5 things to know before the stock market opens on Wednesday

Semiconductor stocks fell on the global market yesterday, with the following names coming up: micron and intel Amid the artificial intelligence infrastructure boom, we’d like to share with you some of our recent big achievements. The decline cast a dark cloud over Wall Street, and investors began looking for safe havens in the stock market.

Here’s what you need to know:

President Donald Trump said this morning that Iran had told the United States that there would be no tolls through the Strait of Hormuz and that there would be no insurance premiums or “fees of any kind” for ships crossing the sea lanes. “If this is false information, negotiations will end immediately,” the president said in a post on Truth Social.

Meanwhile, Treasury Secretary Scott Bessent told CNBC’s “Squawk Box” that his department will oversee frozen Iranian funds that are scheduled to be released under the agreement between the U.S. and Iranian governments. Some Republicans in Congress oppose the deal, which includes plans to unfreeze funds and lift sanctions, because they fear it makes too many concessions to Iran.

All this happened after the Senate yesterday narrowly adopted the Iran War Powers Resolution, which calls for a cessation of U.S. hostilities. The resolution never made it to Trump’s desk or became law, making the unusual bipartisan rebuke of Trump purely symbolic.

Looking for insight into how Federal Reserve Chairman Kevin Warsh plans to reshape the central bank? The search for the next Atlanta Fed president could provide some clues.

Candidates for the position, which will be voted on next year by the FOMC, were previously considered under former Chairman Jerome Powell. But as CNBC’s Matt Peterson and Steve Reisman reported, the process was paused in part so Warsh could oversee the selection, according to two people familiar with the matter.

Officials told CNBC that former Trump official Michael Faulkender was subsequently considered by The Atlanta Post. It’s unclear whether Faulkder, who served as deputy Treasury secretary last year and then briefly became acting IRS commissioner, is still a candidate.

shares of cerebrum Shares fell 10% in pre-market trading after the AI ​​chip maker released its first earnings report since going public last month.

The company said sales in the first quarter rose 92% from a year ago, but a weak outlook for gross profit margins weighed on investors. Cerebras said it expects core gross profit margin to be 36-38% in the second quarter, down from 46.5% in the previous three months.

Speaking of recent IPOs; space x The stock closed 1% higher yesterday, ending a three-day losing streak. The stock has attracted the attention of short sellers, but as CNBC’s Yun Lee reports, many are still hesitant to bet on Elon Musk.

The PGA Tour is entering a new chapter, and golf fans can finally see what’s changing.

As CNBC’s Dominic Chu reports, the new format will feature two separate tournament series separated by level of play, rather than one major tour schedule. The tour also plans to bring back the playoff event as a “match play” instead of a “medal play” where the winner will be decided through head-to-head competition.

PGA Tour CEO Brian Rolup said the organization is preparing changes for the 2028 season. The announcement was made ahead of this week’s Travelers Championship in Connecticut.

S&P Global announced yesterday that U.S. factory layoffs are nearing the highest level seen in 2009 and during the pandemic.

—CNBC’s Sean Conlon, Lisa Han, Luke Fountain, Sam Meredith, Matt Peterson, Steve Reisman, Jordan Nove, Kai Nicole-Schwartz, Yun Li, Dominic Chu and Jeff Cox contributed to this report. Josephine Rozzelle edited this version.