5 Things to Know Before the Stock Market Opens [Video]

Federal Reserve Chair Jerome Powell returns to Capitol Hill for a second day of testimony; Microsoft (MSFT) and Apple (AAPL) will not take observer seats on the board of ChatGPT maker OpenAI; Taiwan Semiconductor Manufacturing Co. (TSM) is rising in premarket trading after the company reported sharply higher year-over-year June revenue; Samsung Electronics workers say they will extend their strike; and Oracle (ORCL) shares are edging higher after dropping 3% Tuesday following a report that talks between the computing giant and Elon Musk’s xAI over a potential $10 billion server deal had ended. U.S. stock futures are little changed. Here’s what investors need to know today.

After facing questions from the U.S. Senate yesterday, Federal Reserve Chair Jerome Powell returns to Capitol Hill today for a hearing before the House Financial Services Committee. At Tuesday’s hearing, Powell told senators that the central bank is now closely watching the …