Here are the most important news, trends and analysis that investors need to start their trading day:

1. Wall Street set to open higher despite another hot inflation report

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, December 9, 2021.

Brendan McDermid | Reuters

U.S. stock futures rose Friday despite a key report showed the highest consumer inflation reading in nearly 40 years. Wall Street on Thursday broke a three-session winning streak, taking a break from its recent rebound on easing concerns surrounding the omicron Covid variant. The Dow Jones Industrial Average ended less than 1 point lower, after being up more than 100 points at Thursday’s highs. The S&P 500 dropped 0.7%. The Nasdaq was the biggest loser on the day, sliding 1.7%. In Friday’s premarket, Oracle shares soared, gaining more than 11%, the morning after the software giant beat estimates on quarterly earnings and revenue.

2. Consumer prices rise at fastest clip in nearly 40 years

Shoppers at the King of Prussia mall in King of Prussia, Pennsylvania, on Saturday, Dec. 4, 2021.

Hannah Beier | Bloomberg | Getty Images

The government said Friday the November consumer price index rose a greater-than-expected 6.8% from last year, the fastest rate since 1982. The Federal Reserve, which holds its final scheduled policy meeting of the year next week, is already expected to adjust to rising price pressures and announce plans to speed up the tapering its massive Covid-era bond buying. That could lay the groundwork for hikes in near-zero percent interest rates, perhaps as soon as spring 2022.

3. Senate clears way to increase debt ceiling and avoid default risk

The U.S. Capitol in Washington, D.C., U.S., on Wednesday, Oct. 6, 2021.

Stefani Reynolds | Bloomberg | Getty Images

The Senate cleared a key hurdle on the path toward raising the debt ceiling and removing the threat of a default on U.S. debt. Senators voted Thursday to allow Congress to raise the U.S. borrowing limit with a simple majority. The measure, attached to a bill that would prevent automatic Medicare cuts in 2022, now heads to President Joe Biden’s desk for his signature. The Senate and House will have to hold separate votes to increase the debt ceiling. Both chambers are expected to hike the limit early next week before a Dec. 15 deadline.

4. Elon Musk sells another roughly $1 billion worth of Tesla shares

Elon Musk, the CEO of Tesla.

Christophe Gateau/picture alliance via Getty Images

Elon Musk sold more Tesla stock, most recently offloading 934,091 shares, according to the Securities and …….

Source: https://www.cnbc.com/2021/12/10/5-things-to-know-before-the-stock-market-opens-friday-dec-10.html