5 Things to Know Before the Stock Market Opens

The S&P 500 (and Nasdaq) hit fresh record highs, but markets opened cautiously as stock futures slipped ahead of a crucial CPI report. April inflation is expected to jump to 3.8% year‑over‑year (from 3.3% in March), a rise driven by higher gasoline and energy prices tied to slower-than-expected Iran ceasefire talks. Oil (WTI) surged more than 3% to about $101/bbl, weighing on risk appetite and reducing near‑term odds of Fed rate cuts. Safe-haven gold was little changed while bitcoin traded around $80,700 after an overnight high near $82,000. On corporate news, eBay rejected GameStop’s takeover bid, Hims & Hers reported a surprise Q1 net loss and trimmed EBITDA guidance, and GitLab announced layoffs to reallocate spending to AI—each pressuring the respective stocks. Overall, the market tone is mixed as record index highs contend with rising inflationary pressures and geopolitical-driven commodity moves.