Here Comes Chinese GDP...

China will announce Q4 GDP data at 9 p.m. ET.

Economists polled by Bloomberg are looking for Q4 GDP to rise 7.6% year-over-year (YoY). This is down from 7.8% the previous quarter.

Meanwhile, GDP is expected to rise 2% quarter-over-quarter.

"We anticipate the upcoming data release to show China's economy losing steam somewhat in December," said UBS' Harrison Hu in a note released head of the data. "Though sequential growth momentum likely held steady or declined slightly across most domestic demand sectors, a high base effect would have weighed upon headline activity numbers."

But China is also releasing a string of other data tonight that will give us more of an insight into the health of the economy.

Industrial production is expected to rise 9.8% YoY and year-to-date (Ytd) industrial production is expected to rise 9.7%.

Retail sales are expected to rise 13.6% YoY and Ytd retail sales are expected to rise 13.1%.

Finally, year-to-date fixed asset investment is expected to rise 19.8% on the year.