10 things you need to know before the opening bell

Here is what you need to know.

Stocks are trading in a way not seen since the peak of the tech bubble. Stocks are trading more independently of macro factors than at any point since 2001, according to Morgan Stanley.

China's inflation ticks higher. Consumer prices in China rose 1.8% year-over-year in December, making for a small uptick from November's +1.7% print.

The 10-year hits its highest level since March. The benchmark yield is up 3 basis points at 2.58%.

Oil hits a 3-year high. West Texas Intermediate crude oil hit $63.57 a barrel on Wednesday, its highest since December 2014.

Intel CEO's stock sale could trigger lawsuits and a SEC inquiry. Institutional investors are talking to lawyers about potentially filing suit against Intel over CEO Brian Krzanich's $24 million stock sale before the company disclosed its chip flaw.

Kodak jumps on the blockchain bandwagon. Kodak shares more than doubled on Tuesday following news the photo company will launch a new blockchain-based rights-management service designed to help photographers get paid for the use of their images.

Domino's CEO is leaving the company. J. Patrick Doyle engineered an impressive turnaround and fixed the pizza chain's reputation during his eight years as CEO.

Stock markets around the world are mixed. Hong Kong's Hang Seng (+0.20%) led in Asia and Germany's DAX (-0.8%) lags in Europe. The S&P 500 is set to open down 0.37% near 2,741.

Earnings reports trickle out. Lennar reports ahead of the opening bell and KB Home releases its quarterly results after markets close.

US economic data is light. Import and export prices will be released at 8:30 a.m. ET before wholesale inventories are announced at 10 a.m. ET.