC's Sara Eisen that he found prices were "too high." The Fed chief also said he hoped that the central bank would begin using "new technologies" in the futures to paint a better picture of the state of inflation in the economy.

See all the big moments from the discussion here.

CNBC learned yesterday that Meta will sell excess computing power to outside customers amid the artificial intelligence boom. Shares jumped more than 8% in the session, notching the stock's best day since January.

The Facebook parent is reportedly aiming to build a new cloud business. That could help the megacap technology company recoup some of its investment on AI infrastructure.

Elsewhere in AI: Palantir CEO Alex Karp criticized the token structure used by Anthropic and OpenAI. Karp told CNBC that "I'm not throwing shade at them, but something has gone completely wrong."

The so-called Trump Accounts officially open this weekend. Known previously as 530A accounts, this type of investing platform for minors is focused on long-term retirement savings.

These accounts, which were enacted as part of Trump's "big beautiful bill," function similarly to an IRA. For babies born from 2025 through 2028, the Treasury Department is offering a $1,000 pilot program contribution.

Here's what to know about the accounts.