5 things to know before the stock market opens Thursday, January 12

Traders on the ground of the NYSE, Jan. 5, 2023.

Source: NYSE

Listed here are an important news items that investors need to begin their trading day:

1. It’s CPI day

Thursday morning’s consumer price index report will provide the most recent indication of whether the Federal Reserve’s war on inflation is having any success. But, as CNBC’s Patti Domm points out, even when the December CPI is negative month over month, as is anticipated, it does not imply the Fed goes to ease off its rate hike plan since 12 months over 12 months inflation remains to be well above policymakers’ 2% goal. The CPI number is scheduled to hit at 8:30 a.m. ET. Markets, meanwhile, are coming off a positive Wednesday. The Nasdaq is on a four-day winning streak. Read live markets updates here.

2. Proxy fight at Disney

Add “proxy fight” to Bob Iger’s already-staggering to-do list. After the bell Wednesday, Disney announced that its recent chairman can be Mark Parker, a longtime board member and Nike’s executive chairman. But that wasn’t all. The entertainment giant got ahead of an announcement by activist investor Nelson Peltz’s Trian Fund Management, saying it had rejected Peltz’s try and join the board. Trian bought about $800 million Disney stock about two months ago. On Wednesday, Peltz said Disney had “lost its way” and that he wants Disney to develop into more cost efficient. Notably, though, Trian said it wasn’t looking to switch Iger, despite Peltz’s reported skepticism in regards to the executive’s return to Disney. “Trian’s objective is to create sustainable, long-term value at Disney by working WITH Bob Iger and the Disney Board,” the firm said.

3. ‘Nonsense’

A “Store Closing” banner on a Bed Bath & Beyond store in Farmingdale, Recent York, on Friday, Jan. 6, 2023.

Johnny Milano | Bloomberg | Getty Images

Sure, Bed Bath & Beyond might be on the point of bankruptcy, AMC Entertainment is scuffling with an enormous debt load and an environment that favors streaming over theaters, and GameStop is, well, GameStop. But that did not stop their shares from popping in what felt like a last-gasp meme stock rally Wednesday. Bed Bath & Beyond, whose market cap was under $150 million earlier this week, surged probably the most – 68%. Heading into Thursday morning, its market value stands at greater than $307 million, at the same time as the corporate rapidly burns through money, runs out of merchandise to sell and loses customers. “We do not love the strength in nonsense stocks like AMC, CVNA, GME, BBBY, PRTY, etc.,” said Adam Crisafulli, founding father of market commentary firm Vital Knowledge. “This just means individuals are blindly chasing.”

4. Flight delays ease after FAA failure

Passengers walk past a flight status board in Terminal C at Orlando International Airport that shows many delays, Wednesday, Jan. 11, 2023, after the FAA grounded all U.S. flights earlier within the day.

Joe Burbank | Tribune News Service | Getty Images

Air travel began to return to normal Thursday in the US, a day after a Federal Aviation Administration system failure delayed greater than 10,000 flights. As of Thursday morning, greater than 400 flights were delayed. The FAA said the failure was the results of a “damaged database file” that officials addressed by rebooting the system. Lawmakers on either side of the aisle said they planned to analyze the matter, as did the FAA. “When there is a problem with a government system, we will own it, we’re going to search out it, and we will fix it,” Transportation Secretary Pete Buttigieg said. The Biden administration said there was no evidence of a cyber attack.

5. Starbucks toughens return to office policy

Former chairman and CEO of Starbucks, and United States 2020 presidential candidate Howard Schultz visits Fox & Friends at Fox News Channel Studios on April 2, 2019 in Recent York City.

Steven Ferdman | Getty Images

Corporate staff at Starbucks will soon be required to return to their offices at the very least three days every week, CEO Howard Schultz told employees in a memo. Office staff were expected to are available a few times every week, but badge swpe data showed employees weren’t living as much as that request, in line with Schultz. The coffee chain is the most recent major company to issue a stricter return-to-office policy. Earlier this week, as an example, Disney’s Bob Iger told staff they needed to return to offices at the very least 4 days every week.

– CNBC’s Patti Domm, Yun Li, Sarah Whitten, Leslie Josephs and Amelia Lucas contributed to this report.

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