Happy Tuesday. Snap CEO Evan Spiegel with sit down with CNBC’s Julia Boorstin at 2 p.m. ET today at the Augmented World Expo in California. Watch live on CNBC or CNBC+.

Stock futures are near the flatline this morning. The market is coming off another winning day.

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

It’s day one of the Federal Reserve’s first policy meeting with Kevin Warsh as its chair. As CNBC’s Matt Peterson reports, Trump will likely give Warsh more breathing room than he gave his predecessor, Jerome Powell.

One person familiar with the matter said Trump’s trust in Warsh will provide him with “some scope of action.” That could help Warsh announce that the Fed is keeping interest rates steady tomorrow — which markets overwhelmingly expect — without it seeming like a betrayal of Trump’s push for cuts. It could also give the Fed’s new chair room to implement sweeping changes.

Ahead of Wednesday’s rate decision announcement, respondents to CNBC’s Fed Survey see the Fed keeping rates unchanged through 2027, though most do think the Fed will remove the easing bias that has signaled its next move could be a cut.

SpaceX‘s ascent didn’t lose any steam yesterday, as shares climbed nearly 20% in its first full trading day. After underwriters exercised their “greenshoe” overallotment of shares, SpaceX said its total raise for the initial public offering came in at $85.7 billion.

Ron Baron told CNBC yesterday that Baron Capital purchased $1 billion worth of SpaceX during Friday’s IPO, bringing his total stake to around $25 billion. Meanwhile, some retail investors said they didn’t get as many shares as they hoped for.

The stock is still rising before the bell this morning, though shares pared their gains after SpaceX announced it would acquire Anysphere — the company behind artificial intelligence coding agent Cursor — for $60 billion.

AI darling Nvidia said in a regulatory filing yesterday that it would issue investment-grade corporate bonds for the first time since 2021. Sources told CNBC that the chipmaker is aiming to raise at least $20 billion in debt.

Nvidia currently has around $7.5 billion in long-term debt and $1 billion in short-term debt. During its last debt raise five years ago, when the company was significantly smaller, Nvidia collected $5 billion.

The decision makes Nvidia the latest tech company to look to the capital markets. Alphabet announced plans for a raise earlier this month, while Super Micro shared equity-related financing goals last week.

Fox Corp. said Monday that it entered into a deal to purchase Roku for around $22 billion. The cash-and-stock deal is slated to close in the first half of next year. Shares of Fox closed yesterday’s session down 15% following the deal’s announcement, while shares of Roku lost nearly 2%.

In other acquisition news, Salesforce announced yesterday that it is buying Fin, the AI customer service provider formerly known as Intercom. The company said that the acquisition, which is expected to close in the fourth quarter of the 2027 fiscal year, should bolster its agentic AI platform.

The U.S. Strategic Petroleum Reserve stood at around 340 million barrels as of June 12, according to the Department of Energy. That marks its lowest level since 1983.

— CNBC’s Kevin Breuninger, Spencer Kimball, Chloe Taylor, Sean Conlon, Matt Peterson, Steve Liesman, Arjun Kharpal, Kai Nicol-Schwarz, Yun Li, Kif Leswing, Seema Moody, Samantha Subin, Lillian Rizzo and Deena Zaidi, as well as Reuters, contributed to this report.

CJ Haddad assisted in the production of this newsletter. Josephine Rozzelle edited this edition.