5 things to know before the stock market opens on Wednesday

Here are the most important news investors should start their trading day:

Shares rose on Tuesday S&P 500 AND Nasdaq Composite closed with new records, again. The broad index rose 0.25% while the Nasdaq rose 0.22% and the Dow climbed 0.17%. Investors are eagerly awaiting Nvidia’s earnings report on Wednesday. “People don’t [want] lose print participation if they come out with good numbers,” said Matt Rowe, head of cross-asset strategies at Nomura Private Capital. Traders will also be watching as the Federal Open Market Committee releases minutes from its latest meeting in April Follow live market updates.

The aim missed Wall Street’s first-quarter earnings estimates on Wednesday. The retailer’s revenue was roughly in line with expectations, but its sales fell about 3% year over year. Customers, weary of high prices, bought fewer cheap items and groceries. CEO Brian Cornell told reporters the company is focusing on delivering value. Earlier this week, Target announced it was slashing prices on about 5,000 items, including staples like milk, bread, paper towels and diapers.

Pixar is laying off about 175 employees — or about 14% of the studio’s workforce — as Disney CEO Bob Iger shifts the company’s focus to quality over quantity. For Pixar, that means moving away from short series for Disney+ and toward theatrical releases. It was initially reported that 20% of Pixar’s employees would be laid off, instead of 14%. These long-awaited hits, which were delayed due to production schedules, follow layoffs at other Disney businesses last year.

Google has announced that it is allowing advertisers to promote in style, giving them the ability to use generative AI to create and use 3D images in their ads. With these new tools, advertisers will be able to use what the company calls a “visual brand profile” in the search engine, enabling “richer results” for searches of a particular brand or retailer. The company said brands can also include videos and product reviews. The announcement comes a week after Google announced plans to prioritize what it calls “AI Summary” on its search results page, a feature that uses artificial intelligence to summarize information and present it at the top of the page. .

Nestle has its eyes on a new market. The food and beverage giant is launching a frozen food brand that caters specifically to consumers using GLP-1 weight loss drugs like Ozempic or Wegovy. The new brand, known as Vital Pursuit, includes 12 items ranging from pizzas to frozen whole grain or pasta bowls. The items are set to be priced at $4.99 or less and will include one or more essential nutrients. The lineup will also include gluten-free options. The Vital Pursuit is expected to hit stores by the fourth quarter.

CNBC’s Hakyung Kim, Melissa Repko, Sarah Whitten, Jennifer Elias and Amelia Lucas contributed to this report.

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