10 things you need to know before the opening bell

Reuters/Hannibal Hanschke

Germany fans react as they watch the match at a public viewing area at Brandenburg Gate.

Here is what you need to know.

The US intends to break the WTO to deal with the 'multi-trillion dollar problem' that is China, a former diplomat says. The Trump administration has gone on the offensive to push China into playing by its trade rules in an effort to "level the playing field," and has now moved to an all-out trade war that could effectively nullify the World Trade Organization, Hosuk Lee-Makiyama, director of the European Centre for International Political Economy and Sweden's former envoy to the WTO, tells Business Insider.

Chinese stocks are in a bear market. China's Shanghai Composite has plunged nearly 23% since hitting a two-year high on January 29.

The Indian rupee tumbles to a record low. The rupee touched a record low of 69.09 per dollar on Thursday amid the recent run up in oil prices.

The world's most successful investment firms pay Rob Arnott for advice - here's where he says you should be putting your money. Rob Arnott, chairman and chief executive of Pimco subadviser Research Affiliates LLC, tells Business Insider why he likes emerging markets.

Intel's temporary CEO is reportedly not pursing the job. Intel interim CEO Bob Swan has told employees he is not trying to keep the job on a full-time basis, the Wall Street Journal reports.

Chipotle is getting ready to close dozens of locations. The burrito chain plans to close 55 to 65 locations as it attempts to turn around business.

Goldman's CEO-in-waiting has a hot new song on Spotify. Business Insider's Dakin Campbell has learned that Goldman Sachs President David Solomon, who is an electronic dance music DJ in his spare time, released his first single, "Don't Stop," in early June. It's a remix of the popular Fleetwood Mac song.

Stock markets around the world are mixed. China's Shanghai Composite (-0.93%) lagged in Asia and Germany's DAX (-0.76%) trails in Europe. The S&P 500 is set to open up 0.4% near 2,710.

Earnings reports keep coming. Walgreens Boot Alliance reports ahead of the opening bell and Nike releases its quarterly results after markets close.

US economic flows. Initial claims and the third estimate of first-quarter GDP will both cross the wires at 8:30 a.m. ET. The US 10-year yield is unchanged at 2.83%.

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