5 Things to Know Before the Stock Market Opens | Global News Avenue

U.S. stock futures edged lower after pulling back from record highs following post-election rally; Consumer Price Index (CPI) Inflation expected to be higher in October; Spirit Airlines (save) There are reports that the company is preparing to file for bankruptcy following merger talks with Frontier Group Holdings (Extra large capacitor) failed; Spotify (point) shares rose after reporting more than expected subscriptions; Swedish buy now, pay later company Klarna has filed for a U.S. initial public offering. Here’s what investors need to know today.

1. U.S. stock index futures edged lower after market rebound cooled

U.S. stock futures edged lower on Wednesday as market watchers awaited key inflation data after the meeting Major stock indexes fall after hitting record highs. Dow Jones Industrial Average Futures fell 0.3% after falling 0.9% yesterday, while S&P 500 Index and Nasdaq Futures prices fell by a similar amount. Bitcoin edged higher after Cryptocurrency drops below $88,000 price levelwhile President-elect Trump announced that Tesla (Tesla) CEO Elon Musk will help lead the Department of Government Effectiveness (DOGE), whose abbreviation references the coin. Tesla shares rose 2%.

2. October CPI is expected to show higher inflation

Market watchers will be watching the release today at 8:30 a.m. ET Consumer Price Index (CPI)expected Shows inflation rising to 2.6% October’s increase was higher than September’s 2.4% increase. economist survey Dow Jones Newswires and wall street journal The data showed that after excluding volatile food and fuel costs, core inflation was likely to remain at 3.3%. Both rates are above the 2% annual interest rate target Fedthe goal of formulating national monetary policy is to maintain stable price growth. Inflation has fallen sharply from its peak in mid-2022, when CPI hit its highest level in more than 40 years.

3. Spirit Airlines stock price plummeted after merger with Frontier failed

Spirit Airlines (save) shares fell nearly 70% in pre-market trading wall street journal According to reports, low-cost airlines are Preparing to file for bankruptcy protection Following merger talks with Frontier Airlines parent company Frontier Group Holdings (Extra large capacitor) collapsed. Frontier has reportedly exited merger negotiations Spirit has also been in advanced talks with bondholders to develop a bankruptcy plan. Spirit filed Form 12b-25 with U.S. Securities and Exchange Commission (SEC)), stating that “the filing of our Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 by the required deadline would not be possible without unreasonable effort or expense.”

4. Spotify shares rise as monthly active users grow

Spotify Technology (point) Stock price surges Later pre-market trading is 8% Added more subscribers than expected in its quarterly earnings report. Number of monthly active users Up 11% year over year to 640 million, with premium subscriptions at 252 million versus expectations of 251.1 million, while its fourth-quarter guidance was slightly above consensus. The Swedish audio streaming giant’s third-quarter revenue rose 19% year-on-year to 3.99 billion euros ($4.24 billion), slightly below the Visible Alpha analyst consensus.

5. “Buy now, pay later” company Klarna files for U.S. IPO

Swedish fintech company Klarna says it has submit For a long-awaited Initial Public Offering (IPO) in the united states Klarna said it had submitted a draft registration statement to the FDA “confidentially.” U.S. Securities and Exchange Commission (SEC)), noting that the number of shares it plans to issue and the price range of its initial public offering have yet to be determined. The IPO is expected to proceed after the SEC reviews Klarna’s filings Buy Now Pay Later Expert explain.