5 things to know before the stock market opens on Wednesday, August 28

Here are five key things investors need to know to get started on the trading day:

All three major averages closed slightly higher on Tuesday. S&P 500 and the Nasdaq Composite Index Both gained 0.16%, with the broad market index ending at 5,625.80 and the tech-heavy Nasdaq closing at 17,754.82. Dow Jones Industrial Average The index also advanced, gaining 0.02% to close the session at 41,250.50 points. This is the second consecutive record closing high for the flagship index. Follow live market updates.

All eyes are on Nvidia ahead of its quarterly results Wednesday after the bell. While the stock’s current rally has put it within 10% of its all-time high, its early-year volatility is front and center for investors heading into the results. Since the end of 2022, its market cap has increased by about nine times its value, hitting a record high in June and even briefly surpassing Microsoft Nvidia is set to become the world’s most valuable public company. “They’re the most valuable stock in the world right now,” Eric Jackson of EMJ Capital recently told CNBC’s “Closing Bell.” “If they lay an egg, it would be a major problem for the entire market. I think they’re going to surprise to the upside.” Nvidia is expected to post triple-digit growth for a fourth consecutive quarter, though it’s expected to grow at a slower pace of 112% to $28.7 billion, according to analysts polled by LSEG.

It’s a touchdown for private equity. On Tuesday, National Football League owners voted to allow some private equity firms to buy up to 10 percent of a team’s stake, and each fund or consortium will be able to strike deals with up to six teams. Of the 32 franchise owners, 31 approved the measure, with Cincinnati Bengals owner Mike Brown voting against it, according to a person familiar with the vote. The companies that have been approved so far include Management of AresSixth Street Partners and Arctos Partners and a consortium called “The Avengers,” which includes Dynasty Equity, Black stone, Carlyle GroupCVC Capital Partners and Ludis.

Home prices have hit a new record high. On Tuesday, they hit the highest level ever recorded by the S&P CoreLogic Case-Shiller National Home Price Index in the United States, even as mortgage interest rates have risen. According to the latest data, on a three-month moving average ending in June, prices across the country were 5.4% higher than in June of last year. However, the increase is still lower than the 5.9% seen in May. “While both housing and inflation have slowed, the gap between the two is wider than historical norms, with our national index averaging 2.8% higher than the consumer price index,” Brian Luke, head of commodities, real assets and digital at S&P Dow Jones Indices, said in a statement.

The decline in toy sales doesn’t appear to be affecting Lego. The company reported Wednesday that its revenue rose 13% in the first half of the year to 31 billion Danish kroner, or about $4.65 billion. CEO Niels Christiansen told CNBC that the company is seeing growth across its portfolio, particularly with Lego Icons and Lego Creator, as well as its partnership with Epic Games for Fortnite. He noted that volume is also up this year, reversing last year’s trend as consumers shifted to cheaper sets while buying the same volume as the year before. “To the extent that they were down last year, they’re not down further,” he said. “So it’s leveled off. And we’re seeing almost all of the growth actually being volume growth.”

— CNBC’s Lisa Kailai Han, Brian Evans, Kif Leswing, Jessica Golden, Michael Ozanian, Diana Olick and Sarah Whitten contributed to this report.

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