5 things to know before the stock market opens Tuesday

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

Silver is on a wild ride. After surging to record highs this year, the metal saw its biggest intraday swing in more than half of a decade yesterday.

Here’s the full story:

Silver futures slid more than 8% on Monday, falling below $71 per ounce. The reversal came after it topped the $80 level for the first time ever.The metal fell 15% from its highest to lowest points, its largest one-day move since August 2020.That action can likely be chalked up to profit taking. Silver was still up more than 140% this year after Monday’s drop.Silver regained some ground in early trading this morning, with the metal last up more than 7%.Elsewhere in metals, copper rose to fresh records yesterday and is on track for its best year since 2009.Meanwhile, the stock market slid to kick off the final trading week of the year, with key artificial intelligence plays once again under pressure.Follow live markets updates here.

General Motors‘ investors were in the driver’s seat this year. As CNBC’s Michael Wayland reports, GM’s stock is on track to outperform competitors in 2025 and notch its biggest one-year gain since the automaker exited bankruptcy in 2009.

Shares have hit new all-time highs this month, thanks in part to a roughly 13% rise so far in December alone. The automaker’s stock is on track to see its fifth straight winning month as Wall Street cheers the Detroit-based company’s record of cash generation and resilient earnings.

Meta said this morning that it has acquired artificial intelligence agent developer Manus.

The Singapore-based startup this year launched its first AI agent, which can complete tasks such as coding and data analysis. Meta said the acquisition should help accelerate its AI innovation and further integrate automation into products such as its AI assistant. Terms of the deal were not disclosed, but the Wall Street Journal reported that it closed at more than $2 billion, citing sources familiar.

It’s the latest AI investment for Meta, which earlier this month acquired wearables startup Limitless. In June, the tech giant invested $14.3 billion in Scale AI.

President Donald Trump didn’t mince words when discussing Iran yesterday. Trump said he would “knock the hell out of” Iran if the country attempts to rebuild its nuclear program, but suggested Iran should negotiate a deal.

“Now, I hear that Iran is trying to build up again, and if they are we’re going to have to knock them down,” Trump said. “We’ll knock the hell out of them. But hopefully that’s not happening.”

Trump, who yesterday met with Israeli Prime Minister Benjamin Netanyahu, also said he would support an Israeli attack on Iran if the country tries to rebuild its ballistic missile reserve or reinstate its nuclear program.

Rep. Ro Khanna, D-Calif., is falling out of favor with his state’s tech elite after supporting a wealth tax.

California labor groups are pushing for a ballot measure that asks the state’s billionaires to pay a one-time 5% tax to make up for an expected shortfall in the health-care system. In a social media post, Khanna reacted sarcastically to industry leaders’ threats to leave the state if the ballot item succeeds.

As CNBC’s Garrett Downs notes, those tech leaders made clear their displease with Khanna online. Look no further than Y Combinator CEO Garry Tan, who wrote that it’s “time to primary him.”

Kiruna, Sweden’s northernmost city, is being moved building by building due to ground subsidence caused by the expansion of the world’s largest underground iron ore mine. CNBC’s Sam Meredith takes you inside the process and what it means for Kiruna’s residents.

— CNBC’s Sarah Min, Sean Conlon, Michael Wayland, Garrett Downs, Justin Papp, Sam Meredith, Elsa Ohlen and Dylan Butts contributed to this report. Josephine Rozzelle edited this edition.