5 Things to Know Before the Stock Market Opens

U.S. stock futures are pointing higher as investors watch for inflation data; China reportedly considers selling TikTok to Elon Musk; Moderna ( MRNA ) shares are in focus after tanking yesterday as it cut its revenue forecast; economists expect the Producer Price Index (PPI) to show wholesale inflation remained steady in December; and KB Home ( KBH ) stock is jumping in premarket trading after it reported stronger-than-expected earnings. Here's what investors need to know today.

1. US Stock Futures Point Higher Ahead of Inflation Data

U.S. stock futures are pointing slightly higher as investors await inflation data set for release this morning. Nasdaq futures are 0.3% higher after the index closed lower yesterday . Dow Jones Industrial Average and S&P 500 futures are also edging higher. Bitcoin ( BTCUSD ) is up almost 2% to move above $96,000. Yields on the 10-year Treasury note are little changed at around 4.8%. Oil futures are lower while gold futures are slightly higher.

2. China Reportedly Mulls Selling TikTok to Elon Musk

Chinese officials are considering selling TikTok's U.S. operations to Elon Musk if the social media firm ultimately gets banned, according to reports. China is considering a scenario in which Musk's X platform would control TikTok in the U.S., adding 170 million users to the platform, Bloomberg reported. The Wall Street Journal reported that Musk, a close ally of President-elect Donald Trump, is considered a "trusted non-Chinese party." A TikTok spokesperson said in a statement provided to Investopedia that the company "cannot be expected to comment on pure fiction."

3. Moderna Stock in Focus After Tanking on Revenue Outlook Cut

Moderna ( MRNA ) stock is down a further 0.6% in premarket trading after shares of the drugmaker plunged 17% Monday on a lower revenue outlook. Moderna slashed its 2025 revenue forecast by $1 billion as it tries to navigate increasing drug development costs against a backdrop of declining demand for COVID-19 treatments. Moderna shares have lost around two-thirds of their value over the past year and have fallen more than 90% from their pandemic-era record high of nearly $500 in August 2021.

4. Investors Watching Today's Wholesale Inflation Data Release

Market participants will be closely watching today's 8:30 a.m. ET release of the December Producer Price Index (PPI) data. Economists surveyed by The Wall Street Journal and Dow Jones Newswires project that the monthly wholesale inflation rate would stay at November's level of 0.4%. Economists are closely watching inflation data after recent reports have shown little easing of price pressures , raising worries that the Federal Reserve may keep interest rates at elevated levels. The PPI report comes ahead of tomorrow's Consumer Price Index (CPI) figures.