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

Here are five important things investors should know before starting the trading day.

Major stock indexes closed higher on Monday. Dow Jones Industrial Average The biggest gainer was a gain of more than 200 points, or 0.53 percent, to 40,211.72 as the blue-chip index recorded its highest ever closing price and hit a new intraday high during the trading session. S&P 500 It also hit an intraday high, closing at 5,631.22, up 0.28%. Nasdaq Composite Index It also rose, up 0.4% to close at 18,472.57. Live Market Updates.

The Federal Reserve does not appear prepared to hold back on cutting interest rates until it hits its inflation target. Speaking at the Economic Club of Washington, D.C. on Monday, Fed Chairman Jerome Powell said the central bank is can not wait Interest rates cannot be lowered until inflation hits 2%. The Fed will want “greater confidence” that inflation will return to that level. “What that means is that if we wait until inflation gets down to 2%, we’re probably waiting too long, because the tightening, or the level of tightening, that we’re currently undertaking probably still has the effect of pushing inflation below 2%,” Powell said. Powell added that he considers a “hard landing” to be “not a likely scenario” for the U.S. economy.

Former President Donald Trump attended the first day of the Republican National Convention and was seen with a bandage over his right ear. This was on Saturday. Assassination attemptNext to him in the VIP box Newly selected vice presidential candidateOhio Sen. J.D. Vance. Other close associates were in the box, including conservative TV personality Tucker Carlson and House Speaker Mike Johnson. His appearance was Trump Media Closed More than 30% The stock was up in Monday’s trading session. Also on Monday, Judge Eileen Cannon Criminal secret documents case dismissed A spokesman for Special Counsel Jack Smith said the Justice Department would appeal the ruling.

It’s unclear at the moment General Motors The company’s EV production capacity goal will actually be met, according to CEO Mary Barra. You may not have the ability The company plans to produce 1 million electric vehicles in North America by the end of next year. “We won’t get to 1 million because the market isn’t developed, but we will get there,” Barra said during CNBC’s CEO Council virtual event on Monday. The company has repeatedly said for more than two years that it would have manufacturing capacity in North America and China by 2025, but over the past year the company has changed or backtracked on some of its EV goals and product plans.

a Preview version A new iPhone update has arrived. Monday. apple The company has released a public beta of its iOS 18 software, which will be released alongside the new iPhones later this year. Apple Intelligence is not in public beta, but a beta version will be released this fall. In the meantime, the company says users can try it out this summer. The new update comes with new versions of core user interface elements, including the lock screen, home screen, and control center. Apps like Photos and Messages have also been redesigned. Not only that, but users will also be able to make app icons the same color.

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

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