5 things to know before the stock market opens Tuesday

Here are the most important news investors need to start their trading day:

Poor Earnings? Economic indicators pointing to recession? There is no problem. At least not yet. US stock markets are in the green so far this short-term year, holding some momentum in recent days. The Nasdaq, in particular, has shown strength though after bouncing back after a disappointing 2022 that also saw many big tech stocks decline. Several tech companies, including Dow Components Microsoft (which reports earnings after Tuesday’s bell), is cutting thousands of jobs after a pandemic-fueled hiring spree to show investors it’s serious about cutting costs. Other companies on Tuesday’s earnings docket: Verizon, Lockheed Martin, general Electric And Johnson & Johnson, Read Live Market Updates Here,

Speaking of Microsoft, the legendary tech giant is not only in news for job cuts and earnings. On Monday, it confirmed that it had indeed agreed Billions of dollars invested in OpenAILaboratory of the viral artificial intelligence program ChatGPT. Microsoft previously invested in OpenAI in 2019 and 2021, and OpenAI works closely with the company on the Azure cloud system. ChatGPT has exploded in popularity in recent months, as its near-automated ability to generate text based on prompts has got people both excited and nervous over the possibilities of an AI-powered future, adding to the utopia versus dystopia debate. adding more fuel.

Alphabet’< Google is facing a number of headaches, including questions about whether OpenAI's ChatGPT has outpaced the company's own AI initiatives. Google is also going through its biggest wave of layoffs ever. CEO Sundar Pichai took a lot of heat from employees during a company town hall on Monday to discuss the challenges. The employees pressed for details about how Google leaders decided who to lay off and how. Pichai, CFO Ruth Porat and other executives also discussed bonus cuts for executives and where the company is targeting its hiring, among other issues. Read more from CNBC's Jennifer Elias Here,

According to the proposed road map, Covid vaccines would need to be updated once a year, and most people would probably only need one shot a year Issued by the Food and Drug Administration, The FDA’s recommendation is similar to the process for selecting flu shots each year. According to the briefing document released Monday, the FDA will choose the Covid strain for the vaccine during the spring, with shots updated in September, when kids are back and at school and before the holidays and virus-friendly winter months. The FDA said that some, including elderly people and those with compromised immune systems, may need two shots a year.

Supreme Court Delay in deciding whether to take the two cases This could change the way social networks police content on their platforms. Under consideration are laws in Florida and Texas that were promoted by Republican lawmakers who accused social media companies of censoring conservatives. Two tech industry groups are challenging the laws, which they say violate the First Amendment right of companies to determine what kind of speech they allow on their platforms. Related legislation is stuck in the courts, and it will be up to the country’s highest court to decide how the debate will proceed.

— CNBC’s Jesse Pound, Ashley Capute, Jennifer Elias, Spencer Kimball and Lauren Fenner contributed to this report.

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