5 things to know before the stock market opens Thursday

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

All three major stock averages closed lower on Wednesday despite news of a U.S.-China trade agreement and better-than-expected inflation data. The S&P 500

sank 0.27%, snapping its three-day win streak, while the Nasdaq Composite

lost 0.5% and the Dow Jones Industrial Average

dropped just 1.1 points. The consumer price index increased 0.1% in May — less than the Dow Jones forecast of 0.2% — putting the annual inflation rate at 2.4%. Investors will get another read on inflation on Thursday with the producer price index, due at 8:30 a.m. ET. Crude oil futures, meanwhile, climbed more than 4% on Wednesday amid increasing tensions between the U.S. and Iran. Follow live market updates.