5 things to know before the stock market opens on Thursday, January 11

Markets had a positive session on Wednesday, with all three major indices recording gains. It’s been a shaky new year for stocks, hot off the back of a strong 2023, as investors brace in anticipation of potential interest rate cuts from the Federal Reserve. All eyes will be on the December CPI, due Thursday morning, as well as wholesale inflation data on Friday. Earnings season is about to start as well. JPMorgan and Delta Air Lines lead the group that is scheduled to report before the opening bell on Friday. Citigroup, which is undergoing a major restructuring, is also scheduled to issue a report on Friday — and things aren’t looking too hot. Follow live market updates.

Thursday’s new batch of inflation data may be too exciting for market doves to handle. Economists polled by Dow Jones expect the December CPI to rise 3.2% year over year. While this is a long way from the pace that forced the Fed to raise its benchmark interest rate, it is still stubbornly high. CNBC’s Jeff Cox notes that such sentiment could disrupt market expectations, as investors look to regain their footing after a bumpy start to 2024. “The market appears to be excited that the Fed is… “It will have to do more than the Fed thinks it will in terms of rate cuts now.” “The market has gotten ahead of itself.”

Who is ready for a new era in cryptocurrencies? The Securities and Exchange Commission on Wednesday — following a false alarm on Tuesday — approved rule changes that will allow Bitcoin exchange-traded funds to be established in the United States. The move has been expected for a long time, and gives credibility to an asset that has been dismissed by many. In the world of traditional finance, including JPMorgan CEO Jamie Dimon, it is considered a risky investment. But the momentum is in Bitcoin’s favor. As CNBC’s MacKenzie Sigalos notes, a spot Bitcoin ETF will make investing in the cryptocurrency easier and less expensive.

Houthi attacks in the Red Sea have already prompted shipping companies to move a significant amount of cargo away from the main shipping route and around the southern tip of Africa. This, in turn, has led to longer shipping times and higher costs that can be passed on to consumers fed up with inflation. The worst may be yet to come, as shipping rates are expected to jump significantly on Monday. The retail industry is bracing for some tough times as well, as Iran-backed Houthi militants in Yemen continue to target commercial ships. “Redirecting ships results in longer transit times and increased costs,” said John Gould, executive director of supply chain at the National Retail Federation. “Unfortunately, the longer disruptions persist, the greater the challenges that arise in ensuring supply chain reliability and efficiency.”

He was sacked. That’s all Aaron Rodgers did on Disney-owned ESPN’s “The Pat McAfee Show” this season, removing one of the thorns in the media giant’s side. Rodgers, the New York Jets quarterback who was reportedly paid large sums by McAfee to appear on the show every Tuesday, has been vocal about his anti-vaccine views and falsely suggested that ABC late-night host Jimmy Kimmel, a Disney employee, would appear in legal documents Lists associates of late sex criminal Jeffrey Epstein. Now Rodgers is off the show, and even the host himself said he feels relieved. “There will be a lot of people who will be happy about that, including me, frankly,” he added. However, there remains the issue of McAfee’s feud with longtime ESPN executive Norby Williamson, whom the host and former NFL punter has accused of trying to sabotage his show with media leaks.

— CNBC’s Brian Evans, Hu Son, Jeff Cox, Jesse Pound, Mackenzie Sigalos and Lori Ann LaRocco contributed to this report, as did NBC News’ David K. Lee.

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