10 things you need to know before the opening bell

Here is what you need to know.

The first half is coming to an end. Heading into the final day of the first half, the S&P 500 holds a gain of 7.17% year-to-date, trailing the Nasdaq's 13.17% advance.

China's economy is humming along. China's manufacturing PMI climbed to 51.7 in June while its non-manufacturing PMI jumped to 54.9, according to the National Bureau of Statistics.

Inflationary pressures are building in Japan. Data released by the Japanese government on Friday showed consumer price inflation, excluding fresh food, rose by 0.4% year-over-year in May, hitting its highest level since March 2015.

The UK has the worst performing major economy on earth. The economy grew at a 0.2% clip in the first quarter, according to the Office for National Statistics' third estimate.

Iron ore is suddenly in a bull market. The commodity rallied 3.8% on Friday to $64.71 a tonne, extending its run off the June 13 low to 21.3%.

Berkshire Hathaway plans to trade in its Bank of America preferred stock for common shares. Warren Buffett's company will swap its preferred stock for 700 million shares, Reuters reports.

Blue Apron goes nowhere on its first day of trading. Shares debuted $10, hit a high of $11, and finished the day at $10.01.

Nike beats. The sneaker giant earned $.060 a share on revenue of $8.7 billion as sales outside the US provided a lift.

Tintri is tapering its IPO. After pulling its initial public offering on Thursday, the storage startup is lowering the amount of shares it plans to sell to 8.5 million and the price range to between $7 and $8 a share. Previously, Tintri planned to sell 8.7 million shares for between $10.50 and $12.50 apiece.

US economic data is heavy. Personal income and spending and core PCE will be released at 8:30 a.m. ET before Chicago PMI and University of Michigan consumer confidence are due out at 9:45 a.m. ET and 10 a.m. ET, respectively.