5 things to know before the stock market opens Tuesday

• Stocks ended the second quarter firmly in the green, staging a comeback from their April lows.
• Senators were still voting on amendments to Trump’s spending package.
• Home Depot is buying building products distributor GMS for $4.3 billion.

Here are five key things investors need to know to start the trading day:

1. Halfway point

All three major averages rose on Monday, capping off a second-quarter comeback. The S&P 500 notched another record close, gaining 0.52% to end the session at $6,204.95, while the Dow Jones Industrial Average added 275.50 points, or 0.63%. The Nasdaq Composite closed up 0.47%. Stocks started the second quarter — which ended Monday — with steep losses, tumbling in early April following President Donald Trump’s tariff rollout. But each index rebounded, finishing the quarter firmly in the green: The S&P 500 rose more than 10% in the period, the Nasdaq climbed 18% and the Dow added nearly 5%. Follow live market updates.

2. All-nighter

As Republican lawmakers race to deliver President Trump’s spending package to his desk by July 4, senators were still voting on amendments to the bill on Tuesday morning, having started the process around 9 a.m. ET on Monday. A final vote on the legislation cannot happen until the so-called “vote-a-rama” concludes. According to a new Yale Budget Lab report, the bill would reduce the incomes of low-earning households while increasing the incomes of wealthier households. Elon Musk, meanwhile, continued his tirade against the spending package, calling it a “DEBT SLAVERY bill” in a post on X Monday afternoon. “Every member of Congress who campaigned on reducing government spending and then immediately voted for the biggest debt increase in history should hang their head in shame!,” Musk wrote in a separate post, warning the lawmakers that “they will lose their primary next year if it is the last thing I do on this Earth.” President Trump responded to Musk in a Truth Social post shortly after midnight, threatening to have “DOGE take a good, hard, look” at the subsidies received by Musk’s businesses.

3. Superintelligence

Meta CEO Mark Zuckerberg on Monday announced the creation of Meta Superintelligence Labs — a new unit that will house the company’s teams working on AI foundation models, projects and research. MSL will be led by Alexandr Wang and Nat Friedman, according to an internal memo obtained by CNBC. Wang, the ex-CEO of Scale AI, and Friedman, the former CEO of GitHub, are both recent hires at Meta. The tech giant has enlisted a flurry of new AI recruits as it looks to compete against OpenAI and Google. News of Meta’s superintelligence project came shortly after shares of the company reached a new all-time high, trading at $747.90 earlier in Monday’s session. That topped its previous intraday record set in February.

4. Getting more done

Home Depot is buying building products distributor GMS in a $4.3 billion deal, the company announced Monday. The acquisition, which Home Depot expects to complete by early 2026, comes as the retailer looks to earn more sales from contractors and other home improvement professionals. Sales from do-it-yourself customers have slowed, and professionals like electricians and roofers tend to be a steadier and more lucrative part of the home improvement business. The deal also marks an end to a potential bidding war between Home Depot and billionaire Brad Jacobs’ QXO, which earlier this month offered about $5 billion to acquire GMS. QXO, another building products distributor, said it would stage a hostile takeover if GMS management rejected its proposal.

5. Three-point play

The WNBA is coming to Cleveland, Detroit and Philadelphia. The league announced on Monday that it has awarded new expansion teams to the three cities, growing the WNBA to 18 teams by 2030. Franchises in Toronto and Portland are set to join the WNBA’s current 13 teams in 2026, followed by the Cleveland team in 2028, the Detroit team in 2029 and the Philadelphia team in 2030. “These are proud cities with powerful sports legacies, each one rich in basketball tradition,” WNBA Commissioner Cathy Engelbert said. “This is a bold step forward as we grow our footprint.”

— CNBC’s Sean Conlon, Pia Singh, Tanaya Macheel, Erin Doherty, Kevin Breuninger, Greg Iacurci, Jonathan Vanian, Melissa Repko and Jessica Golden contributed to this report.