5 Things to Know Before the Stock Market Opens

Chip Somodevilla / Getty Images Federal Reserve Chair Jerome Powell speaks at a press conference following the Fed's last policy meeting on July 30, 2025.

Stock futures are inching higher after the S&P 500 and Nasdaq Composite reached new highs; the Federal Reserve's two-day meeting begins as a new member joins the board ahead of an expected interest-rate cut; U.S. retail sales numbers are expected to show a slowdown in August; Oracle shares are soaring on a report that the software firm is among a consortium of companies that could allow Chinese-owned TikTok to continue operating in the U.S.; Dave & Buster’s (PLAY) shares are diving after the arcade-themed restaurant reported weak earnings. Here's what investors need to know today.

1. Stock Futures Rise Ahead of Fed Meeting as Investors Await Retail Sales Data

Futures tied to the S&P 500 and the Nasdaq Composite are slightly higher after the two indexes hit record highs as investors looked ahead to today’s retail sales data and the start of the Federal Reserve's two-day policy meeting. Gold prices hit another record high this morning, with futures trading at $3,730 an ounce, amid expectations the Fed will cut its key rate this week. Bitcoin (BTCUSD) is also slightly higher, trading at around $115,000. The yield on the 10-year Treasury ticked higher but remains near its lowest level since April.

2. Fed Meeting Starts as Miran, Cook Secure Spots at the Table

The Federal Reserve will begin its meeting today just as questions over who will be attending the meeting have been resolved. The Senate yesterday approved President Donald Trump’s appointment of Stephen Miran to the Fed's Board of Governors. Meanwhile, an appeals court upheld a ruling to allow current Fed Governor Lisa Cook to remain on the board while she challenges Trump’s efforts to fire her.  The Fed is widely expected to reduce interest rates when it announces that decision tomorrow. The central bank has held its benchmark rate steady this year amid uncertainty about the impact of tariffs on inflation, despite pressure from Trump to cut. Recent data showing weakness in the labor market has boosted expectations that the Fed will decide to trim the key rate this week.

3. Retail Sales Numbers Expected to Show Growth Slowed in August

The monthly retail sales report scheduled for release this morning is expected to show that growth slowed in August. Retail sales are estimated to have increased 0.3%, according to economists surveyed by The Wall Street Journal and Dow Jones Newswires. That would compared with 0.5% sales growth in July. The retail sales numbers are likely to provide clues on how tariffs are feeding through the economy.

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4. Oracle Stock Surges on Reported Involvement in TikTok Deal

Oracle (ORCL) shares are surging in premarket trading on a report that the software firm is among a consortium of companies that would allow Chinese-owned TikTok to continue operating in the U.S.—if a “framework deal" between Beijing and Washington is finalized. According to CBS, which cited sources with knowledge of the negotiations, the final deal over TikTok will include multiple companies. It wasn’t immediately clear who will control TikTok’s recommendation algorithm or what role parent company ByteDance will play, the report said. Oracle shares, which through Monday's close were up 80% so far in 2025, were up more than 5% in recent premarket trading.

5. Dave & Buster’s Shares Slide Following Weak Earnings Report

Shares of Dave & Buster’s (PLAY) are down sharply ahead of the bell after the arcade-themed restaurant chain reported lower-than-expected earnings and sluggish sales. Dave & Buster’s adjusted earnings per share came in at $0.40 for the fiscal second quarter, lower than $0.92 expected by analysts tracked by Visible Alpha. Same-store sales declined 3%, also weaker than Wall Street had anticipated. The results come after Dave & Buster’s delivered a positive outlook in the prior quarter.  Dave & Buster’s shares were down 18% in recent premarket trading.

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