5 Things to Know Before the Stock Market Opens

U.S. stock futures are mixed as investors ready for key inflation data; economists expect today’s Consumer Price Index (CPI) release to show an inflation uptick in November; graphics software maker Adobe (ADBE) is expected to grow revenue and profit on optimism over its artificial intelligence (AI) products; Alphabet (GOOGL) stock is rising further in premarket trading after jumping Tuesday on enthusiasm over its Willow quantum computing chip; and General Motors (GM) ends its Cruise robotaxi program. Here’s what investors need to know today.

1. US Stock Futures Mixed Ahead of Inflation Data

U.S. stock futures are mixed ahead of key inflation data scheduled for release this morning. Following a second straight day of market declines spurred by tech sector weakness, Nasdaq futures are edging higher, while S&P 500 futures are little changed and Dow Jones Industrial Average futures are slightly lower. Bitcoin (BTCUSD) is trading above $98,000, while gold and crude futures also are higher. Yields on the 10-year Treasury note are higher at around 4.25% ahead of the inflation report.

2. Economists See Slight Inflation Uptick in November CPI Report

Investors are anticipating the 8:30 a.m. ET release of the November CPI report. Economists surveyed by The Wall Street Journal and Dow Jones Newswires expect the annual inflation rate to have risen 2.7%, up from 2.6% in October. After the inflation rate consistently moved lower earlier this year, the cost-of-living measurement recently has stalled. Federal Reserve officials have said they are closely watching inflation as it faces a decision on cutting interest rates again next week.

3. Adobe Expected to Report Higher Revenue, Profit on AI Enthusiasm

Adobe (ADBE) is expected to post higher revenue and profit when the graphic software maker releases its quarterly results after markets close today. Analysts tracked by Visible Alpha expect Adobe to report $5.54 billion in revenue for the quarter, with net income projected at $1.63 billion, each about 10% above the fourth quarter of 2023. Analysts are mostly bullish on the maker of Photoshop software, pointing to optimism over its AI products. Adobe stock is little changed in premarket trading.

4. Alphabet Stock Rises Further After Unveiling Quantum Computing Chip

Alphabet (GOOGL) stock is edging higher in premarket trading, a day after shares of the Google parent shot nearly 6% higher as it unveiled Willow, a quantum computing chip it said can complete computations in less than five minutes that would take some of today’s fastest supercomputers 10 septillion years. “We see Willow as an important step in our journey to build a useful quantum computer with practical applications in areas like drug discovery, fusion energy, battery design + more,” Google Chief Executive Officer (CEO) Sundar Pichai wrote on X.

5. GM Abandons Cruise Robotaxi Program

General Motors (GM) said it was abandoning its Cruise driverless ride-hailing service due to its high costs and the scale needed in an increasingly competitive market, saving the automaker approximately $1 billion a year. GM said it will instead focus on developing advanced driver assistance systems. UBS analysts said the GM plan to scrap Cruise could be a positive for Tesla (TSLA), which also is developing driverless taxi vehicles. Both GM and Tesla shares are more than 1% higher in premarket trading.