^{Five things you need to know before the market opens on Wednesday September 13:}

1. — Stocks higher with consumer data in focus as gas prices stoke inflation, clip spending

Wall Street is bracing for a busy session Thursday with inflation, spending and jobs data at 8:30 am Eastern time, just minutes after a key interest rate decision from the European Central Bank.

2. — European Central Bank rate decision cliffhanger on deck as growth stalls

With Germany flirting with recession, but inflation more than twice its preferred target, the ECB faces a difficult choice at today’s rate-setting meeting in Frankfurt.

3. — Retail sales in focus following biggest inflation leap in 14 months

Gas prices powered a big leap in August inflation, and could clip discretionary spending heading into the final months of the year.

4. — ARM makes trading debut on the Nasdaq following $4.87 billion tech IPO

Overpriced or in demand? Chip designer Arm’s $5 billion IPO will test both investor appetite for AI hype as well as the broader market for new U.S. listings.

5. — Adobe earnings on deck with AI boost, Figma deal fate in focus

1. Adobe will publish its third quarter earnings after the closing bell Thursday, with investors looking for more details on the impact of AI to the cloud software group.