5 things to know before the stock market opens on Tuesday, January 24

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

Low income? Are economic indicators pointing to a recession? No problem. At least for now. US stock markets remain green for the short-lived year so far, gaining some momentum in recent days. The Nasdaq in particular has shown strength, albeit after rebounding from a dismal 2022 that also saw many big tech stocks suffer. Several technology companies including Dow component Microsoft (which reports earnings after Tuesday’s call) are cutting thousands of jobs after pandemic-driven hiring in a bid to show investors they’re serious about cutting costs. Other companies on Tuesday’s earnings list: Verizon, Lockheed Martin, General Electric and Johnson and Johnson. Read real-time market news here.

Speaking of Microsoft, the aging tech giant is in the news for more than just job cuts and revenue cuts. On Monday, he confirmed that he had indeed agreed multi-billion dollar investment in OpenAI, the ChatGPT lab, a viral AI program. Microsoft has previously invested in OpenAI in 2019 and 2021, and OpenAI is working closely with the company on the Azure cloud system. ChatGPT has skyrocketed in popularity in recent months as its near-automated ability to generate text based on clues has excited—and shocked—people about the prospects of an AI-driven future, fueling the debate about utopia and dystopia.

Alphabet’Google faces numerous headaches, including questions about whether ChatGPT OpenAI has outperformed the company’s own AI initiatives. Google is also experiencing the biggest wave of layoffs. CEO Sundar Pichai weathered a lot of criticism from employees during a company-wide meeting on Monday to discuss the issues. Employees demanded details about how Google executives decided who to fire and how. Pichai, CFO Ruth Porat and other executives also discussed cutting executive bonuses and what the company is aiming for when hiring, among other things. Learn more from CNBC’s Jennifer Elias here.

According to the proposed roadmap, Covid vaccines would likely need to be renewed once a year, and most people would also likely only need to be vaccinated once a year. issued by the Food and Drug Administration. The FDA’s recommendation is similar to its annual flu shot screening process. The FDA will select a Covid strain for a vaccine in the spring, just in time for updated vaccines to be released in September, when kids return to school, and ahead of the holidays and virus-friendly winter months, according to a briefing document released Monday. . Some, including older people and people with weakened immune systems, may need two shots a year, according to the FDA.

Supreme Court postponed a decision on two cases that could ultimately change how social networks control content on their platforms. We are talking about the laws of Florida and Texas, initiated by Republican lawmakers who accused social networks of censoring conservatives. Two tech industry groups are challenging the laws, saying they violate companies’ First Amendment right to determine what speech they allow on their platforms. The relevant laws are being considered in the courts, and the country’s highest court must decide how the debate will develop.