Trump’s energy efforts, European bonds, retailers’ inventory balancing act and more in Morning Squawk

Happy Monday. I saw "The Social Reckoning" over the weekend, the first of a string of new movies and TV shows focused on technology executives.

Stock futures are little changed this morning. Stocks finished last week higher.

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

Following a phone call with Russian President Vladimir Putin, President Donald Trump on Friday said that Moscow would supply more than 4 million tons of diesel to the global market. The deal comes as Trump faces pressure to bring Americans relief at the pump before the midterm elections, but analysts are skeptical the agreement will lead to lower prices.

Independent evaluators once occupied a quiet corner of the artificial intelligence world. Now, as safety concerns mount, they're being tapped to help get the industry on the right track.

AI titans are turning to third-party evaluators such as Model Evaluation and Threat Research (METR) and Transluce to monitor their models. As CNBC's Ashley Capoot reports, the role of these organizations has become even greater in the absence of a federal government safety framework.

Speaking of AI safety: Microsoft CEO Satya Nadella became the latest industry leader to voice concern over AI risks, writing on social media Saturday that the technology needs an "emergency brake." Nadella said models should be built with containment and independent controls.

The Justice Department is investigating whether the White House television press pool violated antitrust laws by suspending their coverage of Trump when the president banned CNN, MS NOW and Politico from accessing the White House.

The DOJ said it is looking at whether the press pool's pause in coverage broke the Sherman Act, a federal law prohibiting agreements that unreasonably restrain trade. Members of the press pool — which includes CNN, Fox News, ABC, CBS and NBC — did not immediately respond to CNBC's requests for comment.

Meanwhile, Katie Zacharia, a lawyer and conservative commentator, will take over as White House press secretary today. Zacharia succeeds Karoline Leavitt, who left the Trump administration in August and is expected to begin a role at Fox News next month.

CNBC's Morning Squawk recaps the biggest stories investors should know before the stock market opens, every weekday morning.

French bond yields are trading near levels last seen in 2002. Some investors are wondering whether Italy could face a similar fate as the country considers widening its budget deficit.

The Italian government is set to present a budget that includes recently confirmed allocations for defense and energy. The new spending levels could enlarge Italy's deficit over the next two years and make its debt-to-GDP ratio the highest in Europe, according to Goldman Sachs.

As a result, Italy's government bonds could feel more pressure heading into the country's general election next year. Still, some investors see Italy as better off than France thanks to its largely domestic bond ownership.

Retailers are trying to clean up their balance sheets. To do so, many are taking products off of their shelves.

As CNBC's Ryan Baker writes, less inventory can help businesses stabilize sales and reduce the likelihood of ending up with a glut of product. But on the other hand, fewer items leaves shoppers with fewer choices.

That's a compromise many well-known retailers have made amid surging energy and food prices. Brands from Dollar General to BJ's Wholesale Club to Lululemon have all announced plans to reduce the number of products they sell.

Here's what we're watching this week:

— CNBC's Spencer Kimball, Kevin Breuninger, Garrett Downs, Elsa Ohlen, Deena Zaidi, Mike Sheen, Sean Conlon, Ashley Capoot, Greg Iacurci, Liz Napolitano, Terri Cullen, Hugh Leask and Ryan Baker contributed to this report.

Caleigh Keating assisted in the production of this newsletter. Josephine Rozzelle edited this edition.

Disclosure: CNBC and MS NOW are divisions of Versant Media.