5 things to know before the stock market opens on Tuesday

Happy Tuesday. Today is the first day of the Federal Reserve meeting, but don’t get too excited. Interest rate decisions won’t be made until tomorrow.

Stock futures are in the red following losses on Wall Street.

Here are five important things investors need to know to start their trading day.

Stocks rebounded from their lows in yesterday’s trading, closing marginally lower as investors weighed concerns that a slowdown in artificial intelligence could be a speed bump for Wall Street.

Here’s what you need to know:

President Donald Trump on Monday vehemently rejected calls to slow down AI. In a flurry of social media posts, the president repeatedly called the backlash against AI and data centers “a hoax” and “fraud” and slammed Anthropic CEO Dario Amodei.

President Trump said the reason there are concerns about AI is because “the United States is far ahead of every other country.” He called Jensen Huang yesterday while Nvidia’s CEO was speaking at a summit and reiterated his view that the backlash against technology and data centers is a hoax.

meanwhile, microsoft has posted an interim code of conduct that places limits on future AI models. The move comes after leading AI companies Anthropic and OpenAI (both models are built into Microsoft’s Copilot assistant) called for a slowdown in AI progress.

bank of america CEO Brian Moynihan warned analysts yesterday that investment banking fees are likely to fall more than 10% year over year in the third quarter. This would be a sharp reversal from the 50% growth the bank reported in the second quarter.

Moynihan cited data from Dealogic that showed the overall investment banking market was down 10%. He said Bank of America will probably end up falling “by more than that” because it’s “not in a good position” compared to its competitors, which are “more active.”

As CNBC’s Hugh Song and Ritika Shah write, Moynihan’s weak outlook could signal that the AI-driven advice and trading boom on Wall Street is winding down. Bank of America stock fell more than 5% in Monday trading.

Ukrainian President Volodymyr Zelenskiy said yesterday that he is ready to halt attacks on Russian energy targets if Russia takes similar steps.

Zelensky’s comments came about an hour after President Trump claimed on social media that the two countries had agreed to stop meeting each other’s energy goals. President Trump blamed the recent rise in diesel prices on the Russia-Ukraine war, not the conflict between the United States and Iran.

Oil prices rose yesterday and rose further this morning.

Philadelphia is launching three new cream cheese flavors today, including Mike’s Hot Honey Whipped Cream Cheese, Salted Caramel, and Cranberry Orange. The 154-year-old brand is expected to launch 10 new models over the next two years, a significant increase from its historical average.

As CNBC’s Amelia Lucas reports, this development is part of a broader effort by the parent company. Kraft Heinz To invest in your brand and return your products to your shopping cart. Jerome Delore, Kraft Heinz’s president of taste enhancement, said the company’s goal is to “create excitement” in the cream cheese category, which is dominated by Philadelphia.

—CNBC’s Sean Conlon, Samantha Subin, Tobias Burns, Li Ying Xiang, CJ Haddad, Kevin Breuninger, Jordan Novett, Hugh Song, Ritika Shah, Spencer Kimball, Kate Keating, Amelia Lucas and Annika Kim Constantino contributed to this report.

Josephine Rozzelle edited this version.