10 things you need to know before the opening bell

Here is what you need to know.

1. The Fed raises rates, signals fewer hikes in 2019. The Federal Reserve on Wednesday raised its benchmark interest rate 25 basis points to a range between 2.25% and 2.50%, and said it sees two rate hikes next year as opposed to its September estimate of three.
2. Global markets are rebounding. Japan's Nikkei (-2.8%) was hit hard in Asia and Britain's FTSE (-0.36%) was well off its worst levels after seeing an early loss of 1.8%. The S&P 500 is set to open little changed near 2,507.
3. The yield curve is the flattest its been since 2007. The spread between the 2-year and 10-year note yields is down to 11 basis points, the flattest its been since the second quarter of 2007.
4. China says more trade talks are coming. "The two sides will arrange consultations including meetings and calls at any time as needed to promote the implementation of the consensus of the heads of state," Commerce Ministry spokesman Gao Feng told reporters in Beijing, according to Reuters.
5. New Zealand grows at its slowest pace in almost five years. New Zealand's economy grew 0.3% in seasonally adjusted chain volume terms, missing the 0.6% growth that was expected and making for the slowest growth since late 2013.
6. A stock picker in Wall Street's top 1% this year reveals his strategy for 2019. Kyle Weaver, who oversees $5 billion as lead manager of the Fidelity Advisor Growth Opportunities Fund, told Business Insider about the four main themes he is looking to invest in for 2019.
7. Facebook plunges as the bad news piles up. Shares fell more than 7% Wednesday, wiping out $30 billion of market value, after the social-media giant was sued by Washington, DC, over its relationship with Cambridge Analytica and after admitting in a blog post that Netflix and Spotify had access to user messages.
8. AB InBev is teaming up with Tilray to explore marijuana-infused drinks. The world's largest brewer and the Canadian cannabis producer Tilray have agreed to form a partnership, investing up to $50 million each, to research non-alcoholic beverages containing THC and CBD.
9. Earnings reporting picks up a bit. BlackBerry and Walgreens Boot Alliance report ahead of the opening bell while Nike releases its quarterly results after markets close.
10. US economic data keeps coming. The Philly Fed and initial claims will both be released at 8:30 a.m. ET.

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