10 things you need to know before the opening bell

Here is what you need to know.

The Turkish lira is diving after Moody’s warned the worst was yet to come for the country’s banks. The lira was down about 2% at 6.4035 per dollar after the ratings agency Moody’s said there was a “heightened risk of a downside funding scenario, where a deterioration in investor sentiment limits access to market funding.”

The US Senate confirms the Fed’s vice chair. Richard Clarida, a managing director at the fund manager Pimco who is also an economics professor at Columbia University, was confirmed by a vote of 69 to 26, Reuters says.

Trump freezing Canada out in NAFTA negotiations is ‘straight from “The Art of the Deal.”‘ President Donald Trump seems to have used a page from his book “The Art of the Deal,” which discusses successful negotiations as zero-sum games won by keeping others on their toes and maximizing leverage, by freezing out Canada in NAFTA talks.

Morgan Stanley is urging its superrich clients to pull out of one of the market’s hottest corners. Morgan Stanley Wealth Management has told its clients to “consider taking profits” in the consumer-discretionary sector and has offered three alternatives.

A new area of the stock market is quietly crushing it – and a few simple trades can get you in on the action. S&P 500 healthcare stocks have quietly returned 10% since the start of the third quarter – two full percentage points more than any other sector.

Thomson Reuters is buying back a ton of stock. The news and data company will buy back $US9 billion worth of stock, using the proceeds of the sale of the majority of its Financial and Risk business to The Blackstone Group, Reuters says.

Aston Martin has plans to go public. The high-end British carmaker is expected to go public at a valuation of about £5 billion, or $US6.44 billion.

Stock markets around the world are mixed. Hong Kong’s Hang Seng (+0.23%) led the gains in Asia, and Britain’s FTSE (+0.5%) lags in Europe. The S&P 500 is set to open little changed near 2,899.

Earnings reports keep coming. American Eagle and Dick’s Sporting Goods will report ahead of the opening bell, while Salesforce releases its quarterly results after markets close.

US economic data flows. The second estimate of second-quarter gross domestic product will be released at 8:30 a.m. ET, and pending-home sales will cross the wires at 10 a.m. ET. The US 10-year yield is down 1 basis point at 2.87%.

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