5 things to know before the stock market opens on Wednesday

Happy Wednesday. Air travel may be getting more expensive, but consumers at least report higher satisfaction with U.S. airports, according to a survey released today.

Stock futures are rising this morning. The three major averages are losing out again.

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

The US Federal Reserve is widely expected to raise interest rates today for the first time in more than three years. What is less certain is what Federal Reserve Chairman Kevin Warsh, who has been tight-lipped about the direction of monetary policy, will say at a press conference after the decision.

Here’s what you need to know:

Nvidia CEO Jensen Huang disagrees with Anthropic CEO Dario Amodei’s call for an antitrust exemption to help AI companies adjust to a slowdown in development. In an interview with CNBC’s Jim Cramer yesterday, he said such a move was “totally unnecessary.”

Meanwhile, OpenAI CFO Sarah Friar told CNBC that she is not worried about the impact of putting the brakes on development. “Even if it stopped today, the amount of information available around the world is enormous,” Frier said.

Tech executives were divided this week as the industry debated whether AI companies should speed up their innovation to address safety concerns. As CNBC’s Samantha Subin writes, there are two camps. On one side are President Donald Trump, Nvidia’s Huang, and former White House cryptocurrency czar David Sachs. On the other side are Anthropic’s Amodei, OpenAI CEO Sam Altman, and Elon Musk.

Energy Secretary Chris Wright told CNBC yesterday that the closure of Saudi Arabia’s vital crude oil pipeline is a “short-term, temporary interruption” that will be “measured in days.” But satellite images show damage to one of the pipeline’s pumping stations, and some experts predict repairs could take months.

On Tuesday, U.S. oil prices settled above $105 a barrel for the first time since May, despite Mr. Wright’s apparent efforts to appease investors. WTI Prices are falling this morning after reports that US crude oil inventories rose last week.

The Congressional Budget Office announced yesterday that the Iran war had cost the Pentagon $38.1 billion through August 1, or an average of $246 million a day. The bipartisan agency estimated that each additional month of fighting could cost an additional $2 billion to $3 billion.

The Senate passed a resolution yesterday blocking the transparency bill from moving forward, leaving the cryptocurrency-focused bill stalled on Capitol Hill despite months of negotiations.

Republican leaders on Sunday unveiled a new version of the bill that includes ethics restrictions focused on public officials profiting from cryptocurrency ventures. But that doesn’t seem to be enough. Democrats said they felt Republican negotiators were not receptive to their demands for measures to address cryptocurrency-related profits from President Trump and his family.

As CNBC’s Tanaya Machel and Garrett Downs point out, the law’s failure to clear procedural hurdles is a clear blow to the crypto industry. Now, the industry will likely have to wait until next year for clearer regulation.

If you were paying attention, ford Truck, I have some good news for you. In addition to expanding the availability of V-8 engines, the company announced it is reducing the entry price of its F-150 performance models for the 2027 lineup.

That doesn’t mean the trucks are cheap. Pricing for the 2027 Ford F-150 Raptor starts at $77,800, and the 2027 Tremor starts at $62,400.

Elsewhere in the automotive industry: general motors Yesterday, we announced that the Chevrolet Silverado and GMC Sierra will be the first cars to feature a new in-vehicle information and entertainment software experience. GM says rollout is expected to begin later this year.

A new report from the Census Bureau shows that Americans’ incomes increased and poverty decreased last year. Key numbers for 2025 are:

Real median household income: $87,460 Poverty rate: 10.2%

—CNBC’s Jeff Cox, Steve Reisman, Jessica Dickler, Sean Conlon, Spencer Kimball, Luke Fountain, Alexa Lomonaco, CJ Haddad, Jordan Nove, Justin Papp, Samantha Subin, Tanaya Machel, Garrett Downs, Michael Weiland and Matt Peterson contributed to this report.

Josephine Rozzelle edited this version.