Hi, I'm Becky Quick, co-host of Squawk Box, and this is five things you need to know before today's opening bell.

The Federal Reserve set to announce its latest interest rate decision at 2 p.m. Eastern time.

It's widely expected to cut rates by a quarter point.

The Gaza ceasefire in jeopardy.

Yesterday, Israeli Prime Minister Benjamin Netanyahu ordered powerful strikes in the Gaza Strip immediately, in his words, in retaliation for what Israel says was a Hamas attack on its forces in the city of Rafa.

In the United States, an executive at the Air Traffic Controlers Union says that hundreds of workers have taken second jobs after missing their first full paychecks because of the government shutdown.

Those controllers have increasingly been calling in sick during the shutdown.

Yesterday, Transportation Secretary Sean Duffy said that air traffic controller absences were the primary cause of the thousands of flights that have been delayed each day.

By the way, we are already seriously understaffed when it comes to those air traffic controllers.

So this shutdown is really putting things in a perilous situation.

Shares of NVIDIA supplier, H.K. Hynix, jumped in South Korea trading.

The company reported record quarterly revenue and profit.

It was boosted by strong demand for its high bandwidth memory chips that are used in AI chipsets.

The company says its planned supply of memory products for 2026 are already sold out.

That stock up by 7%.

And overnight, Hurricane Melissa making landfall in southeastern Cuba as a category three storm

with maximum sustained winds near 125 miles an hour.

That hurricane slamming into Jamaica yesterday as a powerful Category 5 storm.

We'll be back later today with Squawk Pod, our daily podcast featuring the best of Squackbox.

Stay tuned to your feed, wherever you get your podcast and listen anytime.