5 things to know before the stock market opens on Tuesday, February 14th

  • Fresh inflation data came hotter than expected.
  • President Biden will appoint Lael Brainard as his top economic adviser.
  • NBC wants to bring back the NBA.

Pichai Pipatkuldilok / Eyeem | eyes | Getty Images

Here is the key news investors need to start their trading day:

Shares shrugged off last week’s worries and ended on green Monday. Will the Bulls get another Valentine on Tuesday? Much of that will depend on what the latest consumer price index says about the state of the economy. (See below.) That aside, investors will be eyeing another interesting earnings table, with Burger King owner Restaurant Brands and Coca-Cola reporting before the close and Airbnb expected to report results after the close. Follow live market updates.

Sutthichai Supapornpasupad | moment | Getty Images

The latest inflation reading came out a little hotter than expected this morning. The CPI for January rose 0.5% mom and 6.4% yoy. According to the Dow Jones, economists forecast that the CPI rose 0.4% in January, representing 6.2% year-on-year growth. The so-called core CPI, which excludes energy and food, rose 0.4% and 6.2% respectively, also beating expectations. Some market observers were in for a surprise. The hotter numbers could lead investors to believe that the Fed will continue its aggressive campaign against rate hikes.

Federal Reserve Vice Chair Lael Brainard before taking the oath of office during a ceremony in Washington, DC on Monday, May 23, 2022.

Al Drago | Bloomberg | Getty Images

Fed Vice Chair Lael Brainard is set to become President Joe Biden’s top economic adviser while Brian Deese is on his way out. Multiple outlets reported that Brainard will chair the White House National Economic Council. Likewise, longtime Biden confidante Jared Bernstein is expected to soon replace Cecilia Rouse as chair of the Council of Economic Advisors. The move could position Brainard as the next Treasury secretary if Biden wins another term and Janet Yellen departs. Brainard, a moderate-economic Democrat, is a veteran of the Treasury Department during the Obama administration.

Bottles of Coca-Cola products are displayed in a cooler at Colonial Liquors on February 10, 2022 in Corte Madera, California.

Justin Sullivan | Getty Images

Coca-Cola’s earnings didn’t exactly get Wall Street’s hearts racing, but they were well received. Earnings were in line with expectations while sales exceeded due to price increases. The beverage giant, a Dow component, also provided guidance for the year roughly in line with Street Views. Economic questions were in the foreground for the company management. “While 2022 brought many challenges, we are proud of our overall results in a dynamic operating environment,” said CEO James Quincey in an earnings release Tuesday morning.

Continue reading: Burger King owner crowns new CEO

Michael Jordan #23 and the Chicago Bulls celebrate after winning the 1991 NBA Championship against the Los Angeles Lakers

Andrew D Bernstein

It’s Pavlovian. Whenever a longtime NBA fan hears “NBA on NBC,” they probably think of Marv Albert’s emphatic play-by-play, Michael Jordan’s exploits, and John Tesh’s (yes, that John Tesh) epic theme song, aka “Roundball.” “. Rock.” CNBC’s Alex Sherman spread a big dose of nostalgia Monday night when he reported that NBC would once again aggressively court the NBA after 20 years without the NBA. As of today, Disney’s ABC/ESPN and Warner Bros. Discovery’s Turner Sports have broadcast rights for the NBA. But Warner CEO David Zaslav has said he’s skeptical about paying that much for NBA rights, and Comcast (which owns NBC and CNBC) sees an opportunity to bring the league back. Amazon and Apple, of course, are also interested in pro basketball rights, and the NBA could end up with more than two affiliates after the 2024-25 season.

– CNBC’s Alex Herring, Jeff Cox, Amelia Lucas and Alex Sherman contributed to this report.

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