U.S.-Iran deal, the world's first trillionaire, JetBlue's Florida plans and more in Morning Squawk

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Happy Monday. The New York Knicks became NBA champions for the first time in more than half a century this weekend. Meanwhile, another Manhattan sports franchise — my recreational soccer team — learned we didn't make the playoffs.

Stock futures are rising this morning after a winning week for all three major averages.

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

President Donald Trump announced last night that the U.S. and Iran reached a deal to end the war and that the Strait of Hormuz would reopen on Friday. The text of the agreement — which Pakistan Prime Minister Shehbaz Sharif said would be signed on Friday in Switzerland — has not been released.

Oil prices dipped below $80 for the first time since March on the news that the strait would reopen and the U.S. would lift its naval blockade of Iranian ports. Before the conflict started, roughly 20% of the world's oil supply passed through the crucial waterway.

Stock futures also jumped higher, with futures tied to the Dow Jones Industrial Average up nearly 500 points before the bell. Follow live market updates here.

Anthropic said Friday that it disabled access to its recently released Fable 5 and Mythos 5 models. The artificial intelligence startup said it was complying with a government export control directive that cited "national security authorities."

The company said the order, which it received Friday evening, instructed it to suspend access to the models "by any foreign national, whether inside or outside the United States, including foreign national Anthropic employees." Anthropic said it disabled the models for all customers to ensure compliance.

As CNBC's Ashley Capoot notes, Anthropic announced the models' release earlier in the week following concern over Mythos' advanced cybersecurity capabilities. The company had said it could release the powerful models to the public thanks to new safeguards that block responses in certain areas.

About a year ago, CEO Mark Zuckerberg tapped Alexandr Wang to turn Meta's AI efforts around. Now, the onus is on Zuckerberg to make it financially worthwhile. As CNBC's Jonathan Vanian and Julia Boorstin report, Zuckerberg must show that his company's AI tools can draw in paying users, not just enhance its core ad business.

Meta's entry into proprietary foundation models put it back in the AI arena, but the Facebook parent still trails Anthropic, OpenAI and Google in the space. Developers — and Wall Street — aren't sure the company can catch up: The stock has underperformed its megacap tech peers over the past year, sinking 18%.

JetBlue may already be the biggest airline in Fort Lauderdale, Florida, but that doesn't mean it's slowing down.

As CNBC's Leslie Josephs reports, the air carrier has plans to expand even further in the market following Spirit Airlines' collapse. JetBlue boasts 36% market share by capacity at Fort Lauderdale-Hollywood International Airport, and it added 5% more between May and June.

The airline plans to expand its international destinations and premium offerings at Fort Lauderdale-Hollywood, which JetBlue President Marty St. George called a "star" for the company.

Here's what we're watching for in the holiday-shortened trading week:

— CNBC's Terri Cullen, Chloe Taylor, Garrett Downs, Anniek Bao, Emma Graham, Spencer Kimball, Lora Kolodny, Jordan Novet, Tobias Burns, Robert Frank, Jennifer Elias, Sean Conlon, Jonathan Vanian, Julia Boorstin and Leslie Josephs contributed to this report.

CJ Haddad assisted in the production of this newsletter. Josephine Rozzelle edited this edition.