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

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

low income? An economic indicator pointing to a recession? no problem. at least not. The U.S. stock market has been green so far in this short-lived year and has gained momentum in recent days.Notably, the Nasdaq is showing strength, but many big tech stocks are bouncing back after a similarly devastating 2022. Several tech companies, including Dow Components. microsoft (which reports earnings after the bell on Tuesday) is cutting thousands of jobs after a surge in pandemic-fueled jobs to show investors it’s serious about cutting costs. Other companies listed in Tuesday’s earnings report: verizon, lockheed martin, general electric When Johnson & JohnsonRead live market updates here.

Speaking of Microsoft, the legacy tech giant isn’t just looking at job cuts and revenue.On Monday it confirmed that it really agreed Billions of dollars invested in OpenAI, the lab behind ChatGPT, a viral artificial intelligence program. Microsoft previously invested in his OpenAI in 2019 and 2021, and OpenAI works closely with the company on its Azure cloud system. ChatGPT has taken off in recent months as its near-automated ability to generate text based on prompts has excited and upset people over the prospects of an AI-driven future, adding even more fuel to the utopia-dystopia debate. has exploded in popularity.

alphabet’s Google faces many headaches, including questions about whether OpenAI’s ChatGPT outperforms its own AI initiatives. Google is also facing its biggest wave of layoffs ever. CEO Sundar Pichai received heated criticism from employees for discussing the challenges at his company-wide Town Hall on Monday. Employees asked for details about how Google leadership decided who to fire and how. Pichai, CFO Ruth Porat and other executives also discussed things like cutting executive bonuses and targeting regions for hiring. Read more on CNBC’s Jennifer His Elias here.

According to the proposed roadmap, the Covid vaccine will probably need to be renewed once a year, and most people will probably only need one shot a year. Released by the Food and Drug AdministrationThe FDA’s recommendations are similar to the process of choosing an annual flu shot. The FDA will select Covid strains for vaccines in the spring, according to a briefing document released Monday, in time for updated shots to be rolled out in September as children return to school. , ahead of the holidays and the virus-friendly winter months… Some people, such as the elderly and those with weakened immune systems, may need two doses a year, according to the FDA.

supreme court Delayed decision on whether to pick up two cases As a result, it may change the way social networks monitor content on their platforms. At issue are laws in Florida and Texas led by Republican lawmakers who have accused social media companies of censoring conservatives. Two of his groups in the tech industry have voted against the law, arguing it violates their First Amendment rights to determine what types of speech are allowed on their platforms. I am disputing. Each law is contested in court, and it is up to the country’s Supreme Court to decide how the debate proceeds.

– CNBC’s Jesse Pound, Ashley Capoot, Jennifer Elias, Spencer Kimball, and Lauren Feiner contributed to this report.

— Follow a wide range of market movements like a pro CNBC Pro.