5 things to know before the market opens on Tuesday

Happy Tuesday. President Donald Trump is scheduled to participate in a live interview on CNBC’s “Squawk Box” this morning at 8:30 a.m. ET. Watch live on CNBC or CNBC+.

Stock futures are rising after a selloff on Wall Street.

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

apple made a surprising announcement last night. John Tarnas, the company’s head of hardware, will replace CEO Tim Cook in September. Mr. Cook will move to executive chairman.

Investors told CNBC they were shocked by the announcement but took Apple’s decision to hire an executive focused on hardware as a positive sign. As CNBC’s Jennifer Elias points out, Telnas inherited Apple’s artificial intelligence problems. Wall Street widely views Apple as lagging behind its mega-cap peers in AI. Bridging this gap will be a defining challenge for the company’s new chief.

Apple shares fell in after-hours trading, putting the iPhone maker’s modest 2026 profits at risk. Since Cook took over from Steve Jobs in 2011, the company’s stock has soared more than 1,930%.

Speaking of successors, today is Kevin Warsh’s big day in Washington, DC. President Trump’s nominee to replace Jerome Powell as Federal Reserve Chairman is scheduled to appear before the Senate Banking Committee this morning for a confirmation hearing.

Here’s what you need to know:

In remarks released ahead of the hearing, Warsh said the Fed should maintain independence from political influence, but on several conditions. He added that the Fed “must stay in its lane” and avoid shifting toward fiscal or social policy. “Simply put, the Fed’s independence depends primarily on the Fed,” he added. Mr. Warsh will have to walk a fine line between supporting Mr. Trump’s push to lower interest rates and showing that his monetary policy decisions are not influenced by political pressure. At this morning’s hearing, the former Fed director is likely to face questions about his Silicon Valley ties and wealth. Thom Tillis, RN.C., vowed not to support Warsh’s confirmation until the criminal investigation against Powell is resolved. Follow here for updates on the hearing.

of Nasdaq Composite Yesterday, the longest winning streak since 1992 came to an end. of S&P500 It also fell in Monday’s trading, with the composite index trading in negative territory for the first time in six years.

President Trump’s threat to use military force against Iran ahead of tomorrow’s expiration of the cease-fire led to the decline, adding uncertainty to the stock market once again. Sources told CNBC yesterday that a U.S. delegation is “planned to head to Islamabad soon” for further peace talks, although it remains unclear whether Iran will participate.

However, small-cap stocks bucked the downtrend. russell 2000 Update the highest price during the day, and update the highest price at the closing price. Follow live market updates here.

shares of united health group The company soared more than 7% this morning after reporting strong first-quarter sales and bottom line results and raising its 2026 profit outlook.

A key metric supporting the nation’s largest insurer was improved control of medical costs, which have skyrocketed in recent years. The company’s medical benefit ratio (an indicator that compares medical costs to insurance premiums collected by insurance companies) also fell in the first quarter. Typically, the lower the ratio, the higher the insurance company’s margin.

The report builds on an already strong April for UnitedHealth after the government confirmed that Medicare Advantage plans’ 2027 payment rates will be higher than expected. As of Monday’s close, the stock had risen nearly 20% this month.

Investors are excited about psychedelic drugs after President Trump signed an executive order accelerating research and access to drugs such as psilocybin, MDMA and ibogaine. compass route The stock rose 42% yesterday, its best day ever. Atai Beckley Stocks rose more than 21%, their best day since July.

The question now, as CNBC’s Brandon Gomez points out, is whether psychedelics will face the same bureaucratic challenges as cannabis. Sean Hauser, a partner at cannabis law firm Vicente LLP, called the government’s review process “slow and frustrating.”

U.S. importers could receive more than $160 billion in tariff refunds after the Supreme Court struck down many of President Trump’s penalties in February. Here’s how much profit some big retailers could make, according to Citi.

— CNBC’s Jonathan Vanian, Jennifer Elias, Kif Leswing, Jeff Cox, Matt Peterson, Sean Conlon, Kevin Browninger, Brandon Gomez, Jennifer Elias, Annika Kim Constantino and Tobias Burns contributed to this report.

Davis Giangiulio helped produce this newsletter. Josephine Rozzelle edited this version.