5 things to know before the stock market opens Wednesday

5 things to know before the stock market opens Wednesday

1. Futures turn lower after consumer prices remain at four decade highs turned lower Wednesday after the first of two key April inflation reports this week showed consumer prices were still at 40-year highs. The data further raises concern that inflation will remain high as the economy slows. The producer price index for April is set release Thursday. 2. 10-year Treasury yield goes back above 3% on strong inflation data The popped back above 3% on Wednesday after the government's rose a stronger-than-expected 8.3% year over year. Removing volatile food and energy prices, so-called core CPI still rose a great-than-expected 6.2%. 3. U.S. oil prices advance after two days of sharp supply concern losses A source of inflation in the economy has been oil prices and in turn record-high gasoline prices. , the American benchmark, about 3% to $103 per barrel Wednesday after back-to-back sharp declines. 4. Coinbase slumps after the crypto exchange turns in weak quarter Shares of sank 20% in Wednesday's premarket, the morning after the crypto exchange reported quarterly revenue dropped 27% to $1.17 billion, . It also announced a quarterly loss of $1.98 per share. Coinbase noted a decline in users, with the digital currency market