5 things to know before the stock market opens on Wednesday

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

shares of Nvidia and alphabet Opinions are divided these days, as the latter is in the spotlight of artificial intelligence. While some market players have questioned whether Google’s parent company will take the lead in AI, Nvidia sought to reassure investors of its dominance in the industry.

Here’s an overview:

Alphabet stock rose to an all-time high yesterday, the latest sign of traders’ excitement following the launch of the tech giant’s upgraded Gemini 3 model last week. Google’s parent company’s stock price also appears to have risen due to the following reports: Meta is considering purchasing the company’s AI chips. Meanwhile, Nvidia stock closed down more than 2% yesterday. The AI ​​darling defended its technology in the wake of the meta report, saying in a social media statement that it is “a generation ahead of the industry.” Nvidia said it is a supplier to Google, but argued that its chips are more powerful than competitors’ products. Alphabet stock is up more than 1% in premarket trading. Meanwhile, NVIDIA stock fell further this morning. Other aspects of AI include: Dell said yesterday that it expects a strong fourth quarter thanks to AI sales.

The stock market recovery rally continued yesterday. This time, Dow Jones Industrial Average Leader: The blue-chip index rose more than 660 points (1.4%). Follow live market updates here.

Investors appear to be focused on the prospect of further interest rate cuts at the US Federal Reserve’s December meeting. Federal funds traders are pricing in an 84% chance of a rate cut, up from about 50% just a week ago, according to CME Group’s FedWatch tool.

Federal funds futures rose after Bloomberg reported that National Economic Council Chairman Kevin Hassett, who is seen as likely to push for further interest rate cuts, is the frontrunner to replace Federal Reserve Chairman Jerome Powell. Treasury Secretary Scott Bessent told CNBC yesterday that it is “very likely” that President Donald Trump will announce the Fed’s next leader “before Christmas.”

According to multiple reports, Ukraine is keen to move forward with the framework of a U.S.-backed peace deal to end its years-long war with Russia.

“We are very close to a deal,” President Trump said at the White House yesterday, adding on social media that “there are only a few differences left.” He said he would meet with Ukrainian President Volodymyr Zelenskiy and Russian President Vladimir Putin “when an agreement to end this war is final or in the final stages.”

A close aide to President Vladimir Putin told reporters today that Russia has not formally received a revised draft of the deal, which is widely seen as favoring Russia. U.S. Special Envoy Steve Witkoff is scheduled to travel to Moscow next week to meet with President Putin.

“The Big Short” investor Michael Burry rose to fame by predicting the 2008 housing crash. Now he’s turning his attention to a new topic: AI.

After deregistering his hedge fund, Scion Asset Management, Berry launched a blog focused on why he thinks AI trading is a bubble. Key to Barry’s criticism is the skepticism of former Scion Associate Portfolio Manager Phil Clifton, who believes the costs of the industry’s infrastructure boom are not justified.

Nvidia is pushing back. CNBC’s Yun Lee reported that the chipmaker secretly shared with analysts a private memo in which it cited Mr. Berry by name in rebuking him for his claims.

Homeowners are removing “for sale” signs from their yards at an alarming rate. Redfin reported yesterday that about 85,000 U.S. sellers took their homes off the market in September, the highest level for the month in eight years.

As CNBC’s Diana Orrick reports, weak demand from buyers, falling home prices, and overall economic uncertainty may be contributing to sellers’ decision to hold off. Redfin found that about 15% of delisted homes are at risk of being sold at a loss.

Also yesterday, the Conference Board announced that November’s consumer confidence index had fallen to its lowest level since April. The group cited a weak employment outlook as a factor in the decline.

—CNBC’s Kif Leswing, Arjun Kharpal, Sean Conlon, Jeff Cox, Kevin Breuninger, Yun Li, Holly Ellyatt, Diana Olick and Luke Fountain contributed to this report. Josephine Rozzelle edited this version.