5 things to know before the stock market opens Tuesday, December 13th

Here are the top stories investors need to start their trading day:

The latest government inflation reading is due to drop at 8:30 a.m. ET. Economists polled by Dow Jones We expect consumer price index for November To show an annual growth rate of 7.3%, which will be down from the pace of 7.7% in October. The report will be released as Federal Reserve policymakers begin their two-day meeting, during which they will decide on the next interest rate hike, which is widely expected to be half a percentage point. Also on Wednesday, Federal Reserve Chairman Jerome Powell will provide an update on the central bank’s outlook for the economy. Investors seem ready for some good news. Stocks rose on Monday, with the Dow jumping 528 points. Read live markets updates over here.

Sam Bankman-Fried, the once-genius billionaire white knight of the crypto world, Now in handcuffs. Authorities arrested him in the Bahamas on Monday after US federal prosecutors filed charges against him, weeks after the company he founded, FTX, collapsed after being valued at $32 billion. SBF, as it is also known, still needs to be extradited to the United States, which is likely, given the cooperation of the Bahamas authorities thus far. Legal experts told CNBC that the SBF could face decades in prison if convicted on the anticipated fraud and conspiracy charges. However, given the magnitude and complexity of the issue, It may be years before there is a result.

Read more: Binance is temporarily halting USDC stablecoin withdrawals

Legacy automakers are talking big about their plans to transition away from fossil fuel-powered engines. general motorsin particular, said that she expected it That the profits of electric vehicles be comparable by gas car profits by 2025. For now, though, the Detroit icon’s fleet has one Worst fuel economy readings in the auto industry, according to the Environmental Protection Agency. Just stellants, formerly Fiat Chrysler, was even worse. Overall, though, vehicle fuel economy hit an all-time high of 25.4 miles per gallon in 2021, boosted by the electric automaker. Tesla And a strong camel show.

Read more: The electric Ford F-150 Lightning has been named MotorTrend Truck of the Year

inspiration came up with Strong earnings report on Monday. The tech giant beat Wall Street expectations for adjusted earnings per share, while revenue grew 18% year-over-year to $12.28 billion, above estimates of $12.05 billion. Its margins have also expanded. Oracle’s cloud companies made a big boost, too. Revenue from cloud services and license support increased 14%, while cloud infrastructure revenue increased 53%. It wasn’t all rosy, though. Oracle provided earnings guidance for the current quarter, which came in below analyst estimates.

Russia has begun launching a new round of Iranian drones, according to Ukrainian authorities, in a sign that the Kremlin’s air offensive will continue unabated. Russian forces have used drones to target Ukraine’s infrastructure, leading to power outages and other hardships as the nation grapples with freezing weather. Elsewhere, Ukraine’s president, Volodymyr Zelensky, has called on Russian forces to leave his country in time for Christmas. This is unlikely, however. Read live war updates over here.

— CNBC’s Samantha Sobin, Patti Domme, Mackenzie Sigalos, Rohan Goswami, Michael Weiland, Emma Neuberger and Holly Elliott contributed to this report.

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