10 Things You Need To Know Before The Opening Bell

Good morning! Here's what you need to know.

GoPro IPO Coming. The camera maker filed an S-1 Monday afternoon. They generated just under $1 billion in revenue last year and they're already profitable.

AstraZeneca Deal On Life Support. Some shareholders of the British drug giant are trying to revive talks with Pfizer after the American firm said it was done making offers.

Home Depot Earnings. The home supplies giant reported Q1 revenue that missed forecasts, but said sales in non weather-related items were steady, and did not change its full-year outlook. Still, shares were down more than 1% premarket.

Credit Suisse Guilty. The Justice Department wrung out a guilty plea in a criminal tax fraud case from the Swiss bank, which agreed to pay a $2.6 billion fine.

Microsoft Presents. CEO Satya Nadella is expected to present an update on the Surface tablet at 11 a.m. eastern.

UK Inflation Higher. British consumer price data topped forecasts but there was little market reaction. The FT quotes PIMCO's Mike Amey: "The basic theme of little inflation risk remains intact. For the MPC, the labour market is the key to the path of monetary policy. The MPC will start to raise interest rates when the economy can withstand it – that means average earnings need to rise from their current 1.7%."

Australian Dollar Dips. Australia’s dollar dropped to a two-week low against the greenback as the nation’s central bank signaled it was likely to maintain record-low interest rates, Businessweek said. “The picture is turning quite negative for the Australian dollar,” said Ian Stannard, head of European foreign-exchange strategy at Morgan Stanley in London. “The RBA assessment is fairly downbeat. The Aussie’s recovery since the beginning of the year could well be tested.”

Futures Lower. U.S. markets are set to open down. Stocks in Europe were also off. Hong Kong's Hang Seng was up 0.57%, and Japan's Nikkei climbed 0.49%.

No data. The New York Fed's William Dudley and the Philadelphia Fed's Charles Plosser speak today.

JP Morgan: A Bubble Is Out There. In a recent note, Jan Loeys, the bank's global head of asset allocation, warned of a new financial crisis when the Fed begins raising rates, the FT says. "Before CPI inflation has a chance to emerge, and before monetary policy is truly above neutral, a financial bubble will have popped up somewhere and will have corrected, pushing the economy down," Loeys writes. "That is what has happened in the past 25 years. The behavior of central banks gives us no confidence that this time will be different: Central banks talk about financial instability, but appear to define this mostly in term of bank leverage. Each successive boom and bust is always in another place. A bubble can emerge without leverage."