5 things to know before the stock market opens Wednesday

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

Gold futures surpassed the $4,000 per ounce mark for the first time ever yesterday. It’s the 43rd record high close of the year for the metal, which has long been viewed as a safe-haven investment amid times of turmoil. Gold is now up more than 50% in 2025.

Here’s what to know:

• Gold’s rally has upped costs for jewelry makers, leading some to hike their prices.
• Bridgewater Associates founder Ray Dalio said the metal should account for around 15% of investors’ portfolios in today’s market, which he likened to that of the early 1970s.
• However, the stock market couldn’t hang. The three major indexes ended Tuesday’s session in the red, snapping a seven-day win streak for the S&P 500.
• For CNBC Pro subscribers, here are different ways to invest in gold and where the metal could go from here.
• Follow live markets updates.

Nvidia CEO Jensen Huang came to Oracle‘s defense following its tough day in the market yesterday.

Oracle shares slid 2.5% after a report raised concerns that the company is seeing small margins on its Nvidia chip rental business. But Huang told CNBC’s Jim Cramer that Oracle is “going to do incredibly well” and that the company will be “wonderfully profitable” over time.

Speaking with Cramer at the CNBC Investing Club’s Monthly Meeting on Tuesday, Huang also explained why Nvidia’s latest partnership with OpenAI is unique: “For the first time, OpenAI is going to buy directly from us,” he said. Huang’s comments come as some big-name investors such as Orlando Bravo warn of a potential bubble forming around the artificial intelligence trade.

Huang will join CNBC’s “Squawk Box” at 8 a.m. ET. Watch CNBC TV live here.

President Donald Trump suggested yesterday that some federal workers furloughed during the ongoing government shutdown won’t receive back pay when they return to work. “I would say it depends on who we’re talking about,” he said. Notably, a 2019 law signed by Trump says furloughed government employees “shall be paid for the period of the lapse in appropriations.”

Republicans appear to be under increasing pressure to consider Democrats’ health-care demands that have been at the heart of the two parties’ disagreement. Republican Sen. Susan Collins has reportedly shared a “discussion draft” of a proposal which includes GOP pledges for an Obamacare deal.

Investment firm Carlyle reported that its data showed that the labor market grew by just 17,000 jobs last month. If correct, that would mark a slowdown from what the Bureau of Labor Statistics reported in August.

Meanwhile, the New York Federal Reserve’s monthly survey found that consumers expect inflation to be higher in the year ahead. On top of that, fewer people expect to be better off financially in a year, according to the report.

Tesla unveiled more affordable versions of its Model Y SUV and Model 3 sedan yesterday. But Wall Street didn’t seem impressed.

Shares rose 5% on Monday after the electric vehicle maker teased an announcement, but the stock gave up much of that gain on Tuesday, closing down more than 4%. As CNBC’s Lora Kolodny notes, some investors were hoping for long-promised updates on new products, such as the next-generation Roadster.

Tesla also released a new version of its driver assistance system for Full-Self Driving yesterday.

7-Eleven is hoping a Japanese-style revamp will revive its struggling U.S. stores. Here’s what parent company Seven & i Holdings is planning:

— CNBC’s Sean Conlon, Spencer Kimball, Laya Neelakandan, Yun Li, Lora Kolodny, Natasha Abellard, Julie Coleman, Kevin Breuninger, Jeff Cox, Jessica Dickler and Erin Doherty contributed to this report. Josephine Rozzelle edited this edition.