The metal sell-off, Disney earnings, the ‘Melania’ movie and more in Morning Squawk

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Good morning. America’s favorite groundhog, Punxsutawney Phil, saw his shadow this morning, meaning we’re in for six more weeks of winter. After the recent string of cold temperatures, I can’t say I’m surprised.

Stock futures are sliding this morning. The three major indexes are coming off a losing day.

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

The three major indexes rose in January, despite ending the trading month ended on a sour note. Sell-offs in silver and crypto have meanwhile raised alarm in some of the market’s more speculative corners.

Here’s what to know:

• While stocks dropped on Friday, the Dow Jones Industrial Average and S&P 500 both added more than 1% in the month. The Nasdaq Composite rose nearly 1%.
• Precious metals cratered in Friday’s trading session, with gold and silver falling 9% and 28%, respectively.
• It was silver’s worst day since 1980. The iShares Silver Trust, a key pick for retail traders amid their recent rush into precious metals, registered its worst day on record.
• The metals extended those losses in early trading today.
• Bitcoin meanwhile dropped below the $80,000 mark over the weekend for the first time since April — part of a broader slide in cryptocurrencies reflecting a possible risk-off sentiment among investors.
• Traders look poised to kick off the new month on their back foot: Stock futures are lower before the opening bell.
• Follow live markets updates here.

Disney beat analyst expectations on both lines in its first fiscal quarter, sending shares up 3% this morning. Notably, CFO Hugh Johnston told CNBC that the company’s experiences division — which houses its theme parks, resorts and cruises — hit $10 billion in quarterly revenue for the first time ever.

As investors parse through the report, there’s one question lingering on everyone’s minds: Who will succeed CEO Bob Iger? Disney previously said it would announce its next leader in the first quarter of this year. The company’s board is slated to meet this week and expected to vote on Iger’s successor, people familiar with the matter told CNBC.

The entertainment giant’s report kicks off a busy week for earnings that will include releases from PepsiCo, Chipotle, Alphabet and Amazon.

The government partially shut down over the weekend after Congress failed to get a funding bill across the finish line. The Senate approved a package of bills ahead of the deadline, but the deal also needed approval from the House of Representatives, which wasn’t scheduled to be in Washington until today.

House Speaker Mike Johnson said yesterday that he believes the shutdown could be resolved by Tuesday. The House is expected to take up the Senate-approved spending package today. If it’s passed by the House, it will head to President Donald Trump’s desk.

Meanwhile, the Justice Department on Friday released millions of pages of documents tied to the late convicted sex offender Jeffrey Epstein. Trump, Tesla CEO Elon Musk and Secretary of Commerce Howard Lutnick were among those whose names appeared in the latest release.

Food producers are looking to cut some fat.

As CNBC’s Amelia Lucas reports, companies in the industry have been splitting up or chopping off underperforming businesses. The moves come as regulatory scrutiny heats up and consumer demand for processed goods shrinks.

Kraft Heinz and Keurig Dr Pepper two such companies planning splits, while Unilever spun off its ice cream business last year. There could be more examples in the pipeline: A Bain survey found 42% of merger-and-acquisitions executives in the consumer product sector are preparing an asset to be up for sale over the next three years.

“Melania,” Amazon‘s documentary of first lady Melania Trump, earned $7 million at the domestic box office in its debut this weekend. As CNBC’s Sarah Whitten notes, that’s the highest-grossing opening for a non-music documentary in over a decade.

Women and people over 55 drove ticket sales for screenings, with the two demographics together accounting for more than 70% of moviegoers. Rural theaters also represented an outsized share of box office grosses.

Amazon spent an estimated $40 million to acquire the film and reportedly an additional $35 million on marketing. While review sites are full of positive writeups, the movie has been largely panned by critics.

Here’s what we’re following this week:

• Monday: Palantir earnings (after the bell)
• Tuesday: Merck, Pfizer, Pepsi and PayPal earnings (before the bell); Chipotle Mexican Grill, Super Micro and AMD earnings (after the bell); Job Openings & Labor Turnover data
• Wednesday: Eli Lilly, Yum Brands and Uber earnings (before the bell); Alphabet, Qualcomm and Snap earnings (after the bell); ADP private payrolls report
• Thursday: Tapestry and Peloton Interactive earnings (before the bell); Reddit, Amazon and Affirm earnings (after the bell)
• Friday: Under Armour earnings (before the bell); January’s nonfarm payrolls report

CNBC’s Fred Imbert, Chloe Taylor, Lee Ying Shan, Arjun Kharpal, Lillian Rizzo, Julia Boorstin, Garrett Downs, Lora Kolodny, Amelia Lucas, Sarah Whitten, as well as The Associated Press, contributed to this report. Josephine Rozzelle edited this edition.