5 things to know before the stock market opens on Thursday

Happy Thursday. CNBC’s “Halftime Report” and “Closing Bell” will be broadcast live from San Francisco today as part of the “AI in America” ​​special. Watch live on CNBC or CNBC+.

Nasdaq futures are down this morning. The market is coming off a tough day, but we’ll summarize it below.

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

After a quiet start to the week, shares fell in yesterday’s trading as investors worried about overspending in artificial intelligence. of S&P500 and Nasdaq Composite Each fell more than 1%, their worst day in more than two months.

Here’s what you need to know:

Yesterday’s consumer price index data beat economists’ expectations on a 12-month basis, largely thanks to higher energy prices.

The report showed that the annual CPI measure has exceeded the widely accepted inflation target of 2% for 66 consecutive years, according to a CNBC analysis. This is the longest period of this century. Cleveland Fed President Beth Hammack warned last week that consumers may be starting to accept high inflation as a “fact of life,” which could have a negative impact on the effectiveness of monetary policy tools.

Producer price index and retail sales data for September, which tracks wholesaler inflation, is scheduled to be released this morning.

When it comes to energy prices, diesel prices are still rising heading into the midterm elections. CNBC’s Gabriel Cortez reported that analysts don’t expect costs to come down anytime soon, despite President Donald Trump’s recent diesel vehicle deal with Russia.

Ukrainian President Volodymyr Zelenskiy also told the Financial Times that Russia was not abiding by the end of the “energy ceasefire” announced by President Trump on Sunday, and that Kiev would resume attacks on Russian oil refineries. The proposed ceasefire was another apparent attempt to lower diesel and oil prices.

Meanwhile, a container ship sank in the Strait of Hormuz yesterday as Iran steps up attacks on commercial ships in a bid to stop oil exports there.

Netflix In a memo obtained by CNBC, the company said it would lay off about 6% of its workforce, which equates to about 1,000 people. The layoffs primarily impact the streamer’s product, technology, legal and human resources teams.

The layoffs come just weeks after Netflix co-CEO Ted Sarandos said the streaming giant was “not growing as fast as I would like.” “Our business is strong and growing, and we remain on track to meet our full-year expectations,” Sarandos and co-CEO Greg Peters wrote in a memo to employees yesterday.

Mark your calendars: Netflix reports earnings on Tuesday.

Mortgages and student loans have commonly been referred to as “good debt.” In a new series of articles published this morning, CNBC reporters examine what the term actually means and what questions to consider before taking on “good debt.”

Experts warn that this rosy label could mask risks that are intolerable to borrowers. This is an especially important question for college students and their parents as perceptions of the benefits of higher education change.

Merck CEO Rob Davis told CNBC’s Annika Kim Constantino yesterday that he expects production of the breakthrough cancer vaccine with Moderna to accelerate over time. He said:

— CNBC’s Michelle Fox, Oliver Rennick, Isabel O’Brien, Kai Nicole-Schwartz, Hugh Song, CJ Haddad, Paulina Ricos, Li Ying-Shan, Soda Baimiya, Jeff Cox, Greg Iakrusi, Gabriel Cortez, Elsa Oren, Spencer Kimball, Catriona Marangi, Sarah Witten, Jessica Dickler, Annie Nova, Stephanie Dhue and Annika Kim Constantino contributed to this report.

Caleigh Keating helped produce this newsletter. Josephine Rozzelle edited this version.