5 Things to Know Before the Stock Market Opens

U.S. stock futures are pointing slightly lower after indexes mostly gained yesterday on a positive reaction to February consumer inflation data; Intel (INTC) shares are jumping after it named a new CEO; February wholesale inflation is expected to have dropped in today’s Producer Price Index report; Adobe (ADBE) shares are falling after its earnings outlook disappointed analysts; and the Federal Trade Commission (FTC) reportedly will keep pursuing an antitrust investigation of Microsoft (MSFT) that opened during the Biden administration. Here’s what investors need to know today.

1. US Stock Futures Point Slightly Lower After Indexes Mostly Rebound Wednesday

U.S. stock futures are pointing slightly lower after indexes rebounded Wednesday on positive consumer inflation data, with investors watching for more pricing data today. Nasdaq and S&P 500 futures are down 0.6% and 0.4%, respectively, after gaining 1.2% and 0.5% yesterday. Dow Jones Industrial Average futures are ticking down by 0.3% after the blue-chip index closed slightly lower. Bitcoin (BTCUSD) is down about 1% to trade around $83,000. Yields on the 10-year Treasury note advanced to over 4.33%. Gold futures are higher. Oil futures are slightly lower.

2. Intel Stock Jumps on Naming of New CEO

Intel (INTC) shares are surging 11% in premarket trading after the chipmaker named Lip-Bu Tan its new Chief Executive Officer (CEO). Tan is the former CEO of semiconductor software company Cadence Design Systems (CDNS). Intel has been led by interim co-CEOs after former chief executive Pat Gelsinger retired in December. The move comes amid reports that Intel could sell parts of its business or form new partnerships as the struggling chipmaker seeks to engineer a turnaround.  

3. Wholesale Inflation Expected to Have Cooled in February

Investors are anticipating another good piece of inflation news today with the 8:30 a.m. ET release of wholesale pricing data. The Producer Price Index (PPI) is expected to have declined to 0.3% in February from 0.4% the prior month, according to economists surveyed by The Wall Street Journal and Dow Jones Newswires. It comes after yesterday’s release of Consumer Price Index (CPI) data that showed that inflation slowed more than expected in February, helping send markets higher.

4. Adobe Stock Falls on Weak Outlook

Shares of Adobe (ADBE) are falling more than 5% in premarket trading after the graphics software maker issued an underwhelming outlook alongside quarterly results that topped analysts’ estimates. Adobe affirmed its full-year revenue outlook of $23.3 billion to $23.55 billion and adjusted earnings per share (EPS) projection of $20.20 to $20.50, each below Visible Alpha consensus at the midpoint. CEO Shantanu Narayen said Adobe is “well-positioned to capitalize on the acceleration of the creative economy driven by AI,” while analysts prepare for more updates on the company’s AI progress at an event next week.

5. FTC to Press Forward With Microsoft Probe, Report Says

The Federal Trade Commission (FTC) reportedly will keep pursuing an antitrust investigation of Microsoft (MSFT) that opened during the Biden administration, indicating that the agency under President Donald Trump will continue to review big tech firms. Bloomberg reported that new FTC Chair Andrew Ferguson is seeking information from the company on its AI operations, including on costs to train models and obtain data. Microsoft shares are ticking lower in premarket trading.