5 things to know before the stock market opens Thursday

Listed here are 5 key issues traders have to know to begin the buying and selling day:

The Dow Jones Industrial Common and S&P 500 each retreated from latest information on Wednesday. The Dow slipped 0.7% throughout common buying and selling, and the S&P gave up 0.19%. It was a reasonably broad, albeit not-all-that drastic, pullback: 9 of the S&P’s 11 sectors closed the day in unfavourable territory. Tech, nonetheless, marked a brilliant spot, and the tech-heavy Nasdaq Composite managed a slender achieve of simply 0.04%. Comply with reside market updates.

Southwest Airways is slicing some service to and from Atlanta subsequent 12 months in an effort to save cash. It is also eliminating as many as 300 pilot and flight attendant positions on the hub, with out shedding any crew members. “Though we strive every thing we are able to earlier than making troublesome choices like this one, we merely can not afford continued losses and should make this transformation to assist restore our profitability,” Southwest mentioned in an inside memo seen by CNBC’s Leslie Josephs. The provider, which has undergone main adjustments and is dealing with an activist push from Elliott, is about to carry an investor day on Thursday.

American Eagle is suing Amazon, alleging the e-commerce large is infringing on its trademark with “inferior high quality knock-offs.” The grievance, filed Wednesday in U.S. District Court docket for the Southern District of New York, claims Amazon improperly shows trademarked manufacturers Aerie and Offline by Aerie to deceive customers into considering the clothes traces can be found on Amazon. Clicking by way of to the model names, nonetheless, pulls up “dupes,” largely offered by third-party distributors, in line with the lawsuit.

New York Metropolis Mayor Eric Adams is dealing with felony prices. The previous police captain has been indicted in federal court docket in Manhattan, accused of wrongdoing associated to contributions to his 2021 mayoral marketing campaign, together with no less than one rely coping with contributions by a international nationwide, a supply acquainted with the matter informed CNBC. The indictment, which stays sealed, comes after the Manhattan U.S. Lawyer’s Workplace started investigating the Mayor’s ties to Turkey. In an announcement Wednesday night time, Adams known as the potential prices “completely false, primarily based on lies.”

– CNBC’s Brian Evans, Jesse Pound, Kif Leswing, Jonathan Vanian, Leslie Josephs, Annie Palmer and Dan Mangan contributed to this report.