5 Things to Know Before the Stock Market Opens

Stock futures are inching higher after major indexes closed at record highs yesterday amid optimism about trade talks between the U.S. and China; Amazon is eliminating 14,000 corporate positions; the Federal Reserve is scheduled to begin its two-day policy meeting, with investors expecting the central bank will cut interest rates; UnitedHealth shares are rising after the health insurer raised its full-year outlook; and UPS stock is surging following better-than-expected results from the shipping giant. Here’s what you need to know today.

1. Stock Futures Inch Higher, Gold Continues Sliding

Stock futures are slightly higher this morning after major indexes hit record highs to start the week amid optimism that the U.S. and China would strike a trade deal during meetings later this week. Investors are digesting a barrage of earnings reports from major companies and preparing for a decision on interest rates from the Federal Reserve, which kicks off its two-day policy meeting today and is widely expected to trim its benchmark rate. Futures tied to the Dow Jones Industrial Average were up 0.4% recently, while those linked to the benchmark S&P 500 and the tech-focused Nasdaq added 0.1%. Gold prices were down 2% at $3,940 an ounce, trading at their lowest levels since early this month after hitting a record high of near $4,400 last week. The yield on the 10-year Treasury note, which can affect borrowing costs on all sorts of consumer loans, slipped to 3.98% at yesterday’s close. Bitcoin ticked lower to $114,500.

2. Amazon to Cut 14,000 From Corporate Workforce as Tech Layoffs Continue

Amazon (AMZN) will slash about 14,000 corporate roles, the company said in a blog post published Tuesday morning, citing advancements in artificial intelligence. “This generation of AI is the most transformative technology we’ve seen since the Internet, and it’s enabling companies to innovate much faster than ever before (in existing market segments and altogether new ones),” wrote Beth Galetti, Amazon’s senior vice president of people experience and technology. “We’re convicted that we need to be organized more leanly, with fewer layers and more ownership, to move as quickly as possible for our customers and business.” News reports on Monday said Amazon was preparing to lay off 30,000 corporate employees.  Amazon is the nation’s second-largest employer, with more than 1.5 million staffers across the globe, mostly in warehouse positions. The company has around 350,000 corporate staffers. The layoffs come as Oracle, Microsoft, Alphabet, and other tech firms have announced workforce reductions.  Amazon shares were up less than 1% in premarket trading.

3. Federal Reserve Begins Meeting Ahead of Expected Interest Rate Cut

The Federal Reserve’s policy committee is scheduled to begin its two-day meeting today amid expectations it will vote to cut interest rates for the second time this year. Most analysts and investors expect the Federal Open Market Committee to reduce the federal funds rate by a quarter point to a range of 3.75% to 4%. Before cutting the key rate at its meeting last month, the Fed had kept rates elevated in an effort to drive down inflation, which has remained stubbornly above the central bank’s target of 2%. However, a weakening labor market has raised concerns among Fed officials, who believe that lower interest rates can help spur job creation. Investors are also expecting the FOMC to cut interest rates at its December meeting, according to the CME FedWatch tool. The FOMC will announce its decision at 2 p.m. ET on Wednesday, followed by a press conference with Fed Chair Jerome Powell.

4. UnitedHealth Group Shares Rise on Earnings Beat, Improved Outlook

UnitedHealth Group (UNH) shares are rising in premarket trading after the healthcare insurance provider reported better-than-expected earnings and raised its annual profit forecast. UnitedHealth said revenue in the third quarter rose 12% to $113.2 billion, just shy of analyst estimates compiled by Visible Alpha, while adjusted earnings per share were $2.92, topping estimates. The insurer also raised its 2025 full-year outlook to at least $16.25 per share. Shares of UnitedHealth Group, which through Monday’s close had lost more than quarter of their value so far in 2025, rose about 5% ahead of the opening bell.

5. UPS Stock Jumps on Strong Earnings Report

Shares of United Parcel Service (UPS) are soaring after the shipping giant reported strong third-quarter results and provided guidance for the fourth quarter. UPS reported third quarter revenue of $21.4 billion, ahead of the $20.9 billion that analysts tracked by Visible Alpha were expecting, while its adjusted earnings per share of $1.74 came in above expectations of $1.31. The company also projected $24 billion in fourth-quarter revenue and an adjusted operating margin of between 11% and 11.5%. The guidance comes after UPS pulled its full-year outlook amid uncertainty over tariffs. UPS shares, which were down nearly 30% since the start of the year coming into today’s session, were up 12% in recent premarket trading.