5 things to know before the stock market opens on Thursday, January 11th

Markets traded well on Wednesday, with all three major indexes rising. It’s been a volatile new year for stocks, fresh off a strong 2023, as investors look for direction on a potential Federal Reserve rate cut. All eyes will be on December’s consumer price index, which will be released on Thursday morning, and wholesale inflation statistics on Friday. The financial settlement season is finally starting. JPMorgan and Delta Air Lines will lead the group, which is expected to report before the opening bell on Friday. Citigroup, which is in the midst of a major reorganization, is also scheduled to release a report on Friday, but things don’t seem to be as exciting. Follow live market updates.

New inflation data released on Thursday could be a little too hot for market dovs. Economists polled by Dow Jones expect the CPI to rise 3.2% in December from a year ago. That’s a far cry from the pace at which the Fed was forced to raise its benchmark interest rate, but it’s still high. CNBC’s Jeff Cox says this sentiment could disrupt market expectations as investors look to regain their footing after a rocky start to 2024. “The market seems excited that the Fed may have to do more than it’s thinking right now when it comes to lowering rates,” said Jack McIntyre, portfolio manager at Brandywine Global Investment Management. Ta. He said, “The market has gotten ahead of itself.”

Who’s ready for a new era of cryptocurrencies? After Tuesday’s misinformation, the Securities and Exchange Commission on Wednesday approved rule changes that would allow for the creation of Bitcoin exchange-traded funds in the U.S. The move has long been expected and has been criticized by many in traditional financial circles, including JPMorgan CEO Jamie Dimon, as it would lend credibility to an asset that has been rejected as a risky investment. are doing. However, momentum is in Bitcoin’s favor. As CNBC’s Mackenzie Sigalos points out, Bitcoin spot ETFs make investing in crypto easier and more affordable.

Houthi attacks in the Red Sea have already forced shipping companies to move large amounts of cargo from major shipping routes to around the southern tip of Africa. The result is longer delivery times and higher costs, which could trickle down to inflation-weary consumers. However, the worst may be yet to come, as fares are set to rise significantly on Monday. The retail industry is also bracing for potentially difficult times as Iranian-backed Houthi militants continue to target commercial ships in Yemen. “Rerouting ships is leading to longer transit times and increased costs,” said John Gold, supply chain executive at the National Retail Federation. “Unfortunately, the longer the disruption lasts, the more challenges it will pose to ensuring supply chain reliability and efficiency.”

I was fired. With Aaron Rodgers appearing on Disney-owned ESPN’s “The Pat McAfee Show” this season, one of the media giant’s concerns has been removed. New York Jets quarterback Rodgers, who is reportedly paid handsomely by McAfee to appear on his Tuesday show, has been outspoken about his anti-vaccine views and is a former Disney employee and host of ABC’s late-night show. Jimmy Kimmel has falsely suggested that he would appear on the show. Legal document listing late sex offender Jeffrey Epstein’s associates. Mr. Rogers has now left the show, and the host himself said he was relieved. “I think there’s a lot of people who would be happy with that, myself included, to be honest,” he said. That said, the issue of conflict between McAfee and longtime ESPN executive Norby Williamson remains. Host and former NFL punter Norby Williamson had accused McAfee of trying to disrupt the show with media leaks.

– CNBC’s Brian Evans, Hugh Song, Jeff Cox, Jesse Pound, Mackenzie Sigalos and Lori Ann LaRocco contributed to this report, as did NBC News’ David K. Lee.

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