This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.

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.