5 things to know before the stock market opens on Thursday

U.S. Treasury yields rose to multi-year highs yesterday, and the average of the three major stocks closed lower on concerns that the Federal Reserve would raise interest rates again later this year. of S&P500 This was the worst day in over a month. Nasdaq Composite It fell more than 1%.

Here’s what you need to know:

Chinese President Xi Jinping arrived at Joint Base Andrews in Maryland last night and was greeted by President Donald Trump on the tarmac ahead of today’s high-stakes summit. As CNBC’s Kevin Breuninger writes, the two leaders are scheduled to discuss trade, artificial intelligence and the Iran war before tonight’s state dinner.

Treasury Secretary Scott Bessent told Fox News yesterday that the United States and China have agreed to extend the trade ceasefire until January 10th. Chinese state media did not immediately draw attention to Bessent’s comments, but a spokesperson for China’s Ministry of Commerce told reporters this morning that the two countries had discussed plans to lower tariffs.

The meeting between President Trump and President Xi comes amid growing global concerns about AI, but neither party appears interested in slowing the pace of innovation. “Superintelligence (SI) is going to be a big topic of discussion, but I’d like to leave it at that. That’s also China’s position,” President Trump wrote in a post on Truth Social this morning.

A federal judge has ordered the White House to temporarily restore access to reporters from CNN, MS NOW and Politico, writing in an overnight ruling that President Trump’s ban on the three news organizations likely violates the Constitution.

In a temporary restraining order that will remain in effect for 14 days, District Judge Tim Kelly said the Justice Department’s argument that barring access to the White House “effectively protects national security, or that national security would be jeopardized if the court ordered Pass reinstated while this litigation proceeds,” “lacks factual support.”

All three news organizations reported that some of their reporters did not have immediate access to the White House this morning.

mcdonalds has announced plans to display third-party advertising on its media network, and hopes to one day turn it into a $1 billion business. The fast-food chain, which joins Amazon and Walmart in the media network game, has already started showing ads on digital drive-thru order boards in its U.S. restaurants.

However, the real situation may not be so optimistic. McDonald’s CEO Chris Kempczinski told CNBC yesterday that he doesn’t expect customer traffic to pick up or inflation pressures to ease. “We need to stop talking about it being a difficult environment and just say it’s an environment,” he said on CNBC’s “Squawk on the Streets.”

Kempczinski’s comments came as McDonald’s shared expectations for restaurant upgrades and employee training programs in an investor presentation Wednesday. Investors seemed unimpressed, with the fast-food giant’s stock closing down nearly 5%, its biggest single-day loss in more than a year.

The full Social Security retirement age is currently 67 for people born after 1960. But a bill introduced yesterday could bring the age of workers into labor-intensive jobs earlier.

Under Rep. Haley Stevens’ Blue Collar Social Security Fairness Act, eligible individuals can claim full benefits starting at age 60. The Michigan Democrat’s bill would apply to people in occupations such as construction, nursing and manufacturing, but would require the Social Security Administration to update its list of eligible roles every three years.

Social Security is the top concern among clients of CFP professionals, according to a CFP Board survey released yesterday. More than three in four CFP professionals surveyed said their clients are concerned about the long-term viability of their programs.

In their remarks to the United Nations Security Council, OpenAI CEO Sam Altman and Anthropic CEO Dario Amodei called for international partnerships to address the risks posed by AI. Mr. Altman said:

—CNBC’s Jeff Cox, Fred Imbert, Sean Conlon, Jenny Reid, Chloe Taylor, Soda Bymiya, Luke Fountain, Kai Nicole-Schwartz, Michael Weiland, Evelyn Chen, Amelia Lucas, Sam Meredith, Dan Mangan, Laurie Cornish and Ashley Caputo contributed to this report.

Josephine Rozzelle edited this version.

Disclosure: CNBC and MS NOW are divisions of Versant Media.