5 things to know before the stock market opens

Stock futures rose this morning after the Dow Jones Industrial Average closed at a record high on Tuesday. The House of Representatives is scheduled to vote on legislation to end the US government shutdown that has been ongoing for six weeks. Advanced Micro Devices (AMD) shares rise after the chipmaker forecasts strong revenue growth over the coming years; The White House is said to be considering measures that could limit the influence of proxy advisors and index fund managers in shareholder votes; On Holding shares rose after the sneaker maker reported strong earnings and raised its guidance. Here’s what you need to know today.

1. Stock futures point to a higher open after the Dow Jones hits a record high

Stock futures are moving higher as investors closely monitor developments in Washington, D.C., with a key vote scheduled for later today that could end the government shutdown. Dow Jones Industrial Average futures rose 0.2% recently after the blue-chip index closed at a record high on Tuesday. Futures tied to the S&P 500 and tech-heavy Nasdaq rose 0.4% and 0.6%, respectively. Bitcoin’s price was just under $105,000, up from an overnight low of around $102,500. Gold futures rose 0.6% to $4,140 an ounce, trading near their highest levels in three weeks. The yield on the 10-year Treasury note, which affects borrowing costs on a wide range of consumer loans, was 4.08%, down from the previous close of 4.11%.

2. The House of Representatives is scheduled to vote on the spending bill that will end the shutdown

The House of Representatives is scheduled to vote on a spending measure that would reopen the government through January and end the longest government shutdown in U.S. history. A key House committee advanced the legislation that passed the Senate in an early vote on Wednesday, rejecting attempts by some Democrats to amend the legislation. President Donald Trump is expected to sign the legislation, ending the shutdown, which is now in its 43rd day. The work stoppage contributed to a freeze in the US government’s economic reports, while also creating staffing issues in the air traffic control system, prompting officials to reduce the number of flights.

3. AMD shares jump amid expectations of strong revenue growth

Shares of Advanced Micro Devices (AMD) jumped in pre-market trading after CEO Lisa Su said the chipmaker’s revenue could grow 35% annually over the next three to five years due to continued strong demand for artificial intelligence chips. At the company’s first-ever analyst day on Tuesday, Su said the company’s AI data center business could grow 80% annually over the same period, and sales could potentially reach tens of billions of dollars by 2027. AMD also said its gross margins would reach about 55% to 58% in the coming years, ahead of analysts’ expectations. AMD shares, which have nearly doubled in value since the beginning of the year, rose 6% before the bell.

4. The White House is considering action to undermine the influence of acting advisers

The White House is considering new measures that would reduce the influence of proxy advisers and index fund managers on shareholder votes, according to a report published in The Wall Street Journal. Trump administration officials are considering executive orders that could prevent proxy advisors such as Institutional Shareholder Services and Glass Lewis from making recommendations on shareholder votes, the report said. Officials are also looking to limit the influence of index fund managers such as BlackRock, Vanguard and State Street, according to the report. The influence of dealership companies has been criticized by top corporate executives, including Tesla CEO Elon Musk, who faced resistance from dealership advisors ahead of a recent shareholder vote on his $1 trillion pay package.

5. When stocks rise, as the sneaker maker boosts guidance, again

On Holding (ONON) shares rose in pre-market trading after the Roger Federer-backed Swiss athletic shoe maker reported better-than-expected third-quarter results and raised its full-year forecast. The company reported adjusted earnings of 0.43 Swiss francs ($0.54) per share on net sales that jumped 25% year over year to 794.4 million Swiss francs ($994.2 million), well above Wall Street estimates. The Zurich-based company, which raised its forecast for the third straight quarter, expects full-year sales to grow 34% on a constant currency basis, up from a previous forecast of at least 31%. Profitability is also expected to rise. said Caspar Coppetti, Co-Founder and Co-CEO CNBC The company will not be offering Black Friday deals and will be “full price during the holiday season.” As for the shares, which as of yesterday’s closing had lost more than a third of their value this year, they rose by 8% in recent trading.