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
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
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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