5 things you need to know before the fair opens on Thursday 13 January

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

US stock futures rose slightly on Thursday after another hot but unsurprising inflation report. The Nasdaq moved higher on Wednesday, led by technology stocks recovering for a third straight session. The Dow Jones Industrial Average and the S&P 500 made gains for the second day in a row, with each Wednesday ending less than 1.5% off last week’s record. The Nasdaq has more work to do to dig out of the recent slide, finishing 5.4% off its last record closed in November on Wednesday.

• Looking ahead, global alternative asset manager TPG will debut on the Nasdaq Thursday morning after Prices its first public offering at $29.50 a share, the middle of the expected range.
• Moderna expects to report data from its Covid vaccine trials in children ages 2 to 5 by March. If the study is supportive, the company said it would seek emergency approval to vaccinate that age group. Moderna stocks were modestly lower in the premarket.

Delta Air Lines shares rose more than 2% in the premarket after the airline posted its highest quarterly revenue since the end of 2019 on Thursday, a better-than-expected $9.47 billion in the fourth quarter. Earnings of 22 cents a share also exceeded estimates, thanks in part to strong vacation bookings and more business travel. Delta said it expects a loss in the first quarter, blaming the Covid omicron variant for higher costs and weaker-than-expected bookings. However, the airline continues to see rising demand for travel and profits this year.

The Commerce Department said Thursday that the The December producer price index rose 9.7% year over year, slightly lower than estimates but still the largest increase ever. The PPI comes after the December consumer price index rose 7% at the fastest pace since June 1982, but in line with estimates. The Labor Department said on Thursday that weekly initial unemployment claims rose to 230,000, more than expected and up 23,000 from the previous week’s undisclosed level.

The Senate Banking Committee holds a confirmation hearing at 10 a.m. ET on Thursday to consider the nomination of Federal Reserve Governor Lael Brainard to become the next vice chairman of the Fed. In prepared remarks, Brainard said controlling decades-long inflation is the “most important task” for central bankers. Brainard’s prepared comments stayed close to the monetary policy script that Fed Chair Jerome Powell used Tuesday during his confirmation hearing for a second term. He said the Fed will intervene as necessary with higher interest rates and other measures to ensure inflation returns from its current highs to the central bank’s target of 2%.

President Joe Biden plans to comment Thursday on his government’s “wave response” to the rise in Covid cases due to the highly contagious omicron variant. Starting next week, Biden will focus on the federal government’s efforts to deploy military medical personnel to help hospitals affected by the twin problems of a crush of Covid patients and staff shortages due to sick health workers. The president will also announce that six additional military medical teams will be deployed to Michigan, New Jersey, New Mexico, New York, Ohio and Rhode Island.

— Reuters and The Associated Press contributed to this report. Follow all market actions like a pro CNBC Pro. Get the latest news about the pandemic with CNBC’s Coronavirus Coverage.