10 things to watch in the stock market Wednesday, including hot inflation

1. Stocks sold off Wednesday after the January consumer price index, which measures retail inflation, came in hot. Larger-than-expected increases in both headline and core CPI caused a spike in bond yields, with the 10-year Treasury pushing above 4.6%. The government’s January producer price index, which measures wholesale inflation, is out Thursday morning.

2. CVS reported better than expected fourth quarter, with sales of $97.71 billion and adjusted earnings per share of $1.19. The company’s 2025 outlook was roughly in line with estimates. The stock jumped 10%.

3. Kraft Heinz beat on fourth-quarter earnings, but organic revenue declined more than expected. The company guided first quarter 2025 organic net sales lower quarter over quarter. The stock dropped 6%.