Stocks pull back, Honda’s EV decision, retail warning signs and more in Morning Squawk

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

Stocks slid for a second straight day yesterday. The breather has left investors questioning whether the market can continue to hit new records, and whether a group of high-powered artificial intelligence plays are losing steam.

Here’s what we have been keeping an eye on:

• Micron fell nearly 3% despite strong earnings results, underscoring continued concern around the strength of the all-important AI trade.
• Oracle shed more than 1% as traders wondered how much control the company might exert over TikTok’s algorithm if President Donald Trump’s deal for the social media platform’s U.S. arm goes through.
• Lithium Americas shares skyrocketed more than 95% after the White House proposed taking an equity stake in the Canadian miner.
• Robinhood also bucked the downtrend after regulators approved amendments that would replace a controversial but long-held minimum equity rule for active day traders. The change still needs approval from the Securities and Exchange Commission.
• Follow live market updates here.

The Acura ZDX has reached the end of its road in the U.S.

Honda Motor is ceasing domestic production of the electric vehicle, which was being made by General Motors in Tennessee. Honda “has decided to cancel all future production,” according to a message sent to plant workers on Tuesday viewed by CNBC. Production of the 2026 model was previously expected to commence this month.

A Honda spokeswoman confirmed the decision to CNBC, citing “market conditions” and a desire to align with longer-term strategic goals.

The Chicago Bears are now valued at $8.9 billion after the league’s financial committee approved a sale of more than 2% of the team to existing owners, according to three people familiar with the matter.

That’s a new NFL record valuation in a minority stake sale, a person familiar with the deal told CNBC.

Meanwhile, league Commissioner Roger Goodell told CNBC in an exclusive interview that he is considering the potential for an international team. He also said the NFL could renegotiate media deals as early as next year, which would be much sooner than previously anticipated.

Retailers could add less than 500,000 jobs for the final three months of 2025, according to estimates from Challenger, Gray & Christmas released yesterday. That would mark the weakest seasonal hiring since 2009.

Companies like Target and Macy’s had already announced their planned holiday season hiring numbers by this time last year, but they have yet to do so in 2025. As CNBC’s Gabrielle Fonrouge reports, retailers’ seasonal hiring can signal what they expect out of the crucial holiday season.

Speaking of the labor market, keep a close eye on the latest weekly jobless claims numbers due this morning. The data comes after the Federal Reserve pointed out cooling in the labor market last week.

New research shows that several AI models are now advanced enough to pass the most difficult mock chartered financial analyst exams, and in only a matter of minutes. Humans typically study around 1,000 hours over several years for the test.

It’s the latest example of just how far AI has come. Research from two years ago found AI could pass the first two levels of the CFA exam, but got tripped up on the hardest level because of its essay questions.