10 things you need to know before the opening bell

Here is what you need to know.

Oil is on track for its worst first-half performance since 1997. Oil has tumbled more than 20% so far in 2017.

The kiwi spikes after New Zealand’s central bank keeps policy on hold. The New Zealand dollar, often referred to as the “kiwi,” is higher by 0.5% at .7260 against the dollar after the Reserve Bank of New Zealand held its key rate at 1.75%. The bank said that “the growth outlook remains positive, supported by accommodative monetary policy, strong population growth, and high terms of trade.”

Iron ore is in the middle of its longest winning streak since December 2015. The commodity has gained for six straight sessions, tacking on 6.5% over that time.

Ethereum flash-crashed. On Wednesday afternoon, the red-hot cryptocurrency crashed from $US296 to $US13 before quickly recovering its losses.

Snap reportedly bought an app that lets your track your friends. In what appears to be one of its largest acquisitions ever, Snap paid as much as $US350 million for Zenly, TechCrunch says.

Oracle crushes earnings, shares spike 9%. The company earned an adjusted $US0.89 per share on adjusted revenue of $US10.94 billion, both well ahead of estimates.

Altice USA prices its IPO. The cable provider priced its initial public offering at $US30 a share. It will trade under the ticker “ATUS.”

Stock markets around the world are lower. China’s Shanghai Composite (-0.28%) lagged in Asia and France’s CAC (-0.54%) trails in Europe. The S&P 500 is set to open down 0.10% near 2,433.

Earnings reports trickle out. Bed Bath & Beyond and Sonic will both report after markets close.

US economic data is light. Initial jobless claims will be released at 8:30 a.m. ET and the FHFA House Price Index will cross the wires at 9 a.m. ET. The US 10-year yield is down 2 basis points at 2.14%.

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