5 Things to Know Before the Stock Market Opens

The release of the September Consumer Price Index (CPI) data is expected to show declining inflation; Tesla (TSLA) is set to unveil its highly anticipated “robotaxi”; Advanced Micro Devices (AMD) is expected to show off its latest server processors and chips for artificial intelligence (AI); Delta Air Lines (DAL) shares are declining in premarket trading as its quarterly revenue and adjusted profit come up short; and shares of TD Bank (TD) are falling on a report that it is set to pay around $3 billion in penalties and accept limits on its U.S. growth over charges it failed to curb money laundering. Here’s what investors need to know today.

1. CPI Report Expected to Show Declining Inflation

Market watchers are looking for a drop in inflation today with the 8:30 a.m. ET release of the Consumer Price Index (CPI) for September. According to a survey by Dow Jones Newswires and The Wall Street Journal, economists expect the inflation index to show prices increased at an annual rate of 2.3% in September, in what would be its lowest reading since February 2021. The Federal Reserve is looking for signals that inflation continues to cool, and a lower CPI reading could signal that the central bank is more likely to follow through on its projections of more interest-rate cuts.

2. Tesla Set to Unveil Highly Anticipated ‘Robotaxi’

Investors are anticipating today’s Tesla (TSLA) “robotaxi” event, where the electric vehicle (EV) maker is expected to show off its autonomous taxi and also provide updates on other products, including a lower-priced EV and Optimus humanoid robot. Tesla shares are 1% higher in premarket trading.

3. AMD Expected to Show Off Latest Chips, Accelerators at AI Event

Chipmaker Advanced Micro Devices (AMD) is expected to present its latest advancements in artificial intelligence (AI) technology at its 2024 Advancing AI event today. Analysts see AMD highlighting its line of Instinct GPU accelerators and EPYC server processors at the event, and potentially offering a glimpse into how it plans to capture a larger share of the AI accelerator market. Shares of AMD, which have gained about 16% this year through Wednesday, are up less than 1% in premarket trading.

4. Delta Air Lines Shares Move Lower After Quarterly Results Come Up Short

Shares of Delta Air Lines (DAL) are declining 4% in premarket trading after the carrier’s quarterly earnings report showed that revenue and adjusted profit came in below analysts’ estimates. Delta posted third-quarter adjusted earnings per share (EPS) of $1.50 on revenue of $15.68 billion, below consensus expectations of analysts polled by Visible Alpha. Delta also projected fourth-quarter revenue growth of between 2% and 4%, lower than estimates.

5. TD Bank Faces $3B Penalty, US Growth Cap

U.S. regulators are expected to impose $3 billion in penalties on TD Bank (TD) as part of a settlement over charges that it failed to monitor money laundering by drug cartels, according to The Wall Street Journal. The Office of the Comptroller of the Currency is also expected to impose an asset cap that would limit the U.S. growth of the Canadian bank. Shares of TD Bank are roughly 5% lower in premarket trading.

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