5 things to know before the stock market opens on Wednesday

Happy Wednesday. Yesterday’s inflation data reminded me that my preference for beef over chicken is hurting my grocery bill.

Stock futures are falling this morning. The three major indexes have come out of the decline.

Here are five important things investors need to know to start their trading day.

The so-called “core” values ​​of the consumer price index for December were lower than economists expected yesterday, both on a monthly and annual basis. This data is a double-edged sword. While a positive sign for shoppers looking for price relief, the report could also justify the Federal Reserve not cutting interest rates again.

Here’s what you need to know:

Core data, which excludes volatile food and energy prices, showed an increase of 0.2% from November and 2.6% year-on-year. Economists polled by Dow Jones had expected monthly and annual increases of 0.3% and 2.7%, respectively. Items such as coffee and lettuce put upward pressure on overall inflation. See the full breakdown here. Investors say colder-than-expected core data likely won’t be enough to prompt the Fed to cut rates at this month’s policy meeting. Traders do not have to wait long for the next inflation statistics. The producer price index, a measure of cost increases for wholesalers, is scheduled to be released at 8:30 a.m. ET. Economists point to President Donald Trump’s tariffs as a driver of inflation. A Supreme Court ruling on the legality of many of these levies could be announced as early as today. Follow live market updates here.

Last night’s latest news: Iconic luxury retailer Saks Global has filed for bankruptcy protection after running out of cash. The 159-year-old company has filed for Article 11. This means there is a chance to restructure the business, deal with debt and find a buyer.

Mr. Sachs announced this morning that former Neiman Marcus CEO Geoffroy van Raemdonk will become CEO effective immediately. He replaces Richard Baker, who served in the role for two weeks (yes, one week).

The parent company of Neiman Marcus and Bergdorf Goodman also announced that it had secured approximately $1.75 billion in financing commitments. CNBC reported last week that Saks was struggling to raise as much as $1 billion in so-called debtor financing.

President Trump said on social media yesterday that he had “cancelled all meetings” with Iranian officials following the Middle Eastern country’s crackdown on anti-government protesters. He said rallies would not resume “until the senseless killing of protesters is over.”

Trump also said that “help is on the way” and promised that Iranians should “continue to protest.” Those who kill or abuse others in the country “will pay a heavy price,” Trump added.

usa crude oil and brent Prices rose more than 2% each yesterday. Oil prices continued to rise this morning.

About 4 years ago meta We shifted our focus from social media to the metaverse. Now, the tech giant is once again shifting its focus to temporal artificial intelligence.

As CNBC’s Jonathan Vanian reports, Meta is cutting about 10% of its staff at its Reality Lab division, which focuses on Metaverse-related virtual reality projects. This equates to more than 1,000 jobs. Additionally, sources say Meta is closing down a number of studios that were developing VR titles.

The cuts come as Meta redirects resources to AI, but the company hasn’t completely abandoned VR. Meta is trying to take him with him. roblox Officials say developers will be building experiences for the Horizon Worlds platform.

In an exclusive two-hour special that aired last night, CNBC’s Becky Quick sat down with Warren Buffett’s three children to discuss how they plan to one day transfer Omaha’s $150 billion fortune. Watch that conversation here.

CNBC’s Jeff Cox, Greg Iacurci, Hugh Son, Spencer Kimball, Jonathan Vanian, Gabrielle Fonrouge, Jessica Golden, Yun Li and Becky Quick contributed to this report. Josephine Rozelle edited this version.