5 things to know before the stock market opens Thursday, May 19

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

1. Dow set to open lower after its worst day since 2020 on inflation worries

A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., May 18, 2022.

Andrew Kelly | Reuters

2. Kohl’s misses on earnings and cuts outlook, expects buyout offers soon

The Kohl’s logo is displayed on the exterior of a Kohl’s store on January 24, 2022 in San Rafael, California.

Justin Sullivan | Getty Images

3. Cisco shares sink as tech giant forecasts a surprising revenue decline

A man passes under a Cisco logo at the Mobile World Congress in Barcelona, Spain February 25, 2019.

Sergio Perez | Reuters

4. Fed gets latest look at labor market, with jobless claims out before the bell

  • The Federal Reserve before-the-bell got a look at the second pillar of its dual mandate of fostering price stability and maximum employment. Weekly initial jobless claims rose to 218,000, a bigger-than-expected increase. After hitting more than 50-year lows earlier this spring, first-time filings for unemployment benefits have gradually been creeping higher.
  • The Philadelphia Fed’s manufacturing index for May showed much lower-than-expected growth, hitting its lowest level in two years.

5. Prices at the gas pump hit new highs, every state above $4 per gallon

A woman rides an electric bike past a gas station as current gasoline prices continues to climb close to record setting territory in Encinitas, California, May 9, 2022.

Mike Blake | Reuters

The markets have been sinking on concerns that the Fed-mandated economic slowdown via interest rates hikes and balance sheet runoffs won’t be able to get inflation under control. One of the areas inflation is most evident is at the gas pump.

— CNBC’s Hannah Miao, Sarah Min, Jesse Pound, Lauren Thomas, Jordan Novet, Jeff Marks, Jeff Cox and Patti Domm contributed to this report.

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