10 things you need to know before the opening bell

Here is what you need to know.

Tax reform will make for a "noisy" earnings season. The two areas to watch are required corporate write-downs of deferred tax items and the hundreds of millions of dollars S&P 500 companies will owe in taxes on overseas cash and earnings, Goldman Sachs says.

A top Fed official says a policy shift once seen as radical is 'not nearly as scary as you might think.' John Williams, president of the Federal Reserve Bank of San Francisco, thinks the central bank needs new tools to fight chronically low inflation and made the case for shifting to a price-level target.

US consumer debt surges by the most in over 2 years. US consumer credit jumped by 8.8% in November, the most in two years, to $3.83 trillion, according to the Federal Reserve.

The Japanese yen spiked suddenly. The yen surged 0.5% to near 112.50 per dollar after the Bank of Japan tweaked its quantitative and qualitative easing (QQE) program.

Ethereum is back near record highs. The digital currency trades up more than 7% and is back above $1,200 an ether.

Warren Buffett's Berkshire Hathaway could get a tax windfall. President Donald Trump's tax reform could increase Berkshire's book value by about $37 billion, according to Barclays analyst Jay Gelb.

GoPro's plunging stock made short sellers $45 million in a single day. GoPro shares plunged as much as 33% on Monday after the company announced it was cutting more than 250 jobs and exiting the drone business, netting short sellers a profit of $45 million.

Aston Martin is reportedly lining up an IPO. The luxury auto maker held preliminary talks with advisers for a 5 billion British pound ($6.8 billion) initial public offering, Bloomberg reports.

Stock markets around the world are higher. Japan's Nikkei (+0.57%) led in Asia and France's CAC (+0.51%) is out front in Europe. The S&P 500 is set to open little changed near 2,747.

US economic data is light. JOLTS Job Openings will be released at 10 a.m. ET. The US 10-year yield is up 2 basis points at 2.50%.