5 things to know before the stock market opens

Stock futures rose as investors awaited the release of key inflation data this morning. CPI report expected to show inflation rose in September amid tariff pressures; President Trump said he has ended trade negotiations with Canada. Intel (INTC) shares rose after the beleaguered chipmaker reported better-than-expected earnings and an upbeat outlook; Ford (F) gains after its earnings beat Wall Street estimates. Here’s what you need to know today.

1. Stock futures rise before inflation data

Stock futures rose this morning as earnings reports continue to roll in and investors prepare for the release of the headline inflation report. Futures tied to the tech-heavy S&P 500 and Nasdaq recently rose 0.3% and 0.5%, respectively, while Dow Jones Industrial Average futures added 0.2%. Major indexes are coming out of a winning session on Thursday and are on track for a second straight week of gains. Gold futures fell 1.6% to $4,080 an ounce, as trading in the precious metal remains volatile, while bitcoin reached $111,100, up from an overnight low of $109,400. The yield on the 10-year Treasury note, which affects borrowing costs on all types of consumer loans, rose to 4.01% from 3.99% at yesterday’s close.

2. The CPI report is expected to show inflation rising in September

After delays due to the government shutdown, the CPI inflation report is expected to show inflation rose in September as tariffs pushed up prices. Economists surveyed Dow Jones Newswires and The Wall Street Journal Prices are estimated to have risen 3.1% last month compared to a year ago, representing the highest annual inflation rate since May 2024. The CPI numbers, scheduled for release at 8:30 a.m. EDT, will be closely watched by the Federal Reserve, which is expected to cut interest rates when its policy committee meets next week. The September inflation report was originally scheduled to be released on October 15, and could be one of the few official economic data produced by government statistical agencies during the lockdown.

3. Trump says trade negotiations with Canada are over

President Donald Trump said all trade negotiations with Canada have been terminated after the Ontario provincial government used audio of former President Ronald Reagan criticizing tariffs in television ads that aired in the United States. Trump called the ads “fake” and released a letter from the Ronald Reagan Presidential Foundation and Institute saying the ad misrepresents a radio speech the former president gave in 1987. Trump said the ad is intended to influence the Supreme Court’s current review of tariffs. “Tariffs are very important to the national security and economy of the United States,” Trump wrote. Trump’s trade threat comes after he already proposed a series of tariffs on the country. Negotiations on the renewal of the United States-Mexico-Canada (USMCA) trade deal were scheduled to take place before the July 2026 deadline.

4. Intel shares jump thanks to strong earnings and optimistic expectations

Intel (INTC) shares rose in premarket trading after the beleaguered chipmaker said it turned profitable in the third quarter and gave an upbeat outlook for the fourth quarter. After reporting losses in the previous quarter and last year, Intel’s earnings of 23 cents per share were well above analyst estimates of 2 cents compiled by Visible Alpha. The company also reported a better-than-expected 3% increase in revenue to $13.7 billion. “We took purposeful steps this quarter to strengthen our balance sheet, including accelerated financing from the U.S. government and investments by NVIDIA and SoftBank Group that increase our operational flexibility and demonstrate the critical role we play in the ecosystem,” said CFO David Zinsner. Intel said it expects adjusted earnings of 8 cents per share in the current quarter on sales of $12.8 billion to $13.8 billion. Intel shares rose 7% in recent trading. Entering today’s session, the stock was up 90% year-to-date, fueled by a wave of high-profile trades in recent months.

5. Ford stock rises as profits exceed expectations

Shares of Ford (F) rose this morning after the Big Three automaker reported results that easily beat Wall Street expectations on the top and bottom lines. Ford reported a 9% jump in revenue to $50.5 billion, compared to the analyst consensus of $46.3 billion, while its adjusted earnings per share of 60 cents beat expectations of 34 cents. However, citing costs from a factory fire in New York that could range between $1.5 billion and $2 billion, Ford lowered its 2025 forecast for adjusted earnings before interest and taxes to between $6 billion and $6.5 billion, from $6.5 billion to $7.5 billion previously. Ford shares, which were up 25% through Thursday’s close in 2025, rose 4% in recent premarket trading.