5 things to know before the stock market opens Wednesday

Here are five key things investors need to know to start their trading day:

shares of NVIDIA And alphabet The steps that have taken artificial intelligence into the spotlight in recent times have been different. With some market watchers wondering whether Google parent will take the lead on AI, Nvidia attempted to reassure investors about its dominance in the industry.

Here is the summary:

• Shares of Alphabet hit an all-time high yesterday, the latest sign of traders’ enthusiasm following the release of the tech giant’s upgraded Gemini 3 model last week.
• Google parent’s shares also seem to be getting a boost from a report meta The company is considering purchasing AI chips.
• Meanwhile, Nvidia shares closed down more than 2% yesterday.
• AI Darling defended its technology after the Meta report, saying in a social media statement that it is “a generation ahead of the industry.”
• While Nvidia said it was a supplier to Google, the company claimed its chips were more powerful than competing products.
• Alphabet shares are up more than 1% in premarket trading. Nvidia shares, on the other hand, fell further this morning.
• Elsewhere on the AI ​​front, Ditch said yesterday that it expects a strong fourth quarter thanks to AI sales.

The recovery rally of the stock market continued yesterday also. This time, Dow Jones Industrial Average Led the charge: The blue-chip index rose more than 660 points, or 1.4%. Follow live market updates here.

Investors appear to be focused on the possibility of another interest rate cut at the Federal Reserve’s December meeting. According to CME Group’s FedWatch tool, Fed funds traders are pricing in an 84% probability of a rate cut, up from about 50% a week ago.

Fed funds futures rose after Bloomberg reported that White House National Economic Council Director Kevin Hassett – who is seen as likely to advocate for further cuts – is the frontrunner to replace Fed Chair Jerome Powell. Treasury Secretary Scott Besant told CNBC yesterday that there is a “very good chance” that President Donald Trump will announce the Fed’s next leader “before Christmas.”

According to multiple news reports, Ukraine is willing to move forward with a US-backed framework for a peace deal that would end its years-long war with Russia.

Trump said at the White House yesterday that “we are getting very close to an agreement,” adding on social media that “there remain some points of disagreement.” He said he would meet with Ukrainian President Volodymyr Zelensky and Russian President Vladimir Putin “when the agreement to end this war is final or, in its final stages.”

A Putin aide told reporters today that Russia has not officially received the revised draft of the deal, which is widely seen as favorable to Russia. US special envoy Steve Witkoff is scheduled to visit Moscow next week to meet Putin.

“The Big Short” investor Michael Burry became famous by predicting the 2008 housing crash. Now, they’ve turned their attention to a new topic: AI.

After deregistering his hedge fund Scion Asset Management, Bury launched a blog focused on why he thinks AI trading is a bubble. Key to Barry’s criticism is the skepticism of Phil Clifton, a former Scion associate portfolio manager, who believes the cost of the industry’s infrastructure construction boom is not justified.

Nvidia is pushing back. CNBC’s Yun Li reported that the chip maker quietly shared a private memo with analysts that named Bari while refuting his claims.

Homeowners are removing “for sale” signs from their yards at an unusually high rate. Redfin reported yesterday that nearly 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 Olick reports, weak demand from buyers, falling home prices and an overall sense of economic uncertainty may be contributing to sellers’ decisions. Redfin found that about 15% of unlisted homes were at risk of selling at a loss.

Also yesterday, the Conference Board said its consumer confidence index fell in November to its lowest level since April. The group attributed the decline to weak employment prospects.

, CNBC’s Kif Lacewing, Arjun Kharpal, sean conlon, jeff cox, Kevin Breuninger, Yun Lee, Holly Allitt, Diana Olick and Luke Fountain contributed to this report. Josephine Rozelle edited this edition.