5 things to know before the stock market opens on Friday

Happy Friday. In today’s issue, we bring you an update on the debate over whether we should slow down the development of artificial intelligence. There may even be lessons to be learned from one Oscar-winning film.

Stock futures were little changed this morning after the market ended its losing streak.

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

Warren Buffett, who led Berkshire Hathaway for more than 60 years, announced this morning that he will step down as chairman of the conglomerate. The legendary investor will become chairman emeritus and remain on Berkshire’s board of directors, with his son Howard succeeding him as chairman.

“Father Time always wins,” Buffett, 96, wrote in a letter to shareholders. “But he was generous with me and gave me the opportunity to see Berkshire get to a point where I’m more confident than ever about what’s going to happen.”

Friday’s announcement comes less than a year after Greg Abel replaced Buffett as Berkshire’s CEO. But as CNBC’s John Meloy points out, Buffett has remained actively involved in the conglomerate’s operations. Under Mr. Buffett’s decades-long leadership, Berkshire has posted a compound annual shareholder return of 19.7%, nearly twice that of the S&P 500.

Concerns over the safety of advanced artificial intelligence models have been in the spotlight this week as more and more leaders from Silicon Valley to Washington, D.C. weigh in on regulatory discussions.

Here’s the latest information:

Palantir CEO Alex Karp became the latest executive to weigh in on calls for AI regulation, telling CNBC he believes “reasonable guidelines” are needed. He also said AI companies should be nationalized due to the “unlimited risks” and liability of their technology. Late Thursday, Anthropic shared three metrics said to help AI companies monitor the pace of development, responding to CEOs’ calls for the industry to slow down. Despite urgent calls from AI leaders for more regulation, the House adjourned until after the midterm elections, all but guaranteeing no action on the issue until November. Meanwhile, a bipartisan bill aimed at capping data center-related utility price hikes has stalled in the Senate, and the debate over AI regulation doesn’t appear to be a hindrance to demand. Nvidia CEO Jensen Huang said Thursday that the company’s chip sales will double next year. Don’t miss CEO Mustafa Suleiman. microsoft AI, 8:45 a.m. ET on CNBC’s “Squawk Box.” Watch live on CNBC or CNBC+.

The 2027 model year will be another year defined by the “truck wars.” This time we will focus on the V8 engine.

general motors This week it announced an improved petrol engine and a class-specific diesel option. ford Engine products have also been updated, StellantisRam has announced a return to Hemi V-8 engines.

As CNBC’s Michael Weiland writes, attracting buyers for heavy-duty trucks is a big gamble for automakers. Car sales tend to pay a company’s bills and provide funding for investments in emerging markets and technology.

In some areas of the retail industry, walls are coming down, at least in the minds of consumers. New research shows that consumers now view beauty, health and wellness as one big category rather than three smaller ones.

The AlixPartners-led survey also found that 40% of consumers want traditional beauty companies to expand their product offerings. But companies aren’t necessarily on the same page, with 42% of executives saying they want their companies to stick with their current operations.

“What we’re finding from the data is that consumers are just as likely to trade a night cream for another night cream as they are for a personal trainer,” Lindy Firstenberg, co-head of the company’s beauty, health and wellness practice, told CNBC’s Raya Neelakandan. “Anything related to beauty, health and wellness is within the scope of consideration.”

Here are some articles you may have missed this week.

—CNBC’s Zev Fima, John Melloy, Samantha Subin, Ashley Capoot, Kif Leswing, Garrett Downs, Justin Papp, Sean Conlon, Spencer Kimball, Michael Wayland, Tanaya Macheel, Liz Napolitano and Laya Neelakandan contributed to this report.

Josephine Rozzelle edited this version.