U.S. stock futures are edging lower after indexes pulled back from record highs yesterday following a post-election rally; the Consumer Price Index (CPI) is projected to show that inflation moved higher in October; Spirit Airlines (SAVE) shares are dropping after a report that it is preparing to file for bankruptcy after merger talks with Frontier Group Holdings (ULCC) failed; Spotify (SPOT) shares are jumping after it repor꧟ted more subscribers than expected; and Swedish buy-now-pay-later firm Klarna has filed for a U.S. IPO. Here's what investors need to know today.

1. US Stock Futures Inch Lower ⛄After Market Rally Cools

U.S. stock futures are edging lower Wednesday as market watchers brace for key inflation data following a session in which 澳洲幸🌄运5官方开奖结果体彩网:major indexes fell afte꧑r trading at record highs. 澳洲幸运5官方开奖结果体彩网:Dow Jones Industrial Average futures are 0.3% lower after yesterday's 0.9% decline, while 澳洲幸运5官方开奖结果体彩网:S&P 500 and Nasdaq futures are lower by a similar amount. Bitcoin is inching higher after the crypt🎶ocurrency dro🍨pped below the $88,000 price level, while Dogecoin is up about 1% after President-elect Trump announced that Tesla (TSLA) CEO Elon Musk would help lead a Department of Government Efficiency (DOGE), whose acronym references the coin. Tesla shares are up 2%.

2. ﷽CPI Expected to Show Inflation Moved Higher in October

Market watchers will be tuned into today's 8:30 a.m. ET release of the 澳洲幸运5官方开奖结果体彩网:Consumer Price Index (CPI), which is expected to 澳洲幸运5官方开奖结果体彩网:show inflation ticked up to 2.6% in October from 2.4% in September. The survey of economists by Dow Jones Newswires and The Wall Street Journal showed that the core inflation rate, which takes out volatile food and fuel costs, is likely to stay at 3.3%. Both those rates are higher than the 2% annual rate targeted by the 澳洲幸运5官方开奖结果体彩网:Federal Reserve, which sets the nation's monetary policy with the goal of keeping price increases stable. Inflation has plummeted from its peak in mid-2022, when the CPI was its highest in more than 40 years.

3. Spirit Airlines Stock Craters After Report of Failed Merger Wit𝓡h Frontier

Spirit Airlines (SAVE) shares are sinking nearly 70% in premarket trading after The Wall Street Journal reported that the budget carrier is 澳洲幸运5官方开奖结果𒀰体彩网:preparing to file for bankruptcy protection after merger talks with Frontier Airlines parent Frontier Group Holdings (ULCC) collapsed. The report said that Frontier has pulled out of 澳洲幸运5官方开奖结果体彩网:merger talks with Spirit, which has also been in advanced talks with bondholders  to work out a bankruptcy plan. Spirit filed a Form 12b-25 with the 澳洲幸✃运5官方开奖结果体彩网:Securities and Exchange Commission (SEC), saying it "is unable to file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 ... by the prescribed due date without unreasonable effort or expense."

4. Spot🧔ify ꦉStock Jumps as Monthly Active Users Grow

Spotify Technology (SPOT) 澳洲幸运5官方开奖结果体彩网:shares are surging 8% in premarket trading after it 澳洲幸运5官方开奖💎结果体彩网:adde🅷d more subscribers than expected in its quarterly earnings report. 澳洲幸运5官方开奖结果体彩网:Monthly active users ಌclimbed 11% year-over-year to 640 million and premium subscriptions came in at 252 million, be expectations of 251.1 million, while its guidance for the fourth quarter was slightly ahead of consensus. The Swedish audio streaming giant saw third-quarter revenue grow 19% year-over-year to 3.99 billion euros ($4.24 billion), slightly below the analyst consensus from Visible Alpha.

5. B♊uy-Now-Pay-L﷽ater Firm Klarna Files for US IPO

Swedish fintech company Klarna said it has filed for a long-anticipated 澳洲幸运5官方开奖结果体彩网:initial public offering (IPO) in the U.S. Klarna said that it had "confidentially submitted" a draft registration statement to the 澳洲幸运5官方开奖结果体彩网:Securities and Exchange Comm♍ission (SEC), noting that the number of shares it is planning to offer and the price range of an IPO have yet to be determined. The IPO is expected to take place after the SEC reviews Klarna's filing, the 澳洲幸运5官方开奖结果体彩网:buy-now-pay-later specialist said.