5 things you need to know before the stock market opens

Shares of Tesla ( TSLA ) are coming off some of their strong Monday gains as the electric vehicle (EV) maker prepares to reveal its highly anticipated second-quarter shipment numbers; Shares of Paramount Global ( PARA ) are rising as billionaire Barry Diller’s IAC is reportedly exploring a takeover bid for the entertainment giant; Fed Chairman Jerome Powell to speak at ECB Central Bank Forum; Salesforce ( CRM ) investors voted against the cloud software firm’s compensation plans for Chief Executive Officer (CEO) Marc Benioff and other executives after shareholder advisory groups condemned high pay levels; and shares of cruise operators Royal Caribbean ( RCL ), Carnival ( CCL ) and Norwegian Cruise Line ( NCLH ) are all in losses as Beryl becomes the earliest Category 5 hurricane in the Atlantic. U.S. stock futures are falling after the Nasdaq Composite climbed to a record high on Monday. Here’s what investors need to know today.

1. Tesla to release highly anticipated second quarter shipment numbers

Shares of Tesla ( TSLA ) are falling almost 2% in premarket trading, giving back some of Monday’s gains that took them to their highest level since January. The veteran EV maker will report its much-anticipated second quarter shipment report today. Visible Alpha’s current consensus is for just under 439,000 shipments after the company reported nearly 387,000 for the first quarter. Chinese electric vehicle makers Nio ( NIO ), Li Auto ( LI ) and XPeng ( XPEV ) all posted solid monthly and quarterly delivery earnings on Monday, with Nio reporting an all-time monthly high for vehicle shipments in June.

2. Paramount shares rise as Barry Diller reportedly becomes latest potential bidder

Shares of Paramount Global ( PARA ) are rising 3% in premarket trading after a report from New York Times that billionaire Barry Diller is exploring a takeover bid for the entertainment giant. In the latest twist in the battle to own CBS and Nickelodeon, the report said Diller’s digital media conglomerate, IAC, signed nondisclosure agreements with National Amusements, Paramount’s controlling shareholder. (IAC is the owner of Investopedia parent Dotdash Meredith.) The nondisclosure agreements were signed sometime after Paramount’s deal with Skydance Media fell apart last month, when National Amusements owner Shari Redstone reportedly called off months of merger talks. Times said.

3. Investors look to Powell’s speech, JOLTS data for rate cut clues

Investors will be looking for two events that could provide clues about the Federal Reserve’s plans to cut interest rates. Fed Chairman Jerome Powell is speaking at a European Central Bank (ECB) event in Portugal. The central bank has predicted a rate cut this year. Also likely to help determine the Fed’s rate trajectory is the Job Openings and Labor Turnover Survey (JOLTS) due at 10 a.m. ET. JOLTS data is expected to show job openings fell to 7.9 million in May from 8.1 million in April, according to a survey of economists by Dow Jones Newswires AND The Wall Street Journal.

4. Salesforce Investors Vote Against CEO Benioff’s Pay Plan

Salesforce ( CRM ) investors voted against the cloud software firm’s compensation plans for its top executives, including CEO Marc Benioff, after shareholder advisory groups complained about how high Benioff’s equity prices were. Benioff earned $39.65 million in total compensation for fiscal year 2024, an increase of more than 32% year over year. The board had asked shareholders to vote in favor of the compensation plan, but shareholder advisory firms Glass Lewis and Institutional Shareholder Services both reportedly recommended that investors vote against the measure. Shares of Salesforce are down almost 1% in premarket trading.

5. Cruise operators fall further as Beryl becomes Atlantic’s earliest Category 5 hurricane

Shares of cruise operators continued to fall in premarket trading after Beryl was upgraded to a Category 5 hurricane, the earliest such hurricane in the Atlantic Ocean. Beryl has forced ships to change course, heralding a dangerous hurricane season this year. Shares of Royal Caribbean ( RCL ), Carnival ( CCL ) and Norwegian Cruise Line ( NCLH ) are all lower after posting significant declines on Monday.