Here are the most important news items that investors need to start their trading day:
1. Inflation watch
Investors are watching a new inflation report out Wednesday morning. The March consumer price index rose just 0.1%, a notable cooling. The big question is still what the Federal Reserve will do with interest rates at its next meeting in May. "As the economy slows, consumer prices will decelerate further and should bring inflation closer to the Fed's long-run target of 2%," said Jeffrey Roach, chief U.S. economist at LPL Financial. "Markets will likely react favorably to this report as investors gain more confidence that the next Fed meeting may be the last meeting when the Committee raises the fed funds target rate." Follow live market updates.
2. Supercharging EVs
The Biden administration on Wednesday proposed new tailpipe emissions rules that would require as much as two-thirds of all new vehicles sold in the U.S. to be all-electric by 2032. The limits, proposed by the Environmental Protection Agency, would set pollution standards for cars and trucks that would force the auto industry to sell a lot more electric vehicles. The rules level up a previous commitment to EVs by President Joe Biden and would substantially reduce climate-changing greenhouse gases from the transportation sector. The EV industry in the U.S. is still in its early stages, with many legacy automakers transitioning their model lines to all-electric and many EV startups just getting off the ground.
3. Streaming 'Sunday Ticket'
"Sunday Ticket" football is coming to YouTube TV — for subscribers and holdouts, alike. The streamer announced on Tuesday that it will offer the baseline package of out-of-market NFL games to YouTube TV subscribers for $349 per season and to non-subscribers for $449 per season. It marks the first time that the package will be offered as a standalone product after YouTube TV won the rights, replacing DirecTV. The offering may help YouTube TV stand out in an increasingly crowded landscape of streaming services. And the tiered pricing model (plus an additional $100 off for anyone who signs up before June 6) may draw more eyes to YouTube TV's internet-TV bundles, potentially boosting traditional TV network channels, too.
4. Vax not required
Google will no longer require people to be vaccinated against the Covid virus in order to enter the company's buildings, a Google executive told employees Tuesday. "We put in place emergency measures such as our Covid-19 vaccine policy to keep everyone safe, but now the world is in a very different place," Google's VP of global security, Chris Rackow, wrote in a companywide memo, which was viewed by CNBC's Jennifer Elias. Google's vaccine requirement sparked some discontent when it was first introduced in December 2021 and in the following months, as the company threatened loss of pay and ultimately set vaccination as a condition of its return-to-office plans.
5. Lula proposes peace talks
Brazilian President Luiz Inacio Lula da Silva is in China to discuss trade and diplomatic relations, where he plans to propose an initiative to mediate peace talks between Russia and Ukraine. Lula has previously discussed the possibility of forming a group of nations to work toward facilitating an end to the war. He aims to get Chinese President Xi Jinping on board, with Brazil having a seat at the table, and have China convey the message to Russia given the countries' close ties. "I am convinced that both Ukraine and Russia are waiting for someone else to say, 'Let's sit down and talk'," Lula said earlier this month. Follow live updates on the Russia-Ukraine war.
– CNBC's Samantha Subin, Jeff Cox, Emma Newburger, Lillian Rizzo, Jennifer Elias and Audrey Wan contributed to this report.
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