10 things you need to know before the opening bell

Mick Jagger of the Rolling Stones seen during a concert of the band’s

Mick Jagger of the Rolling Stones seen during a concert of the band’s “No Filter” European tour at the Letzigrund stadium in Zurich.

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The Fed will start to unwind its financial-crisis measures in October. The Federal Reserve will begin unwinding its $4.5 trillion balance sheet in October by starting to not reinvest some of its bonds as they mature – that way, they’ll roll off its balance sheet.

Rate-hike odds are surging. The market sees a 60.5% chance the Fed hikes interest rates this year, according to Bloomberg data. That’s up from about 20% just two weeks ago.

China gets downgraded at S&P. The credit-rating agency lowered China’s rating one notch to A+, citing its rising debt load, South China Morning Post reports.

The Bank of Japan keeps policy on hold. With an 8-to-1 vote, the central bank kept interest rates, asset purchases, and its assessment on the Japanese economy unchanged from July.

Warren Buffett says the Dow could hit 1 million in 100 years. Speaking at an event celebrating Forbes’ 100th anniversary, the legendary investor said it was not unreasonable considering the Dow was trading at 81 a hundred years back, Reuters reports.

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Google signs a cooperation agreement with HTC. “With this agreement, a team of HTC talent will join Google as part of the hardware organization,” the Google hardware exec Rick Osterloh said in a statement.

Tesla and AMD are reportedly teaming up. The two sides are joining forces to make chips for self-driving cars, CNBC said, citing a source familiar with the matter.

Equifax mistakenly sent consumers worried about its data breach to a spoof site. Equifax mistakenly sent consumers to a fake phishing site that was designed to show how easy it was to spoof the webpage the credit-reporting agency created to inform consumers about its recent massive security breach, The Verge reports.

Stock markets around the world trade mixed. China’s Shanghai Composite (+0.27%) led the gains in Asia, and France’s CAC (-0.22%) trails in Europe. The S&P 500 is set to open little changed near 2,506.

US economic data flows. Initial claims and the Philly Fed will be released at 8:30 a.m. ET, and FHFA home prices will cross the wires at 9 a.m. ET. The US 10-year yield is unchanged at 2.26%.