5 Things to Know Before the Stock Market Opens

Stock futures are lower this morning, led by tech sector declines, after major indexes surged on Wednesday following the Federal Reserve's decision to cut interest rates; the Fed has trimmed its benchmark rate at each of its last three policy meetings, but the outlook for additional cuts is far from clear; Oracle shares are sinking after the cloud computing giant released its quarterly results, reviving concerns about an AI bubble; Chipmaker Broadcom is set to post its own quarterly results after the closing bell today; and Coca-Cola has named a new CEO. Here's what you need to know today.

Stock Futures Slip As Tech Sector Under Pressure

Stock futures are pointing to a slightly lower open on Thursday, a day after major indexes closed near record highs following the Federal Reserve's decision to cut its key interest rate. This morning, tech stocks are leading the declines as Oracle shares are tumbling after the company released its quarterly results. (see more below) Futures tied to the S&P 500 and the tech-heavy Nasdaq were recently down 0.3% and 0.5%, respectively, while Dow Jones Industrial Average futures hovered near unchanged. The yield on the 10-year Treasury note, which affects borrowing costs on all sorts of loans, was at 4.12% this morning, down from 4.16% at yesterday's close and a three-month high of 4.21% early yesterday. Bitcoin was at $90,300 recently, down from yesterday afternoon's high above $94,000. Gold futures were up 0.5% at $4,245 an ounce, while WTI crude oil futures slipped 1.2% to $57.80 an ounce.

The Fed Has Been Cutting Rates. Will That Continue?

The Federal Reserve has been steadily cutting rates in recent months—but it's far from certain that more cuts are on the way anytime soon. After trimming its benchmark rate on Wednesday, Fed Chair Jerome Powell said that the current fed funds rate is at the high end of the "neutral" range where Fed officials think the rate is neither turbocharging the economy with easy money nor slowing it down with high borrowing costs. The Fed is "well-positioned to determine the extent and timing of additional adjustments based on the incoming data, the evolving outlook and the balance of risks," Powell told reporters. Fed officials are projecting just one additional cut in 2026, according to the Summary of Economic Projections released Wednesday, while financial markets are pricing in the likelihood that the Fed will stand pat at least through March. President Donald Trump has been pushing the Fed to aggressively cut interest rates, and he's set to replace Powell when the Fed Chair's term expires in May.

Oracle Stock Sinking After Earnings Report Revives AI Bubble Concerns

Oracle (ORCL) shares are plummeting this morning after the cloud computing giant's latest earnings report included sales that fell short of estimates. Oracle's new agreements with AI giants Meta Platforms (META) and Nvidia (NVDA), which grew its backlog of orders to $523 billion, did not appear to answer investor concerns about an AI bubble. The stock has more than given back the gains that it saw after last quarter's report, when shares soared to a record high. In the months since, investors and analysts have raised questions about Oracle's reliance on a small number of customers and whether the new debt it will take on to build out AI infrastructure could put its financial health in jeopardy. Oracle shares were down 13% in recent premarket trading.

Broadcom Earnings Due After The Closing Bell

Broadcom (AVGO) will give investors another indication of the health of the AI trade when the chipmaker releases its results after the closing bell today. Broadcom is expected to report record revenue figures thanks to booming AI demand, though analysts have warned that the company faces risks. One potential threat: Alphabet's (GOOGL) Google is looking to design its own future generations of AI chips in house, rather than the current generation that it has designed in partnership with Broadcom. For now, however, Broadcom is riding high; its stock hit a record high Wednesday and has gained nearly 80% in 2025. Shares were down about 1% ahead of the bell this morning.

Coca-Cola Names New CEO to Take Over in March

One of America's most well-known brands is getting a leadership shakeup in the new year. Coca-Cola (KO) said after the bell Wednesday that COO Henrique Braun will step into the role of CEO in March. Current CEO James Quincey, who has led the soda maker for nine years, will become executive chairman. Braun, who joined the company in 1996, has been COO since the start of this year. He previously served in a number of roles leading several of Coca-Cola's international segments. Shares of the beverage maker, which have gained 13% since the start of the year, were little changed in premarket trading.

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