5 things to know before markets open on Wednesday

Good morning and happy tax day. As of last week, the average tax refund this year was more than 10% higher than the same period last year, according to IRS data.

S&P500 Futures were little changed this morning after the index posted its ninth positive session in a decade yesterday.

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

All three major indexes rose for the second day in a row yesterday as traders maintained hopes for a peace deal between the US and Iran. With Tuesday’s rise, S&P500 It reached near-all-time highs, helped by gains in tech stocks.

Here’s what you need to know:

President Donald Trump said in a Fox Business interview aired this morning that the Iran war is “very close to being over” and predicted the stock market would be “booming” once the conflict ends. A White House official told CNBC yesterday that a second round of talks between the United States and Iran is being discussed after last weekend’s failed peace talks. Oil prices fell on the prospect of restarting negotiations. Yesterday, US crude oil futures closed down nearly 8%. Investors are focused on traffic in the Strait of Hormuz, but CNBC’s Brian Sullivan today explained in a new Power Insider newsletter why the passage isn’t as important as you might think. oracle The stock ended Tuesday’s trading up nearly 5%, extending gains seen in Monday’s extended trading. bloom energy. shares of Nvidia It rose for 10 consecutive days. This is the stock’s longest winning streak since 2023. Follow live market updates here.

bank of america and morgan stanley Banks’ strong financial results continued this morning.

Bank of America shares rose 1.2% in premarket trading after the company beat expectations on both fronts and reported its best earnings per share in nearly 20 years, driven by solid stock sales and trading. CEO Brian Moynihan will appear on CNBC’s “Squawk on the Street” at 10:15 a.m. ET. Watch live on CNBC+ or CNBC Pro stream.

Morgan Stanley also beat analysts’ expectations, sending its stock up nearly 3% before the bell. The bank announced a 16% year-on-year increase in revenue, driven by increases in its trading, investment banking and wealth management divisions.

shares of broadcom It rose more than 3% in subsequent extended trading. meta Yesterday, it announced an expansion of its partnership with chip manufacturers. The deal included Meta’s commitment to deploy 1 gigawatt of custom AI chips supported by Broadcom technology.

The companies also announced Tuesday that Broadcom CEO Hock Tan will not seek re-election to Mehta’s board and will instead transition to an advisory role.

Last month, Meta announced a new version of its in-house training and inference accelerator chip. As CNBC’s Katie Tarasoff and Jordan Nobe point out, hyperscalers are building their own alternatives to expensive and constrained U.S. chips. Nvidia and AMD.

Kalsi is launching a charm offensive in the nation’s capital as members of Congress introduce legislation to regulate prediction markets.

The company opened an office in Washington, D.C., in January and recently launched an advertising campaign in the city with billboards touting its prohibition on insider trading and compliance with U.S. laws. As CNBC’s Justin Papp and Garrett Downs report, the ad isn’t just an effort to fend off criticism. It also appears to be aimed at differentiating Karshi from its global competitor Polymarket.

Lawmakers have introduced at least eight bills this year focused on reining in prediction markets. The sites, which are estimated to have around $1 trillion in trading volume by 2030, according to one company, have come under intense scrutiny following incidents of alleged insider trading and betting on controversial issues like the Iran war.

Disclosure: CNBC and Kalsi have a commercial relationship that includes a minority investment in CNBC.

united airlines CEO Scott Kirby has reportedly proposed a merger with the company. american airlines Despite a request from the Trump administration earlier this year, experts are almost certain the partnership will not go over well with regulators.

As CNBC’s Leslie Josephs reports, a merger between United Airlines and American Airlines would create the world’s largest airline. According to aviation data firm OAG, the new company will boast about 40% of domestic flight capacity. Partnerships could also lead to higher fares, giving airlines better control over capacity.

Still, the Trump administration has shown an openness to mergers in this area. “There is room for consolidation in the airline industry,” Transportation Secretary Sean Duffy told CNBC’s Phil LeBeau last week.

If Kevin Warsh is confirmed by the Senate, he would become the richest Fed chairman in recent history. His financial disclosure form, released Tuesday, shows:

Mr. Warsh’s approximate holdings: $135 million – $226 million Mr. Warsh and his wife’s approximate holdings: More than $192 million

— CNBC’s Kate Doerr, Sean Conlon, Lisa Kai-Lai Hung, Holly Ellyatt, Kevin Browninger, Mike Sheen, Li Ying Xiang, Spencer Kimball, Brian Sullivan, Leslie Picker, Hugh Song, Katie Tarasoff, Samantha Subin, Jordan Novett, Justin Papp, Garrett Downs, Davis Giangiulio, Leslie Josephs and Matt Peterson contributed. to this report. Melody Warner edited this version.