5 things to know before the stock market opens Wednesday

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Here are the most important news items that investors need to start their trading day.

Wednesday morning, even as shoppers pare back their spending on discretionary items and buy more essentials like groceries. "The consistent inflation, the running out of savings as well as just economic uncertainty in general is having an impact on their choices and they're making tradeoffs," said the company's chief growth officer, Christina Hennington. Digital sales fell as foot traffic at stores increased slightly.

– CNBC's Alex Herring, Melissa Repko, Christina Wilkie, Emma Kinery and Amanda Macias contributed to this report.

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