5 things you should know before the stock market opens on Friday, October 11

Here are five important things investors need to know to start the trading day:

Stocks were little changed on Thursday as investors awaited another set of inflation data on Friday. S&P 500 futures fell 0.2%, The Nasdaq-100 futures fell 0.05%, too The Dow Jones Industrial Average futures shed 0.14%. Wall Street also digested September’s consumer price index, which rose 0.2% month-on-month, raising the annual inflation rate to 2.4% from a year ago. That came ahead of the 0.1% monthly gain and the 2.3% year-over-year average expected by analysts polled by Dow Jones. Unemployed claims posted an unexpected jump following Hurricane Helene and the Boeing strike. Follow live market updates.

TD Bank pleaded guilty Thursday to money laundering charges and agreed to pay $3 billion in fines to the Justice Department and federal financial regulators. Many of the charges against TD Bank include money laundering and failure to maintain an anti-money laundering program. TD Bank is currently the 10th largest U.S. bank by assets and, as part of the deal, will have limits on its growth set by the Office of Financial Regulation. Attorney General Merrick Garland said that over a six-year period, TD Bank admittedly failed to monitor $18.3 trillion in customer transactions, allowing three money-laundering networks to transfer more than $670 million through bank accounts.

JPMorgan Chase kicked off the bank’s earnings season and beat Wall Street analyst expectations. The bank reported earnings of $4.37 a share, compared to the $4.01 a share expected by an LSEG survey of analysts. Revenue also came in higher than forecast, as the bank reported $43.32 billion compared to $41.63 billion. JPMorgan said profit fell 2% from a year earlier to $12.9 billion, while revenue rose 6% to $43.32 billion. America’s largest bank has seen strong growth in a rising rate environment, posting net income figures since the Fed began hiking rates in 2022.

Investor reaction is mixed. After years of Tesla CEO Elon Musk’s unfulfilled promises about fully autonomous vehicles, the tech billionaire unveiled his first new products since 2019’s Cybertruck. The electric car maker has unveiled the Cybercab concept car, a low-slung, silver two-seater without a wheel or pedals, which the company hopes to put into production before 2027. Tesla shares fell more than 5% in early trading on Friday after investors were frustrated. event. Analysts at Barclays said the launch failed to highlight any of Tesla’s immediate prospects, instead putting the spotlight on Musk’s independent future.

AMD unveiled a new intelligence chip on Thursday that aims to compete with it Nvidia’s data center graphics processors, known as GPUs. The chip, called the Instinct MI325X, will begin production before the end of 2024. As of late, Nvidia dominates the data center GPU market and enjoys around 75% gross. If AMD’s AI chips are seen as an imminent replacement, it could put price pressure on Nvidia. Most industry estimates say Nvidia has more than 90% of the market for data center AI chips, which AMD expects will be worth $500 billion by 2028. If all goes well, AMD’s Instinct MI325X will be compared to Nvidia’s upcoming Blackwell chips. Nvidia said it will begin shipping in large quantities early next year.

– CNBC’s Dan Mangan, Hugh Son, Lora Kolodny, Ryan Browne and Kif Leswing contributed to this report.