5 things to know before the stock market opens Thursday

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

Stocks were mixed Wednesday as investors chewed over fresh jobs data and new comments from Federal Reserve Chairman Jerome Powell. The latest ADP jobs report showed that private payrolls grew more than expected in February. Powell, meanwhile, told House lawmakers very much the same things he told senators on Tuesday, that the Fed may well have to raise rates faster to cool down the economy. Powell did say, however, it’s still not decided what the Fed will do at its meeting later this month. Several retail names report quarterly earnings after the bell Thursday, including Gap and Ulta. Follow live markets updates.

Another major crypto player bites the dust, as the fallout spreads from the failure of Sam Bankman-Fried’s FTX. Silvergate Capital, a major lender in the cryptocurrency world that counted FTX as a key customer, said Wednesday it would close up shop and wind down its bank. The company said it would repay all of its deposits, but it didn’t explain how it would resolve claims against the business. The firm’s collapse comes soon after it delayed its annual financial report and warned that it could fail. Silvergate is also facing several regulatory probes and an investigation by the U.S. Justice Department.

Norfolk Southern CEO Alan Shaw is set to testify at 10 a.m. ET before a Senate panel as he and his railroad company continue to clean up an environmental, political and public relations mess. Lawmakers have said…