Here are five key things investors need to know to start the trading day:
1. Tech support
2. OpenAI offer
Chief Technology Officer of X Elon Musk speaks onstage during the “Exploring the New Frontiers of Innovation: Mark Read in Conversation with Elon Musk” session at the Lumiere Theatre during the Cannes Lions International Festival Of Creativity 2024 – Day Three on June 19, 2024 in Cannes, France.
Richard Bord | Wireimage | Getty Images
A group of investors led by Elon Musk made a $97.4 billion offer for control of OpenAI on Monday, CNBC confirmed. But the eleven-figure bid for the nonprofit behind the AI startup was rejected by OpenAI CEO Sam Altman, who replied in an X post, “no thank you but we will buy twitter for $9.74 billion if you want.” Altman told CNBC Tuesday morning that he believes Musk’s unsolicited offer is an attempt to “slow down a competitor” and responded “not particularly” when asked how seriously he is taking the bid. Musk’s offer comes amid a bitter battle between the two tech leaders. After co-founding OpenAI with Altman as a nonprofit in 2015, Musk has since sued the company and its CEO in an attempt to keep OpenAI from converting to a for-profit corporation.
3. Steel yourself
U.S. President Donald Trump signs an executive order in the Oval Office of the White House in Washington, U.S., Feb. 10, 2025.
Kevin Lamarque | Reuters
4. Earnings pop
Coca-Cola soft drinks are offered for sale at a grocery store on December 11, 2024 in Chicago, Illinois.
Scott Olson | Getty Images
Shares of Coca-Cola climbed nearly 4% Tuesday morning after the beverage giant topped Wall Street’s earnings and revenue expectations for the fourth quarter. The company said that rising global demand for its drinks led to its net sales growing by 6% for the quarter, reporting $11.54 billion in revenue and 55 cents in adjusted earnings per share.
5. On the Hill
US Federal Reserve Chair Jerome Powell testifies before the Senate Banking, Housing, and Urban Affairs Hearings to examine the Semiannual Monetary Policy Report to Congress at Capitol Hill in Washington, DC, on July 9, 2024.
Chris Kleponis | AFP | Getty Images
Federal Reserve Chair Jerome Powell will testify before Congress Tuesday morning, beginning two days of semiannual hearings on monetary policy on Capitol Hill. Powell will first address the Senate Committee on Banking, Housing, and Urban Affairs at 10 a.m. ET on Tuesday, followed by the House Committee on Financial Services at 10 a.m. on Wednesday. The hearing comes as President Trump continues to send mixed messages about his approach to the Fed. After ripping the central bank in a Truth Social post following its decision to keep rates steady in January, Trump later approved of the Fed’s move.
— CNBC’s Pia Singh, Brian Evans, Hakyung Kim, Ari Levy, Lora Kolodny, Arjun Kharpal, Ryan Browne, Chloe Taylor, Ganesh Rao, Spencer Kimball and Amelia Lucas contributed to this report.
