10 things you need to know before the opening bell

This is what traders are talking about.

Trump says the Fed is the 'biggest threat' to the economy. "My biggest threat is the Fed, because the Fed is raising rates too fast," Trump told Fox Business host Trish Reagan. "And it's independent, so I don't speak to them, but I'm not happy with what he's doing because it's going too fast. Because you looked at the last inflation numbers - they are very low."

S&P sounds the alarm on Chinese local governments' off-balance-sheet debt. The credit-rating agency says the off balance of local governments in China has ballooned to as much as 40 trillion yuan ($6 trillion) in recent years and that it represents a "debt iceberg with titanic credit risks."

Theresa May heads to Brussels with a no-deal Brexit looking more likely than ever before. "Unfortunately the report on the state of the negotiations that I got from Michel Barnier today, as well as yesterday's debate in the House of Commons, gives me no grounds for optimism before tomorrow's European Council on Brexit," European Council president Donald Tusk said on Tuesday.

Canada has officially legalized marijuana for all adults. Canada, on Wednesday, became the second country in the world - after Uruguay - to legalize the drug.

Investors are doubling down on a trade that blew up in their faces earlier this year. Traders are refusing to throw in the towel on the short volatility trade, and Morgan Stanley explains why they should be going long volatility instead.

Netflix soars after crushing subscriber numbers. Shares gained as much as 15% in after-hours trading Thursday after the streaming giant said it added 6.96 million new subscribers in the third quarter, easily beating the the roughly 5 million that analysts were expecting.

IBM misses on revenue. IBM's third-quarter revenue fell 2% versus a year ago to $18.8 billion, missing the $19.1 billion that analysts surveyed by Bloomberg were expecting.

Stock markets around the world are mostly higher. Australia's ASX (+1.45%) led the overnight gains and Britain's FTSE (+0.22%) is out front in Europe. The S&P 500 is set to open little changed near 2,807.

Earnings season rolls on. Abbott Industries and United Continental report ahead of the opening bell while Alcoa, United Rentals, and Steel Dynamics release their quarterly results after markets close.

US economic data keeps coming. Housing starts and building permits will both be released at 8:30 a.m. ET and September's FOMC minutes will cross the wires at 2 p.m. ET. The US 10-year yield is up 1 basis point at 3.17%.