Fitbit makes its trading debut on the the New York Stock Exchange Thursday morning.
The wearable fitness tracker is expected to price its shares between $17-$19 a share, amounting to a market cap of roughly $4.5 billion.
On the earnings front, we note quarterly earnings reports from drugstore chain Rite Aid (RAD), supermarket chain Kroger (KR), and provider of open source software solutions Red Hat (RHT).
Rite Aid and Kroger are scheduled to release their quarterly financial results before the market opens, while Red Hat posts its earnings after the closing bell.
Rite Aid, the third-largest drugstore chain in the U.S. by revenue is expected to earn $.03 cents a share on $6.65 billion in revenue for its fiscal first quarter.
Earlier this month on CNBC's "Mad Money" show, TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio, said the drugstore chain is in the middle of a multi-year turnaround, and is becoming increasingly profitable.
Rite Aid recently announced it acquired pharmacy benefit manager EnvisionRX for $2 billion.
Camp Hill, Penn.-based Rite Aid is a retail drugstore chain that sells prescription drugs and a range of other merchandise throughout the U.S. Along with its rivals Walgreens (WAG) and CVS Health (CVS), the company has made health and wellness a priority.
On the economic calendar, Wall Street awaits the consumer price index, weekly jobless claims, current account figures and the Philadelphia Fed business outlook survey.