Here is what you need to know.
Wall Street needs to brace for an even bigger inflation scare. While concerns about inflation and higher interest rates have recently rattled investors, an even bigger shock could emerge in April and May because of what economists describe as an adverse base effect: Because last year was unusually low, the rate of change could be larger than normal.
The 10-year is at its highest level in 4 years. The benchmark yield is up 10 basis points at 2.92% since Wednesday morning's CPI report. It hadn't been that high since January 2014.
Lloyd Blankfein gives Trump credit for the economy. The Goldman Sachs CEO told CNNMoney: "If the president didn't win and Hillary Clinton won ... I bet you the economy is higher today than it otherwise would be."
Bitcoin nearly hits $10,000. The cryptocurrency hit an overnight high of $9,980 a coin. It's now up 1.54% at $9,621.
The rand surges after Zuma resigns. The South African rand touched a two-year high of 11.6014 per dollar in overnight action following the news that the country's embattled president, Jacob Zuma, had resigned.
Warren Buffett's Berkshire Hathaway loads up on more Apple. Berkshire upped its holdings of Apple by 23% to 31.2 million shares, a 13F released Wednesday showed. Its stake is now worth $165.3 million.
Cisco's revenue is finally growing again. The computer-networking company said revenue rose 3% year-over-year to $11.9 billion in its fiscal second quarter, reversing a two-year decline.
Chinese markets are closed for the Chinese New Year. They will reopen next Thursday.
Earnings reports keep coming. Waste Management reports ahead of the opening bell, while CBS and Shake Shack release their quarterly results after markets close.
US economic data is heavy. Empire Manufacturing, initial claims, PPI, and the Philly Fed will all be released at 8:30 a.m. ET before industrial production and capacity utilization cross the wires at 9:15 a.m. ET. The NAHB Housing Market Index is due out at 10 a.m. ET.