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Happy Tuesday. Yesterday’s snowfall felt pretty idyllic, even though we didn’t actually step outside until it stopped snowing (don’t say the same to a lot of my co-workers who have snow shoveling jobs).
After a losing day, S&P 500 futures are little changed this morning.
Here are five important things investors need to know to start their trading day.
1. Manic Monday
Traders work at the opening bell of the New York Stock Exchange (NYSE) on February 20, 2026 in New York.
Timothy A. Clary | AFP | Getty Images
2. Rate status
UNITED STATES – MARCH 4: President Donald Trump speaks to a joint session of Congress at the U.S. Capitol on Wednesday, March 4, 2025. Vice President J.D. Vance (left) and House Speaker Mike Johnson (R-Louisiana) listen in the background. (Bill Clark/CQ-Roll Call, Inc, via Getty Images)
Bill Clark | Cq-roll Call Inc. | Getty Images
The Supreme Court’s tariff ruling continued to ripple through Wall Street and Washington, D.C., yesterday as economists raced to figure out what President Donald Trump’s new global tariffs would mean for the economy.
fedex yesterday filed a lawsuit against the US government seeking a “full refund” of the money it paid for the now-revoked tariffs. Friday’s decision marks the first time a major company has filed a lawsuit. Congressional Democrats are trying to force the government to refund companies that paid the tariffs.
The Supreme Court’s ruling and President Trump’s new tariffs are likely to be the subject of the president’s State of the Union address tonight, and they come as voters grow more negative about the economy under Trump’s leadership.
3. Double dipping
Lisa Su, Chairman and Chief Executive Officer of Advanced Micro Devices Inc. (AMD), during the 2026 CES event on Monday, January 5, 2026 in Las Vegas, Nevada, USA. At CES, tech industry luminaries will make the case for artificial intelligence to a target audience of investors, business customers and, perhaps just as importantly, everyday shoppers who haven’t yet fully grasped the idea of AI-infused gadgets. Photographer: Bridget Bennett/Bloomberg via Getty Images
Bloomberg | Bloomberg | Getty Images
meta This morning, they announced a multi-year deal with advanced micro device This will see the social media company deploy up to 6 gigawatts of AMD’s graphics processing units.
As CNBC’s Katie Tarasoff points out, the chip deal came just a week after Mehta signed the deal. Nvidia Use the processor. Today’s announcement is seen as a big win for AMD, which has lagged behind Nvidia in the AI chip market. AMD stock soared more than 13% in premarket trading.
AMD CEO Lisa Su will appear on CNBC’s “Squawk on the Street” at 9:30 a.m. ET to discuss the deal. Watch live on CNBC+ or CNBC Pro.
4.GLP-1 pen
Eli Lilly’s Zepbound injection pen placed in the Brooklyn borough of New York on March 28, 2024.
Shelby Knowles | Bloomberg | Getty Images
Eli Lilly Yesterday, the company launched a new version of its popular obesity drug Zepbound. This includes one month’s worth of doses in one pen.
As CNBC’s Annika Kim Constantino reports, the pen could be a more convenient alternative for patients because fewer devices would be needed each month to administer the drug. Pricing started at $299 for the lowest dose offered on the company’s LillyDirect platform.
meanwhile, novo nordisk announced yesterday that its experimental weight loss drug did not compete with Eli Lilly’s tirzepatide in trials. Novo Nordisk’s U.S. shares fell more than 16% in Monday trading, while Eli Lilly’s shares rose nearly 5%.
5. Mexico
Smoke billows in Puerto Vallarta, Jalisco state, Mexico, on February 22, 2026, amid a wave of violence, with vehicles set on fire and armed groups blocking highways in more than six states following a military operation that government officials said killed Mexican drug lord Nemesio Oseguera, known as “El Mencho.”
@morelifediares via Instagram | Reuters
Last weekend, the head of the Jalisco New Generation cartel was killed in a Mexican military operation supported by US intelligence. Violence has since erupted in several Mexican states, posing challenges to air cargo, trucking and ports.
The tourism industry has also changed completely. carnival and norwegian cruise line We have canceled our scheduled port of call in Puerto Vallarta. airbnb It has activated a “serious disruptive event policy” in Jalisco and other affected areas. The passenger airline, which carries about 50% of air cargo, canceled flights to Puerto Vallarta and Guadalajara.
daily dividend
Trading volume in leveraged funds and options has soared since the pandemic, according to Direxion data first reported by CNBC.
—CNBC’s Sean Conlon, Pia Singh, Samantha Subin, Leslie Josephs, Melissa Repko, Liz Napolitano, Justin Papp, Dan Mangan, Garrett Downs, Annika Kim Constantino, Elsa Oren, Lori Ann LaRocco, Contessa Brewer and Associated Press contributed to this report. Josephine Rozzelle edited this version.
