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5 things to know before the stock market opens Thursday

Michael Wayland / CNBC
  • Stocks rise ahead of CPI report.
  • Streaming on Disney will get more expensive.
  • Roblox stock saw a rough day.

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

1. High hopes

Traders work on the floor of the New York Stock Exchange during morning trading on July 06, 2023 in New York City. 
Michael M. Santiago | Getty Images
Traders work on the floor of the New York Stock Exchange during morning trading on July 06, 2023 in New York City. 

Stock futures were higher following another down session on Wall Street. Dow Jones Industrial Average futures increased 192 points, or 0.6%. S&P 500 futures and those tied to the Nasdaq-100 rose 0.6% and 0.7%, respectively. Investors are waiting for the latest reading of the consumer price index at 8:30 a.m. ET. Many are hoping that, along with Friday's producer price index, the data will show signs of disinflation. Follow live market updates.

2. Inflation data ahead

A customer shops in a Kroger grocery store on July 15, 2022 in Houston, Texas. 
Brandon Bell | Getty Images
A customer shops in a Kroger grocery store on July 15, 2022 in Houston, Texas. 

Wall Street analysts are anticipating that Thursday's consumer price index report will show prices increasing at a slower pace. But that might not be enough for the Federal Reserve to pull back its fight against inflation. The CPI report is expected to show a monthly increase of 0.2% for July and a 12-month rate of just 3.3%, according to the Dow Jones consensus estimate. That would be a drastic change from the 8.5% annual rate that the CPI registered at the same time a year ago.

3. Disney cracks down

Disney+ logo is seen on a TV remote control in this illustration photo taken in Krakow, Poland on April 18, 2023.
Nurphoto | Getty Images
Disney+ logo is seen on a TV remote control in this illustration photo taken in Krakow, Poland on April 18, 2023.

Disney announced Wednesday that it would raise the price of almost all of its streaming options starting in October, as well as cracking down on password sharing. The ad-free version of Disney+ will go up 27% to $13.99 per month, while the price of Hulu without ads will jump 20%, to $17.99 per month. The hikes come as Disney looks to accelerate profitability for the business. The company reported mixed results for its fiscal third quarter amid ongoing subscriber losses and falling revenue. Still, its stock was up 1.4% Thursday morning after announcing the streaming changes.

4. Roblox rocked

Rafael Henrique | Lightrocket | Getty Images

Roblox stock sank more than 20% Wednesday after the company reported second-quarter earnings that fell short of analysts' expectations. Roblox reported a loss of 46 cents per share for the quarter vs. an expected loss of 45 cents. The company also logged revenue, or bookings, of $781 million vs. $785 million expected. Roblox generates revenue from sales of its virtual currency called Robux, which players use to dress up their avatars and buy other premium in-game features.

5. Electric dreams

GM on Wednesday unveiled an all-electric version of its Cadillac Escalade. The luxury SUV is expected to retail late next summer starting at around $130,000 and has a 55-inch LED screen on its dashboard. The 2025 Cadillac Escalade IQ also has an estimated mile range higher than any GM EV to date, at 450 miles. It's the first traditional Cadillac model to be released as an electric vehicle, a key move as GM positions Cadillac to be its luxury EV brand.

— CNBC's Samantha Subin, Sarah Whitten, Alex Sherman, Lillian Rizzo, Jeff Cox, Ashley Capoot and Michael Wayland contributed to this report.

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