Wall Street is expected to open higher after the release of the consumer price index (CPI) report for November, which met expectations. The CPI increased by 0.3% month-over-month and 2.7% year-over-year, while the core CPI, excluding food and energy, rose by 3.3% over the past 12 months. Traders are hopeful that these figures could lead to another Federal Reserve rate cut next week.

General Motors has made a significant decision to discontinue its Cruise driverless ride-hailing service and integrate it into its tech division, focusing on autonomous driving for personal vehicles. This move comes as competition in the robotaxi market, particularly from Waymo, is growing.

Macy's shares declined after the company adjusted its full-year earnings outlook, now projecting earnings of $2.25 to $2.50 per share, down from the previous range of $2.34 to $2.69. The retailer also completed an investigation into a former employee who concealed expenses and noted that its higher-end brands, Bloomingdale’s and Bluemercury, are performing better than the flagship Macy's brand.