5 things to know before the stock market opens on Friday

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Here are five important things investors need to know to start their trading day.

President Donald Trump announced late last night that he is ending all U.S. trade negotiations with Canada over an ad aired by the Ontario government featuring the voice of former President Ronald Reagan.

In this ad, President Reagan can be heard speaking negatively about tariffs and their impact on the American people. The Ronald Reagan Presidential Foundation and Institute argued that the ad misrepresented President Reagan’s 1987 remarks and was edited without authorization.

President Trump accused Canada of trying to use the ad to influence a pending Supreme Court case that will decide the fate of many of the tariffs. Ontario Premier Doug Ford announced earlier this month that the province is spending $75 million on advertising in the United States.

We’ve finally come this far. After a nine-day delay due to the ongoing government shutdown, the Bureau of Labor Statistics will release its Consumer Price Index report for September this morning. The index tracks a broad basket of goods and services and is watched by both Wall Street and the Federal Reserve as a measure of inflation.

Here’s what you need to know:

Economists compiled by Dow Jones expect the index to rise 0.4% from August and 3.1% from a year ago. The so-called core CPI, which excludes volatile food and energy prices, is expected to rise 0.3% on a monthly basis and 3.1% on a 12-month basis. The report was originally scheduled to be released on October 15, but was postponed due to the ongoing federal government shutdown, currently the second longest government shutdown in history. The release of economic indicators, including the all-important non-farm employment report, has not been released on schedule since the government shutdown began. This creates more uncertainty for investors. Today’s CPI reading is the last major economic announcement expected before the Fed gathers for its policy meeting next week. Stock price futures may fluctuate significantly following the announcement. Follow live market updates here.

target is cutting 1,800 corporate jobs, the first large-scale layoffs in 10 years.

The company plans to lay off about 1,000 employees and cut 800 open positions, a company spokesperson told CNBC’s Melissa Repko. Together, they represent about 8% of the retailer’s workforce.

Target is struggling to return to growth after years of sluggish sales. The cuts also come as incoming CEO Michael Fidelke prepares to take over from Brian Cornell next year.

ford motor The third quarter beat Wall Street expectations in both areas. Investors liked the results, and the stock rose more than 4% in after-hours trading.

However, the company lowered its full-year outlook due to the impact of a fire at one of its aluminum suppliers in New York. Ford said the fire disrupted production of heavy-duty trucks and SUVs and expected costs to be between $1.5 billion and $2 billion.

Elsewhere in the auto industry, electric vehicle manufacturers Rivian The company announced to its employees that it would lay off approximately 4.5% of its workforce. Officials confirmed to CNBC’s Michael Weiland that more than 600 jobs will be cut.

Yesterday, Miami Heat’s Terry Rozier and Portland Trail Blazers head coach Chauncey Billups were arrested in connection with the bomb gambling investigation. The NBA announced that Rozier and Billups have been placed on immediate leave and that the league is cooperating with authorities.

A criminal complaint against former NBA player Damon Jones (also arrested Thursday) suggests he leaked information about LeBron James and Anthony Davis to bettors while he was with the Los Angeles Lakers. Sources told CNBC that James was unaware that his information was being shared for gambling purposes.

Here are some articles I recommend you read if you have some free time this weekend.

—CNBC’s Jeff Cox, Michael Weiland, Alex Sherman, Dan Mangan, Kevin Browninger and Melissa Repko contributed to this report. Josephine Rozzelle edited this version.