5 things to know before the stock market opens Tuesday, September 20

Here are the most important news items that investors need to start their trading day:

The Federal Reserve’s policy-setting committee is set to start its two-day meeting Tuesday, as the market waits to see whether the central bank raises its benchmark rate by three-quarters of a point or a full point. The announcement is set for Wednesday. Stocks generally have been in sell-off mode since August’s inflation data came in hotter than expected, prompting more uncertainty about how long the Fed would keep raising rates to battle price increases. U.S. equities markets, coming off a positive Monday, were set to open lower Tuesday morning.

Companies are still contending with supply chain issues, particularly as costs keep rising. Ford Motor said after the bell Monday it expects supplier costs to add up to $1 billion more than expected in the third quarter. The company said supply problems have resulted in parts shortages that affect about 40,000 to 45,000 vehicles, particularly trucks and SUVs. These vehicles also typically carry higher profit margins. Ford said it’ll have more details when it reports earnings Oct. 26. The company’s stock fell about 5% in off-hours trading.

As Ukrainian forces press their counteroffensive and take back occupied territory, Russian-aligned separatist leaders in eastern Ukraine are pushing for quick votes to break away and join Russia. The head of the Donetsk area called on his fellow separatist leader in Luhansk on Monday to work together on getting through a referendum. Analysts say such a vote would be “incoherent” due to Ukraine’s reclamation of parts of these areas. Elsewhere, the U.K. said that next year it would meet or exceed the amount of Ukraine aid spending it is doing this year. At this week’s United Nations General Assembly, Prime Minister Liz Truss is expected to call on countries to cease depending on Russia for energy. Read live updates about the war here.

The Federal Aviation Administration denied a request from Republic Airways to cut in half the required number of hours to become a pilot. Regulations require at least 1,500 hours of flight time for commercial pilots, with exceptions made for certain kinds of military experience. Republic, which flies short routes for United, Delta and American, sought to cut the requirement to 750 hours upon completion of the carrier’s training program. Airlines have blamed a pilot shortage for service cuts, particularly to smaller cities. The FAA said its decision was rooted in the “greater public interest to ensure and maintain the level of safety” the current rules provide. Republic, for its part, said the FAA didn’t give “its proposal review and engagement it deserves.”

“The Woman King” had the makings of a hit: A stellar cast headed by Oscar winner Viola Davis and Star Wars veteran John Boyega, Oscar buzz, and the promise of big, splashy action scenes. And yet its opening weekend gross of $19 million easily exceeded the expectations of its studio, Sony, and some box-office analysts. Now, the movie, which was a strong draw for female and Black audiences, has the potential to rack up big bucks over a sustained period of time during an otherwise light calendar for movies, which have only a few blockbuster-style releases left this year, including “Avatar: The Way of Water” and “Black Panther: Wakanda Forever.” In another bonus for business-starved theaters, audiences were willing to shell out more money to watch “The Woman King.” About a third of the movie’s viewers paid an average $4.50 extra to see it in premium formats, according to EntTelligence data.

— CNBC’s Jesse Pound, Michael Wayland, Holly Ellyatt, Leslie Josephs and Sarah Whitten contributed to this report.

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