5 things to know before the stock market opens on Tuesday, July 16

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

The major average closed in the green on Monday. of Dow Jones Industrial Average had the biggest gains, jumping more than 200 points — or 0.53% — to 40,211.72. Not only did the blue-chip index see a record close, but it also hit a fresh intraday high during the session. of S&P 500 also touched a new intraday high, gaining 0.28% to close at 5,631.22. of Nasdaq Composite it also closed higher, advancing 0.4% to 18,472.57. Follow live market updates.

It appears that the Federal Reserve will not hold back on rate cuts before reaching its inflation target. At the Economic Club of Washington DC on Monday, Fed Chairman Jerome Powell said the central bank will not wait until inflation reaches 2% to cut interest rates. Instead, the Fed will require “greater confidence” that inflation will return to the 2% level. “The implication of this is that if you wait until inflation gets down to 2%, you’ve probably waited too long, because the tightening that you’re doing, or the level of tightening that you’re doing, is still having effects that will probably drive inflation below 2% ” said the chairman. As for the US economy, Powell added that he thought a “hard landing” was “not a likely scenario”.

Former President Donald Trump attended Day 1 of the Republican National Convention, where he was seen wearing a bandage over his right ear. This marks his first appearance since Saturday’s assassination. Next to him in the VIP box was his newly elected vice presidential pick, Ohio Senator JD Vance. Other close allies, such as conservative TV personality Tucker Carlson and House Speaker Mike Johnson, were also seen in the box. His appearance came as shares of Trump Media closed more than 30% higher in Monday’s trading session. Also Monday, Judge Aileen Cannon dismissed the classified criminal documents case against the former president. A spokesman for special counsel Jack Smith said the Justice Department will appeal the decision.

It is now uncertain whether General Motors it will actually meet its EV capacity target. According to the company’s CEO Mary Barra, it may not have the capacity to produce 1 million all-electric vehicles in North America by the end of next year. “We’re not going to get to a million just because the market isn’t developing, but it’s going to get there,” Barra said at a CNBC CEO Council virtual event on Monday. This comes after the company has reiterated for more than two years that it would have production capacity in North America as well as China by 2025. This is despite the company changing or withdrawing several EV product targets and plans in the past year.

A preview version of the new iPhone update has arrived. On Monday, Apple released a public beta version of the iOS 18 software that will launch alongside new iPhones later this year. While Apple Intelligence is not in public beta, a beta version of it will be released this fall. Until then, the company said users will be able to try it this summer. The new update comes with new versions of basic UI elements, including the lock screen, home screen, and Control Center. Apps like Photos and Messages have also been redesigned. Not only that, users will even be able to make their app icons the same color.

– CNBC’s Alex Harring, Yun Li, Jesse Pound, Rebecca Picciotto, Kevin Breuninger, April Roach, Dan Mangan, Michael Wayland and Kif Leswing contributed to this report.

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