10 things you need to know before the opening bell

Here is what you need to know.

1. Alibaba will reportedly kick off its Hong Kong IPO tomorrow, and could raise up to $15 billion. If Alibaba does raise as much as $15 billion, it will be the 10th largest IPO in history.

2. Blackstone CEO Schwarzman reportedly called recession fears "overblown" but the firm's chief strategist warns one may hit next year. "The current government has been good for the business community, and for economic confidence," CEO Stephen Schwarzman told Financial News.

3. Trump claims Ivanka has created 14 million jobs since he became president - more than double the six million added by the US economy in that time. Trump made the claim in a speech in New York and seemingly referring to his daughter's work on a White House board opening up training positions.

4. A Bezos-backed trucking startup now valued at $2.75 billion just raised $400 million from Al Gore's fund to dominate the digital-freight market. Convoy raised $400 million for its freight brokerage and software solution.

5. US manufacturing group hacked by China as trade talks intensified, according to Reuters. As trade talks between Washington and Beijing intensified earlier this year, suspected Chinese hackers broke into an industry group for US manufacturers that has helped shape President Donald Trump's trade policies, according to two people familiar with the matter.

6. Mark Zuckerberg says TikTok is a threat to democracy, but didn't say he spent 6 months trying to buy its predecessor. BuzzFeed reported Facebook wasn't able to close the deal, while Bloomberg reported it walked away over concerns about Musical.ly's users and ownership.

7. Chinese gaming giant Tencent books 13% third quarter profit drop and misses estimates. It said on Wednesday it was hit by falling media advertising and PC games revenue.

8. Stocks are dropping on Wednesday. US futures underlying the S&P 500 (-0.4%) and the Nasdaq (-0.4%) are sliding. European stocks are falling, with DAX (-0.8%) and Euro Stoxx 50 (-0.6%) down. Asian stocks closed poorly, with the Nikkei (-0.9%), Shanghai Composite (-0.3%) and Hang Seng (-1.8%) down.

9. There are some earnings to look out for. Cisco is the highlight.

10. Today is a big data day. Market watchers will be keeping an eye on the Consumer Price Index and Jerome Powell's remarks.