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CNBC Daily Open: Roaring Kitty, Nike flops, inflation on deck

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

What you need to know today

Bracing for inflation data
The S&P 500 eked out a gain as investors gear up for key inflation data, looking for any signs the Federal Reserve may cut interest rates. The Dow Jones Industrial Average added 36 points, while the tech-heavy Nasdaq Composite climbed 0.3%. Micron slipped more than 7% after the memory chip maker issued disappointing fourth-quarter revenue guidance. Nvidia also dropped 1.9%. The yield on the 10-year Treasury inched lower, while U.S. oil prices rose 1% amid continued Israel-Lebanon tensions.

Nike warning
Shares of Nike plunged 12% in extended trading after the sneaker giant slashed its full-year guidance, anticipating a 10% drop in sales for the current quarter. The company cut its guidance as it contends with slower online sales, planned declines in classic footwear franchises, "increased macro uncertainty" in Greater China and "uneven consumer trends" across Nike's markets, finance chief Matthew Friend said on a call with analysts. Nike's fourth-quarter earnings beat expectations but the company missed revenue estimates.

'Stunned' consumers
Walgreens' shares plummeted after the company reported disappointing fiscal third-quarter earnings and lowered its full-year profit forecast, blaming a tough consumer environment and challenging pharmacy conditions. ″We assumed... in the second half that the consumer would get somewhat stronger" but "that is not the case," Walgreens CEO Tim Wentworth told CNBC. "The consumer is absolutely stunned by the