10 things you need to know before the opening bell

Here is what you need to know.

1. The US is looking like it may back down on China tariffs - just as Trump needs a win on trade. The Financial Times, citing sources familiar, said the US is considering a rollback on tariffs.

2. 'We created a monster,' SoftBank CEO Masayoshi Son reportedly said of WeWork. SoftBank is expected on Wednesday to impose stricter governance standards for dual-class structures after the WeWork troubles, the Financial Times said.

3. Boris Johnson's Brexit trade deal with Trump would force the UK to accept food contaminated with maggots and rat hair, warns Jeremy Corbyn. Labour leader Jeremy Corbyn will warn Boris Johnson that his coveted trade deal with the United States would lower food standards in the UK.

4. Japan's Rakuten said on Tuesday it expects to take a 103 billion yen ($947 million) loss in the latest quarter on its investment in US ride-hailing firm Lyft. Lyft shares have "fallen significantly" over the July-September period, Rakuten said in a statement to the Tokyo Stock Exchange.

5. The McDonald's CEO fired over his relationship with a subordinate is keeping his post at Oxford University's Centre for Corporate Reputation. Steve Easterbrook's firing saw McDonald's shares price take a dive, and also raised questions about its internal policies.

6. WeWork is reportedly cutting up to 25% of the staff at Meetup, the startup it bought for $200 million two years ago. The job cuts focused mostly on its engineering department, according to the report.

7. SoftBank says WeWork Japan can become profitable 'in near future'. WeWork's Japan unit could soon be making money, the Japanese partner of the US office-space sharing startup said on Tuesday, amid investor skepticism over the company's prospects.

8. Stocks are pushing upwards Tuesday. US futures underlying the S&P 500 (+0.2%) and the Nasdaq (+0.3%) are rising. European stocks are rising with the DAX (+0.3%) up as is the Euro Stoxx 50 (+0.1%). Asian stocks closed on the up, with the Nikkei (+1.76%) rallying as did the Shanghai Composite (+0.5%) and the Hang Seng (+0.5%).

9. There are some fascinating earnings out today. Paramount, Papa John's, and Peloton are reporting.

10. There is some important data out later. ISM non-manufacturing PMI is the standout.