5 Things to Know Before the Stock Market Opens

U.S. stock futures are little changed; Tesla (TSLA) CEO Elon Musk rails against President Donald Trump’s “Big Beautiful” budget bill again; Boeing (BA) agrees to pay $1.1 billion to avoid DOJ prosecution over 737 MAX crashes; Procter & Gamble (PG) says it will cut 7,000 non-manufacturing jobs, representing 15% of its workforce; and USDC stablecoin issuer Circle Internet Group prices its upsized IPO above its expected range. Here’s what investors need to know today.

1. US Stock Futures Little Changed

U.S. stock futures are little changed after the Dow Jones Industrial Average snapped a four-session winning streak Wednesday. Investors are watching jobless claims data today ahead of tomorrow’s payroll report for May. Dow futures are flat after shedding 0.2% in the prior session, while Nasdaq and S&P 500 futures are ticking lower after both indexes ended higher yesterday. Bitcoin (BTCUSD) is slightly lower at below $105,000. The yield on the 10-year Treasury note is declining. Gold futures are advancing to trade at more than $3,400 an ounce, and oil futures also are higher.

2. Musk Rails Against Trump’s ‘Big Beautiful Bill’ Again

Tesla (TSLA) CEO Elon Musk intensified his criticism of President Donald Trump’s signature budget legislation on Wednesday, urging supporters on social media to contact their legislators and demand they “KILL the BILL.” The post comes after Musk on Tuesday called Trump’s “One Big Beautiful Bill” a “disgusting abomination” that would “massively increase the already gigantic budget deficit.” The legislation passed the House of Representatives by one vote last month and is now being considered in the Senate.

3. Boeing Agrees to Pay $1.1B to Avoid DOJ Prosecution Over 737 MAX Crashes

Boeing (BA) agreed to pay $1.1 billion to avoid prosecution for the fatal crashes of two 737 MAX jets, including $455 million toward improving its safety compliance and $444.5 million to victims’ families. The U.S. Department of Justice charged Boeing with defrauding the federal government after the 2018 and 2019 crashes that killed more than 300 people. Shares of Boeing are little changed in premarket trading.

4. Procter & Gamble to Lay Off 7,000 Non-Manufacturing Workers

Procter & Gamble (PG) said it would cut 7,000 jobs, representing roughly 15% of its non-manufacturing workforce, adding that it “expects to record a total non-core charge of $1.0 to $1.6 billion before tax over the course of the two-year program.” The restructuring comes after the the consumer goods giant missed its quarterly sales projections and cut its full-year outlook. Procter & Gamble shares are little changed in premarket trading.

5. USDC Stablecoin Issuer Circle Prices IPO Above Expected Range

Fintech firm Circle Internet Group, which issues the USDC stablecoin, priced its upsized initial public offering (IPO) above its expected range. The offering now totals 34 million shares at $31 each, up from 32 million shares at an expected range of $27 to $28 announced Monday. USDC is the seventh-largest cryptocurrency, per CoinMarketCap, with a market cap of about $61.5 billion. Shares are set to begin trading Thursday on the New York Stock Exchange (NYSE) under the ticker “CRCL.”