Here are some of the key stories CNBC is following this hour:
The Pentagon strongly condemned North Korea's latest missile test, reaffirming the United States' "ironclad" commitment to allies like Japan and South Korea. North Korea said it successfully fired the missile on Sunday.
Palestinian group Hamas is naming Yehiya Sinwar as its new leader in the Gaza Strip. Sinwar, a top member of the Islamic militant group's armed wing and one of its most hard line figures, rejects any conciliation with Israel.
A powerful storm packing heavy winds has brought much of Maine to a standstill. The National Weather Service says up to 2 more feet of snow could fall on the region.
Playboy magazine is bringing back nude models in its upcoming issue, one year after banning naked photos in an effort to boost circulation. The change comes four months after Cooper Hefner was named Chief Creative Officer. Cooper, the son of founder Hugh Hefner, was an outspoken critic of the move to ban nude models.