5 Things to Know Before the Stock Market Opens

The August Consumer Price Index (CPI) figures are due this morning, with economists expecting cooling inflation to help influence the size of the Federal Reserve‘s likely rate cut this month; shares of Truth Social parent Trump Media & Technology Group (DJT) are tumbling in premarket trading following the debate between former president Donald Trump and Vice President Kamala Harris; Amazon (AMZN) said it plans to spend 8 billion pounds ($10.5 billion) to build and operate data centers in the U.K. over the next five years; GameStop’s (GME) larger-than-expected sales drop is driving down the meme stock‘s shares; and JPMorgan Chase (JPM) shares are edging lower after recording their biggest one-day decline since June 2020. U.S. stock futures are falling after closing mixed Tuesday. Here’s what investors need to know today.

1. CPI Data Expected to Show Cooling Inflation

Investors are waiting for this morning’s release of the Consumer Price Index (CPI), which is expected to show that inflation is receding and edging toward the Federal Reserve’s 2% annual rate goal. That would clear the path for the Fed to cut its benchmark interest rate at its Sept. 17-18 policy meeting. The CPI is forecast to have risen 2.6% year-over-year through August, down from a 2.9% annual increase in July, according to a survey of economists by Dow Jones Newswires and The Wall Street Journal. 

2. Trump Media Stock Plunges After Harris Debate

Shares of Trump Media & Technology Group (DJT), the operator of Donald Trump’s Truth Social, are tumbling 15% in premarket trading, as investors digested the details of the debate between the former president and Vice President Kamala Harris. The two sparred on economic topics including tariffs, inflation, and student loans. The stock is seen as a barometer of support about Trump’s candidacy for president.

3. Amazon to Invest $10.5B in UK Over Next Five Years in Cloud, AI Push

Amazon (AMZN) said it plans to spend 8 billion pounds ($10.5 billion) to build and operate data centers in the U.K. over the next five years through 2028, in a massive expansion of its cloud and artificial intelligence (AI) infrastructure. Cloud computing division Amazon Web Services (AWS), a key driver of the tech giant’s growth, will contribute 14 billion pounds to the country’s GDP in that span and support around 14,000 jobs annually, Amazon said. The tech firm’s shares are little changed in premarket trading.

4. GameStop Tumbles After Weaker-Than-Expected Quarterly Sales

GameStop (GME) shares are falling 9% in premarket trading after the video game retailer recorded a larger-than-expected slump in quarterly sales even though it swung to a surprise profit. The stock had risen more than 30% this year through Tuesday’s close, partly due to spikes driven by social media posts from the meme stock influencer Keith Gill, also known as “Roaring Kitty.”

5. JPMorgan Slips After Notching Biggest One-Day Drop Since 2020

JPMorgan Chase (JPM) shares are edging lower in premarket trading after slumping 5% Tuesday in their largest one-day decline since June 2020. Tuesday’s drop came after the bank’s president said Wall Street’s expectations for 2025 net interest income and expenses were overly optimistic amid impending interest-rate cuts and lingering inflation. The bank’s shares are up 20% this year amid gains from high lending rates. 

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