5 things to know before the stock market opens on Tuesday

Happy Tuesday. Those with a sweet tooth may need to prepare for sticker shock as cocoa prices start to rise again.

Stock futures rose this morning following the win on Wall Street.

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

After numerous rejected takeover bids, a dramatic bidding war, and the settlement of an antitrust lawsuit, paramount skydance $110 billion acquisition warner bros discovery We are scheduled to close today. Once the deal closes, the integrated media giant will be known as Skydance and trade under the ticker symbol “SKYD.”

Here’s what you need to know:

The deal’s completion comes just over a year after the David Ellison-run company set its sights on Hollywood, with Paramount acquiring all of WBD, including its cable television network, streaming services and movie studio. Ellison announced last week: mattelInon Kreiz will become co-CEO of the soon-to-be-combined entertainment company. As CNBC’s Sarah Witten writes, Kreitz has roots in entertainment and a reputation as a turnaround man. The pair then announced Skydance’s leadership team, specifically retaining Bari Weiss and Mark Thompson in top positions at CBS News and CNN, respectively. TNT Sports Chairman and CEO Louis Silberwasser will leave the combined company, sources told CNBC’s Alex Sherman.

Senior executives from some of Silicon Valley’s biggest AI companies testified yesterday at a New York City Council hearing about AI and its safety plans. Alice Friend, Google’s director of AI and emerging technology policy, said she supports a “comprehensive” federal framework to address concerns around AI safety.

It wasn’t just executives who testified. A former AI researcher who has warned of the risks of the technology also spoke at the council meeting. Former Google DeepMind researcher Alex Turner warned that “misaligned” AI could be more dangerous than competition with China, saying, “We are competing to build and grow our own adversaries here at home.” Humanity whistleblower Jacob Coxon said the technology industry’s approach to development was “extremely reckless”.

Congressman Don Davis is seeking to ban candidates for federal office from trading in prediction market contracts related to their race. The North Carolina Democratic Party’s No Betting on Your Own Race Act, introduced yesterday, would subject violators to fines of $10,000 or three times the net financial gain of the transaction.

Prediction market platforms are already trying to prevent candidates from betting on their own races over insider trading concerns. Notably, in November, Davis’ Republican nominee, Laurie Buckhout, settled with prediction market platform Carsi in August after it was revealed that she had been trading in contracts related to her candidacy.

Elsewhere in politics, crypto’s largest political funding network made its first major foray into the House midterm elections on Monday. FairShake and its affiliated super PAC announced support for 19 Republicans and 13 Democrats in November, aiming to maintain a pro-crypto coalition in Congress.

Women’s sports are booming. One bar in Portland, Oregon is ready to tap into capital.

Sportsbra, which broadcasts only women’s sports, has generated more than $1 million in annual revenue since opening in 2022. Owner Jenny Nguyen launched a crowdfunding effort earlier this year to move into a larger space and create a franchise model. Her campaign raised more than $1 million in about two months.

As CNBC’s Tom Huddleston Jr. writes, Nguyen hopes to open as many as 40 franchised stores by 2030. She said The Sports Bra already has franchisees in five cities: Boston, Las Vegas, Indianapolis, St. Louis and Portland, Maine.

— CNBC’s Catriona Marangi, Alex Sherman, Lillian Rizzo, Raya Neelakandan, Maggie Ross, Liz Napolitano, Laura Kolodny, Anique Bao, Ashley Caputo, Samantha Subin, Davis Giangiulio, Luke Fountain, Tom Huddleston Jr. and Michael Weiland contributed to this report.

Caleigh Keating helped produce this newsletter. Josephine Rozzelle edited this version.