10 things you need to know before the opening bell

Leah Millis/Reuters

Thomas Musolino wears a mask of U.S. President Donald Trump while holding his daughter Gianna Musolino, 10, during a Trump campaign rally at Mohegan Sun Arena in Wilkes-Barre, Pennsylvania, U.S., August 2, 2018. Picture taken August 2, 2018.

Here is what you need to know.

Pepsi CEO Indra Nooyi is stepping down after 12 years. Ramon Laguarta, the company's president, will replace her in October, according to a statement.

There's no end in sight for Trump's trade war with China. In an unusual personal attack, Chinese state media said Trump was engaged in a "street fighter-style deceitful drama of extortion and intimidation."

HSBC's pre-tax profit rose 4.6% for the first half of the year, but investors are worried about rising costs. "Cost growth of 7% reflected increased investments into growth and technology, far outpacing the 2% of revenue growth," stockbroker Hargreaves Lansdown said in an emailed statement.

The US government is altering the economy in a way not seen since the 1960s, and it could create turbulence on Wall Street. Ethan Harris, the head of global economics at Bank of America Merrill Lynch, said "bouts of nervousness" could arise if President Donald Trump continues to encourage low interest rates.

One dirty word keeps popping up as Wall Street weighs the next market crash, and it should strike fear into the hearts of investors everywhere. They're referring to the lackof liquidity - and the myriad problems created when investors are unable to trade without distorting markets.

The pound fell to an 11-month low against the dollar amid growing fears of a no-deal Brexit. UK International Trade Secretary Liam Fox said in an interview that the chance of a no-deal Brexit - where Britain leaves the EU without a deal on future trading arrangements - had risen from 50% to 60%.

The owner of the New York Stock Exchange is teaming up with Microsoft and Starbucks to build an 'ecosystem' for crypto. ICE on Friday ICE unveiled Bakkt, its crypto-asset platform.

Berkshire Hathaway's profit surges. Warren Buffett's conglomerate reported a 67% rise in quarterly operating profit, boosted by a rebound in insurance underwriting and a growing economy.

Earnings season continues. Etsy, Marriott International, and Weight Watchers all report after the closing bell.

US equity futures are slightly higher. The 10-year yield is up by less than one basis point at 2.96%.