5 Things to Know Before the Stock Market Opens

Stock futures are ticking higher this morning as the market looks to rebound from a recent slump fueled by concerns about an AI bubble; memory chip maker Micron Technology is slated to release its quarterly results after the closing bell; OpenAI is reportedly in talks to get $10 billion or more in new investment from Amazon; Tesla shares come into today’s session fresh off their first record closing high in a year; and Warner Bros. Discovery is urging its shareholders to reject the takeover offer from Paramount Skydance. Here’s what you need to know today.

Stock futures are pointing to a slightly higher open for major indexes on Wednesday. Futures tied to the Dow Jones Industrial Average and the benchmark S&P 500 index, which have closed lower the past three sessions, were recently up 0.2%. Nasdaq futures were also up 0.2% after the tech-heavy index ticked higher yesterday to snap a three-day losing streak. Oil prices are surging this morning—WTI crude futures were up 2% at $56.50 per barrel— as the Trump administration’s blockade of Venezuelan oil tankers could affect supply. Gold futures were up 0.4% at $4,350 an ounce recently, once again nearing a record high. Bitcoin is trading around $87,000, little changed from its levels yesterday afternoon. The yield on the 10-year Treasury note, which affects borrowing costs on all sorts of loans, was at 4.18%, up from 4.15% at yesterday’s close.

Micron Technology (MU) is set to release quarterly results after the closing bell today, with analysts expecting the company to report big jumps in revenue and profits. Demand for the memory components that Micron makes and sells to other chipmakers such as Nvidia (NVDA) has grown substantially as companies look to buy up the newest hardware that can be used to train and run AI models. That surge in demand has created a shortage in the memory sector, which has driven prices to new heights, a trend that has boosted Micron’s performance. Micron shares have stumbled since hitting a record high a week ago, pulled down by the broader concerns about the AI trade, but remain one of the top-performing stocks in the S&P 500 this year, up about 175%. The stock was up 2% in recent premarket trading.

Amazon (AMZN) is in talks with OpenAI to invest $10 billion or more in the maker of ChatGPT, according to various reports. Under the potential deal, first reported by The Information, OpenAI would buy some of Amazon’s custom AI chips. The deal would likely value OpenAI above its last valuation of $500 billion. The talks reportedly started in October, weeks after OpenAI completed its corporate restructuring with an agreement with Microsoft (MSFT), its largest investor, that made it easier for OpenAI to seek funding from a range of companies, including others in the AI sector. OpenAI has signed over $1 trillion in agreements to buy chips and computing power, including from Amazon Web Services. However, ChatGPT and OpenAI’s other products don’t generate nearly enough revenue to cover those commitments, leaving the company likely to continue pulling in money from investors and lenders in the years to come. Amazon shares were up more than 1% ahead of the opening bell.

Tesla (TSLA) shares are little changed this morning after closing Tuesday at their first record high since last December. Investors are focusing on the potential of the company’s non-EV businesses, from self-driving cars that can operate as robotaxis to software that could be licensed to other companies, and humanoid robots that could eventually work in factories or homes. After launching a pilot robotaxi program in Austin, Texas earlier this year with a safety monitor always in the passenger’s or driver’s seat, the company confirmed over the weekend that it is testing the vehicles’ ability to drive around Austin with no one in them. Tesla shares are up 21% since the start of 2025, and have gained nearly 130% since hitting their low for the year in early April.

Warner Bros. Discovery (WBD) told its shareholders Wednesday morning that the media conglomerate’s board is recommending that they reject Paramount Skydance’s (PSKY) $30 per share takeover offer. The company said the offer has been determined to be “not in the best interests of WBD and its shareholders and does not meet the criteria” of a superior proposal that could allow Warner Bros. Discovery out of its deal with Netflix (NFLX). Warner Bros. board chair Samuel Di Piazza called Paramount’s offer “inadequate, with significant risks and costs imposed on our shareholders.” Shares of Warner Bros. Discovery and Paramount Skydance’s each declined Wednesday morning, while Netflix stock was up nearly 2%.

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