10 things you need to know before the opening bell

Here is what you need to know.

China's inflation picked up.Consumer prices rose at a 1.9% year-over-year clip in August despite pork prices, a staple of the Chinese diet, slowing to up 5.8% YoY. Meanwhile, producer prices grew at a 0.1% YoY rate, making for their first annualized growth since January 2012.

Singapore's economy contracted sharply. GDP contracted 4.1% in seasonally-adjusted annual terms, making for its sharpest contraction since 2012. Economists had expected Singapore's economy to expand at a rate of 0.3%. The Singapore dollar is stronger by 0.5% at 1.3875 per US dollar.

Wholesale prices in India missed expectations. Prices rose at a 3.57% YoY rate, missing economist expectations for a 3.9% gain. The Indian rupee is stronger by 0.3% at 66.7250 per dollar.

Samsung is taking a big hit because of the Galaxy Note 7. Samsung says its recall of the fire-prone Galaxy Note 7 will cost it $3 billion (3.5 trillion won) in operating profit with the majority of that total ($2.2 billion) impacting its bottom line next quarter.

Verizon says Yahoo's hack could have "material" impact. "If they believe that it's not then they'll need to show us that,"Verizon's lawyer Craig Silliman said in a statement to reporters on Monday. Verizon agreed to buy Yahoo's core assets for $4.8 billion in July, but the deal has yet to close.

HP is planning job cuts. In a Securities and Exchange Commission filing, the company said it is planning to implement a restructuring plan through fiscal year 2019 that will include the elimination of between 3,000 and 4,000 employees.

2 of China's state-owned chemical companies are discussing a mega-merger. Reuters reports, three sources familiar with the matter say Sinochem Group and ChemChina are discussing a combination that would create a company with nearly $100 billion in annual revenue.

Bank earnings are coming. JPMorgan Chase, Wells Fargo, and Citigroup all report ahead of the opening bell.

Stock markets around the world are up. Hong Kong's Hang Seng (+0.9%) led in Asia and France's CAC (+1.8%) paces the gains in Europe. S&P 500 futures are up 7.75 points at 2,134.00.

US economic data flows. Retail sales will be released at 8:30 a.m. ET and University of Michigan consumer confidence is due out at 10 a.m. ET before the Baker Hughes rig count is announced at 1 p.m. ET. Fed Chair Janet Yellen will take the mic in Boston at 1:30 p.m. ET. The US 10-year yield is higher by 3 basis points at 1.77%.