U.S. stock futures are pointing higher ahead of a closely watched inflation report; JPMorgan Chase ( JPM ) shares are moving higher after fourth-quarter results were better than analysts' estimates; economists anticipate the Consumer Price Index to show annual inflation rose in December; the Securities and Exchange Commission sued Tesla ( TSLA ) CEO Elon Musk over his purchase of Twitter; and Eli Lilly ( LLY ) stock is in focus after plunging yesterday on lower revenue projections. Here's what investors need to know today.

1. US Stock Futures Point Higher as Investors Eye Inflation Report

U.S. stock futures are pointing higher as investors watch for key inflation data today. Nasdaq futures are up 0.3% after the tech-focused index fell for a fifth consecutive session yesterday. Dow Jones Industrial Average and S&P 500 futures also are slightly higher after making positive gains in the prior session. Bitcoin ( BTCUSD ) is up slightly to trade around $97,000, gold futures are 1% higher, and oil futures are edging higher. Yields on the 10-year Treasury note are declining to under 4.8%.

2. JPMorgan Chase Stock Rises on Strong Investment Banking Results

JPMorgan Chase ( JPM ) stock is 1% higher in premarket trading after the world's biggest bank by market capitalization reported stronger-than-expected results as investment banking revenue shot higher . The firm reported profit of $14.0 billion on revenue of $42.77 billion, ahead of the  $11.92 billion profit from $41.49 billion in revenue that analysts polled by Visible Alpha expected . JPMorgan reported that investment banking revenue rose 46% from the same time last year while its net interest income came in at $23.35 billion, above the $22.93 billion consensus expectation.

3. Economists Expect Annual Inflation to Have Risen in December CPI Report

Economists are expecting annual inflation to have risen in December with the 8:30 a.m. ET release of the Consumer Price Index (CPI) inflation figures. The report is expected to show that prices increased at an annual rate of 2.9% last month, up from November's reading of a 2.7% increase, according to economists surveyed by The Wall Street Journal and Dow Jones Newswires . The data comes after yesterday's wholesale pricing report showed that producer-level inflation rose less than expected in the prior month.

4. SEC Sues Musk Over Purchase of Twitter

The Securities and Exchange Commission (SEC ) sued Tesla ( TSLA ) CEO Elon Musk for allegedly delaying a disclosure of a stake in Twitter in early 2022—allowing him to "underpay by at least $150 million for shares he purchased after his beneficial ownership report was due." The regulator said that in March 2022, Musk had a greater than 5% share of Twitter, since renamed X, and didn't disclose it within the 10-day time frame required to put in a 13D filing . Musk's lawyer Alex Spiro said in a statement to Investopedia that the world's richest man "has done nothing wrong."