5 things to know before the stock market opens Tuesday

Happy Tuesday. If you’re feeling inflation’s pinch, you’re not alone: Manufacturing sector managers are comparing current pricing volatility to the Covid pandemic era.

Stock futures are rising this morning as investors look to build on Monday’s gains.

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

A rebound in Big Tech stocks paired with falling oil prices helped power a market rally yesterday. The Dow Jones Industrial Average‘s nearly 700-point surge brought the blue-chip index to a new record close.

Here’s what to know:

Shares of McDonald’s are higher before the bell after the fast-food giant reported mixed results for the second quarter, beating analysts’ earnings estimates but missing on revenue.

The company said its U.S. same-store sales rose just 0.8% in the period, as higher average checks were offset by declining traffic. McDonald’s this morning named 26-year company veteran Skye Anderson president of its U.S. business as it looks to accelerate domestic growth.

“While our playbook is working around the world, we see an opportunity to raise the bar in the U.S. and accelerate performance in our largest market,” CEO Chris Kempczinski said in a statement.

Representatives for artificial intelligence companies will meet with the Trump administration today about a new framework for reviewing cybersecurity capabilities of advanced models. A White House official confirmed the meeting to CNBC.

The gathering comes two weeks after OpenAI disclosed that its agents hacked Hugging Face’s systems, raising concern about the cyber threats AI models could pose.

Speaking to CNBC yesterday, Hugging Face CEO Clément Delangue also warned that China is leading the U.S. in the AI race. Chinese tools, he said, could be as good as those of U.S.-based frontier labs as soon as the end of this year.

Michigan authorities reported two deaths from the cyclospora outbreak yesterday, the first fatalities tied to the outbreak.

Both individuals had “significant underlying health conditions,” according to the Michigan Health Department. State health officials noted that the parasite is not typically considered life threatening and fatalities from cyclospora are unusual in the U.S.

Michigan has been the hardest hit by the outbreak, reporting more than 11,000 cases and almost 200 hospitalizations. The state’s numbers outpace those published by the Centers for Disease Control and Prevention.

As CNBC’s Michael Wayland reports, a growing group of automakers are betting that American consumers are now willing to consider tinier vehicles as an affordable option for short distances. Stellantis and other carmakers are focusing on electric low-speed vehicles, which aren’t technically cars. LSVs are more advanced than golf carts, but a step below light-duty cars or trucks in the U.S.

The vehicles are loosely regulated compared to light-duty models and have also received attention from Trump. Speaking at a General Motors facility last week, the president said, “I go over to Europe and I see these little cars all over the place and I say, ‘Why aren’t we making them?'”

After ExxonMobil and Chevron reported banner second-quarter profits amid volatile oil prices, Trump said yesterday that he felt the companies were benefitting too greatly. Here’s what he told reporters at the White House:

— CNBC’s Liz Napolitano, CJ Haddad, Sawdah Bhaimiya, Lora Kolodny, Sarah Min, Samantha Subin, Luke Fountain, Megan Cassella, Amelia Lucas, Michael Wayland and Spencer Kimball contributed to this report.

Luke Fountain assisted in the production of this newsletter. Josephine Rozzelle edited this edition.