5 things to know before the stock market opens on Thursday, October 13

Here are the most important news items investors need to start their trading day:

Investors will have plenty of numbers to chew on this morning. The government is expected to release the consumer price index, a measure of inflation, as well as weekly jobless claims data. These reports follow a higher-than-expected producer price index on Wednesday. Income is also on the rise. Delta Airlines reported Thursday morning, Walgreens too. (See Delta below.) The market is experiencing a quiet day as all three major US indexes are down slightly on Wednesday. Read live market updates here.

Minutes of the Fed’s September meeting show Policymakers were surprised by continuously raising prices, even as they aggressively raise the exchange rate to cool down the economy. “Participants commented that recent inflation data has often exceeded expectations and correspondingly, inflation is falling more slowly than previously anticipated,” the minutes read. The big step, however, is this: Rate hikes will continue until inflation improves. However, according to CNBC’s Jeff Cox, some Wall Street traders saw a crack in the Fed’s facade in this line right from the minutes: “Some participants noted that, especially during Given the current uncertain global economic and financial environment, it is important to adjust the pace of policy tightening further with the aim of minimizing the risk of a significant adverse effect on the economic outlook.”

Read more: Moody’s Analytics ‘Mark Zandi sees significant drop in inflation within six months

Delta Airlines said on Thursday that it expects post one more profit in the last quarter of the year, when people are expected to take to the skies for vacation after more than two years of Covid restrictions and caution. “The travel recovery continues as consumer spending shifts to experiences and improved demand in business and internationally,” Chief Executive Officer Ed Bastian said in an earnings announcement. The company notes that its capacity is also improving – saying it will be restored to 92% of pre-pandemic levels in the fourth quarter. It also aims to achieve a full recovery by next summer.

As Russian missiles and drones continue to strike several Ukrainian cities, killing civilians and blacking out power, President Volodomyr Zelenskyy has begged for more international help in defense. are not. He said Ukraine only has 10% of the air defense capabilities it needs, according to Reuters. In another development, Russian leader Vladimir Putin is expected to meet with the President of Turkey, Recep Tayyip Erdogan. The Turkish leader is expected to formally offer to hold peace talks between Russia and Western nations to end the Ukraine war. However, Zelenskyy said he will not negotiate with Putin and will only talk when Russian forces leave his country. Read live updates on the war here.

The UK economy is a chaotic mess. Inflation is on the rise, homes are facing high energy costs and the prospect of winter blackouts, and the government’s economic plans have caused a bloodbath in the bond market. affect their currency. The economy also shrank 0.3% in August. Analysts see this as the start of a recession that could last a while. “We now believe the UK recession has begun in the third quarter of 2022 and is likely to last for three quarters. Our short-term GDP outlook predicts the recession will extend into 2023 as a result of the budget. Households are tight and stretched, boosting consumer Raj Badiani, of S&P Global Market Intelligence, said. from CNBC’s Elliot Smith.

– CNBC’s Alex Harring, Jeff Cox, Leslie Josephs, Holly Ellyatt and Elliot Smith contributed to this report.

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