5 things you need to know before the stock market opens on Wednesday, June 14

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

The consumer price index had its say. Now it’s the turn of the Federal Reserve. The central bank’s policy-making council will announce its next interest rate decision on Wednesday. Virtually everyone expects Fed Chairman Jerome Powell and his team to keep benchmark rates stable, especially after Tuesday’s CPI report showed inflation slowing to 4% year on year. That’s still above the Fed’s 2% target, but after more than a year of rate hikes, the market is due for a break. To follow live market updates.

amd is not a satisfied rental Nvidia have fun during the AI ​​boom in technology. AMD said on Tuesday it would begin shipping its MI300X GPU chip to some of its customers later this year. GPUs are used by companies like OpenAI to develop artificial intelligence programs. AMD CEO Lisa Su told investors that artificial intelligence is the “biggest and most strategic long-term growth opportunity.” However, AMD has a lot to make up for. Nvidia dominates the AI ​​chip environment with over 80% market share, as CNBC’s Kif Leswing points out.

Google’s new attempt to return employees to the office doesn’t make many fans. Last week, the tech giant updated its hybrid work policies to begin tracking employee badges and including attendance in performance reviews. It also said it might re-evaluate whether employees who have been given permission to work remotely will maintain that status. Google employees say the rule changes make them feel like they’re back in school all over again. “If you can’t make it to the office today, your parents should put in an absence request,” reads a top-rated meme posted on internal company site Memegen.

Expect global oil demand peak this decade as the world moves faster to electric vehicles and other technologies, according to the International Energy Agency. “The shift to a clean energy economy is gaining momentum, with global oil demand peaking before the end of this decade as electric vehicles, energy efficiency and other technologies advance,” said IEA Executive Director Fatih Birol. . In a report published Wednesday, the IEA said annual demand growth will slow dramatically from 2.4 million barrels per day this year to 400,000 barrels per day in 2028. China’s demand, which had been pent up by Covid shutdowns, will slow down faster, the desk projected. The country, one of the two most populous in the world next to India, is experiencing a rapid expansion of its EV market.

Former President Donald Trump pleaded not guilty in a federal court in Miami on Tuesday to 37 criminal charges stemming from the special counsel’s investigation into his alleged mishandling of classified government documents. The front-runner for the GOP nomination next year quickly seized the moment and turned it into a campaign opportunity, meeting supporters afterwards at a famous restaurant in Miami’s Little Havana neighborhood. By the end of the night, Trump was tearing up special counsel Jack Smith and other perceived enemies in a campaign-style speech to a cheering crowd of supporters and donors at his New Jersey golf club. He also vowed, if elected next year, to appoint a special prosecutor for President Joe Biden, even as he himself claims to be the victim of an “armed” Justice Department. Get caught up all the details of the day making history.

Rest in peace, Cormac McCarthy. The Pultizer Prize-winning author of “No Country for Old Men” died this week at the age of 89. McCarthy began publishing novels in the mid-1960s, specializing in stories from the dark side of Americana. His earlier work pulsed with graceful, poetic phrases that reminded readers of William Faulkner and Herman Melville. No other McCarthy book represented that style better than 1985’s “Blood Meridian,” a violent, biblical Western often hailed as one of the greatest works of American fiction. McCarthy used a tighter, leaner, but no less devastating style in his later work, including 1992’s “All the Pretty Horses,” which was his commercial breakthrough, and 2006’s chilling Oprah-approved post-apocalyptic novel “The Road.” (Famously reluctant to give interviews, he still granted one to the superstar talk show host.) McCarthy’s death came just months after he published his last two novels, the riveting companion pieces “The Passenger” and “Stella Maris,” which deal with themes of love, mortality, math, money , the Manhattan Project and New Orleans cuisine.

CNBC’s Alex Harring, Kif Lewing, Jennifer Elias, Ruxandra Iordache, Sam Meredith, Kevin Breuninger and Christina Wilkie contributed to this report.

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