5 things to know before markets open on Wednesday

Happy Wednesday. Yesterday evening, I attended a market technical event, and then went to see the “Hannah Montana 20th Anniversary Special.” You could say it’s the best of both worlds.

Stock futures rose this morning after a losing day.

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

President Donald Trump said yesterday that the United States and Iran are “currently negotiating” and that the Iranian government is “talking sense”, raising investors’ hopes that the conflict could enter its 11th hour.

Here’s what you need to know:

A New York Times report, citing unnamed officials, said the United States had sent Iran a 15-point plan to end the war. Meanwhile, the Pentagon is reportedly preparing to send thousands of soldiers from the Army’s 82nd Airborne Division to the Middle East. U.S. stock futures followed this morning’s headline gains in Asian markets with a reversal after major indexes retreated in Tuesday trading. Although war causes short-term uncertainty, JP Morgan Chase CEO Jamie Dimon said yesterday that the conflict could ultimately increase the chances of peace in the Middle East. US Treasury yields are falling this morning amid optimism about a resolution to the war. Oil futures also fell more than 5% after Iran suggested some ships could pass through the Strait of Hormuz. Follow us here for live market updates.

A jury was held in New Mexico. Meta Yesterday, the parent companies of Facebook and Instagram were awarded civil damages in a lawsuit over whether they failed to protect children on their apps from child predators. The jury said Meta should pay $375 million in damages.

Jurors who began deliberating Monday found that Mr. Mehta violated New Mexico’s tortious misconduct law. A Mehta spokesperson said: “We respectfully disagree with the verdict and will appeal.”

Meanwhile, Anthropic went to court yesterday in hopes of winning an injunction to suspend the Pentagon’s ban on its products. U.S. District Judge Rita Lin said the Pentagon’s decision “appears to be an attempt to cripple” the artificial intelligence startup.

Sora had been here for a long time, but not for long. OpenAI has announced it is shutting down its short-form video app, which reached 1 million downloads in five days after its viral debut six months ago.

As CNBC’s Ashley Caputo points out, OpenAI is looking to cut costs in preparation for a potential public offering. The company said in a social media post that it will soon share a timeline and information for preserving works created on the platform.

In other OpenAI news, CFO Sarah Friar told CNBC’s Jim Cramer last night that the AI ​​startup is raising $10 billion in additional funding from investors. “What’s really gratifying is that we were able to raise money across the ecosystem,” Frier said.

Senate Republicans and the White House appear to be nearing a deal to end the partial government shutdown. The agreement would fully fund the Department of Homeland Security, with the exception of a portion of the Immigration and Customs Enforcement budget.

A White House official told CNBC yesterday on condition of anonymity that negotiations are ongoing but that a deal “seems acceptable.” Democrats have not said whether they will approve the deal.

meanwhile, delta airlines announced yesterday that it is suspending airport escort and red coat services for members of Congress and their staff. Airlines noted that the partial shutdown has caused long lines at airports as Transportation Security Administration employees work without pay.

Latest pharmaceutical news this morning: Merck I’m buying Tern Pharmaceutical 6.7 billion dollars.

The move is Merck’s third multibillion-dollar acquisition in the last year. The New Jersey-based company is trying to build its portfolio before losing patent protection for its famous drug Keytruda in 2028.

Turns’ stock rose more than 5% before the bell, while Merck’s stock was nearly flat.

—CNBC’s Kevin Breuninger, Hugh Son, Lee Ying Shan, Jonathan Vanian, Ashley Capoot, Morgan Chittum, Justin Papp, Leslie Josephs, Dan Mangan, Angelica Peebles, Elsa Ohlen and Lola Murti contributed to this report. Josephine Rozzelle edited this version.