10 things you need to know before the opening bell

Train attendants visiting the national flag guard during a patriotic education event ahead of the 90th anniversary of the founding of the Chinese People’s Liberation Army in Beijing.
Reuters/China Stringer Network

Here is what you need to know.

Senate Republicans’ ‘skinny repeal’ is dead. The healthcare bill failed by a vote of 51 to 49 after Sen. John McCain cast the final vote as a “no.”

Japan’s inflation matches expectations. Consumer prices in Japan rose by 0.4% year-over-year, but that remains well below the Bank of Japan’s 2% target.

There’s way too much weed in California. Marijuana producers in California have grown eight times the amount that is needed for consumption, the Los Angeles Times reports.

Amazon misses Wall Street earnings expectations by a mile. The e-commerce behemoth reported earnings of $0.40 a share, well below the $1.42 that Wall Street was anticipating.

Starbucks is shutting down its Teavana stores. The coffee giant beat on the top and bottom lines and said it was closing all 379 of its Teavana stores.

Meg Whitman takes herself out of the running for Uber CEO. HPE’s chief executive tweeted, “I am not going anywhere,” and said the “speculation of my future has become a distraction.”

Dropbox is planning an IPO. The file-hosting service is close to hiring Goldman Sachs as a “lead adviser,” according to Bloomberg.

Stock markets around the world are lower. Australia’s ASX (-1.44%) led the losses overnight, and France’s CAC (-1.22%) trails in Europe. The S&P 500 is set to open lower by 0.35% near 2,467.

Earnings reporting remains heavy. American Airlines, Chevron, and ExxonMobil are among the names set to report ahead of the opening bell.

US economic data flows. GDP will be released at 8:30 a.m. ET, and University of Michigan consumer confidence will cross the wires at 10 a.m. ET. The US 10-year yield is up 1 basis point at 2.32%.