5 things to know before the stock market opens Thursday, March 10

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

U.S. stock futures fell sharply Thursday. U.S. oil prices rebounded 5% in morning trading as the latest round of Russia-Ukraine talks failed with no progress on a cease-fire and no progress on safe passages for evacuating civilians. With oil and in turn gasoline prices higher, investors are digesting another hot inflation report. Amazon was a standout in a down premarket, jumping 5% following its after-the-bell announcement of a 20-for-1 stock split and a $10 billion buyback. Bitcoin dropped below $40,000 on Thursday as some of the initial excitement around President Joe Biden‘s executive order on digital assets faded.

Wall Street, set to open lower Thursday, broke a four-session losing streak Wednesday, with the S&P 500 jumping 2.5% for its best day since June 2020 but it remained in a correction. The Nasdaq surged nearly 3.6%, and the Dow Jones Industrial Average popped 2%. Those gains pulled the Dow out of a correction and the Nasdaq out of a bear market. Oil prices took a sharp leg lower Wednesday afternoon, giving stocks an extra boost. West Texas Intermediate crude, the American benchmark, tumbled more than 12%.

The 10-year Treasury yield on Thursday rose to around 1.98% after February’s consumer price index rose 7.9% over the past 12 months, a fresh 40-year high and slightly higher than estimates. Excluding food and energy, both of which moved sharply higher during the month, core inflation still rose 6.4%, in line with expectations but the highest since August 1982.

• The latest reads on wholesale inflation and retail sales are out Tuesday and Wednesday — the two days when the Federal Reserve holds its March policy meeting. Central bankers are widely expected to start hiking Covid-era near-zero interest rates next week, the first in a series of rate increases seen this year to fight inflation.

Thursday’s failure of cease-fire talks came one day after Russian forces bombed a maternity hospital in the Ukrainian city of Mariupol, killing three people, including one child. Russian Foreign Minister Sergey Lavrov on Thursday said without evidence that the hospital had already been captured by Ukrainian “ultra radicals.” Ukraine Foreign Minister Dmytro Kuleba said Russian officials “live in their own reality.”

• U.S. Vice President Kamala Harris will meet with Polish leaders in Warsaw on Thursday as disagreements simmer…