5 things to know before the stock market opens on Tuesday

Here are the most important information investors need to start their trading day:

The government’s latest reading on inflation is expected to drop at 8:30 a.m. ET. Economists polled by Dow Jones expect November’s consumer price index to post a year-on-year growth rate of 7.3%, down from the pace 7.7% in October. The report will come just as Federal Reserve policymakers begin their two-day meeting, during which they will decide on their next rate hike, which is expected to be well within half a percentage point. On Wednesday, Fed Chairman Jerome Powell will also provide an update on the central bank’s economic outlook. Investors seem ready to receive good news. Stocks jumped on Monday, with the Dow Jones jumping 528 points. Read live market updates here.

Sam Bankman-Fried, the former white knight billionaire prodigy of the crypto world, is now handcuffed. Bahamian authorities arrested him on Monday after US federal prosecutors filed charges against him, weeks after the company he founded, FTX, went bankrupt after being valued at $32 billion. SBF, as he is also known, is yet to be extradited to the United States, which is likely given Bahamian authorities’ cooperation thus far. SBF could end up facing decades in prison if convicted of the expected fraud and conspiracy charges, legal experts have told CNBC. However, given the scale and complexity of the case, it could be years before there is an outcome.

Read more: Binance Temporarily Halts USDC Stablecoin Withdrawals

Traditional automakers are talking big about their plans to go electric and move away from fossil fuel engines. General Motors, in particular, said it expects its EV profits to be on par with its gas-powered vehicles by 2025. For now, however, the Detroit icon’s fleet has one of the worst fuel mileage in the auto industry, according to the Environmental Protection Agency. Only Stellar, formerly known as Fiat Chrysler, was worse. Overall, however, vehicle fuel economy hit an all-time high of 25.4 miles per gallon in 2021, backed by the electric carmaker You’re here and a strong presence of hybrids.

Read more: Electric Ford F-150 Lightning named Truck of the Year by MotorTrend

Oracle came with a strong earnings report on Monday. The tech giant beat Wall Street expectations for an earnings-per-share adjustment, while revenue rose 18% year-over-year to $12.28 billion, beating expectations. estimates of $12.05 billion. Its margins have also widened. Oracle’s cloud business also gave a big boost. Cloud services and license support revenue grew 14%, while cloud infrastructure revenue jumped 53%. All was not rosy, however. Oracle offered a profit forecast for the current quarter that is lower than analysts’ estimates.

Russia has begun launching a new round of Iranian drones, Ukrainian authorities say, indicating the air assault on the Kremlin will continue unabated. Russian forces have used the drones to target Ukraine’s infrastructure, leading to power outages and other hardships as the country faces extremely cold weather. Elsewhere, Ukrainian President Volodymyr Zelenskyy has called on Russian forces to leave his country in time for Christmas. It’s not likely, however. Read live war updates here.

– CNBC’s Samantha Subin, Patti Domm, MacKenzie Sigalos, Rohan Goswami, Michael Wayland, Emma Newburger and Holly Ellyatt contributed to this report.

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