5 Things to Know Before Markets Open

News of the day for April 12, 2023

CPI Inflation

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Inflation comes in lower than expected and Warner Bros Discovery has plans for a new streaming service. Here’s what investors need to know today.

1. Inflation Rises Less than Expected

The Labor Department’s Consumer Price Index (CPI) rose 0.1% last month, less than the 0.2% gain economists projected after February's 0.4% gain. On an annual basis, the index was up 5%, down from 6% the month before and also below estimates in the smallest 12-month gain since May 2021. Excluding volatile food and energy components, the core CPI ticked up 0.4% in March and was up 5.6% from a year ago, accelerating slightly from 5.5% in February as housing costs rose. The index for shelter was the largest contributor to the monthly increase.

2. Warner Bros Discovery to Launch New Streaming Service

Warner Bros Discovery will unveil a new streaming service that combines HBO Max with Discovery+ as it seeks to achieve profitability. The service is expected to be called “Max” and is meant to help the company compete more directly with Netflix and Disney.

3. National Instruments Share Surging on Talks of Emerson Deal

National Instruments (NATI) shares are surging 8% in pre-market trading on reports Emerson Electric is in advanced talks to acquire the maker of measurement systems. The deal could be worth as much as $8 billion.

4. Triton Share Are Up After Acquisition Announcement

Triton International (TRTN) shares are up over 30% after the company announced it will be acquired by Brookfield Infrastructure. Triton shareholders will receive consideration valued at $85 per share in cash and stock. Brookfield (BN) shares are rising 2.15% on the announcement.

5. Almost Half of Americans Won't Consider EV For Next Auto Purchase

Nearly half of Americans at 47% say it is unlikely they will buy an electric vehicle as their next car, according to a poll by the Energy Policy Institute at the University of Chicago and AP-NORC Center for Public Affairs Research. Respondents cited high prices and concerns about charging infrastructure as barriers to purchase, even as the Biden administration pushes for a big rise in EVs over the next few years. The White House has said it wants to see 500,000 EV chargers on the country’s roads by the end of the decade.

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  1. CNBC. “Inflation rises 0.1% in March, less than expected.”

  2. New York Times. “HBO and Warner Bros. Discovery to Unveil New Max Streaming Service.”

  3. Reuters. “Emerson Electric nears $8 bln deal for National Instruments - sources.”

  4. Reuters. “Brookfield Infrastructure to take Triton International private for $4.7 bln.”

  5. AP News. “4 in 10 say next vehicle may be electric: AP-NORC/EPIC poll.”

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