10 things you need to know before the opening bell

Here is what you need to know.

The Nasdaq is set for a 2.5% drop at the open after Amazon, Google, and Snap all delivered disappointing results. Meanwhile, the Dow Jones Industrial Average and the S&P 500 are on track to open down 1.3% and 1.9% respectively. Overseas, Hong Kong's Hang Seng (-1.1%) led the losses in Asia and Germany's DAX (-1.9%) paces the decline in Europe.

The e-commerce behemoth tumbled more than 8% in after-hours trading Thursday after reporting both third-quarter revenue ($56.6 billion) and fourth-quarter revenue guidance ($66.5 billion to $72.5 billion) that fell short of Wall Street estimates.

Google's parent company said revenue surged 22% in the third quarter to $27.2 billion, but shares fell 5% late Thursday as the number was shy of the $27.33 billion that analysts surveyed by Bloomberg were expecting.

The social-media company plunged 10% in after-hours trading Thursday after delivering better than expected top and bottom line results that were accompanied by a drop of 2 million daily active users.

"Looking ahead, our baseline expectation is a decline in the equity impulse to real GDP growth to about -0.25pp in the first half of next year," Jan Hatzius, the chief economist at Goldman, said in a recent note to clients.

Surveys from the Federal Reserve and market-research firms released Wednesday showed US businesses are growing increasingly concerned about goods coming into the US from other countries being more expensive and that retaliatory tariffs are making it harder to sell to places like Canada and China.

The yuan fell to 6.9642 per dollar on Friday, its weakest since May 2008.

The Bank of Japan continues its "stealth tapering." The Bank of Japan keeps saying that it will purchase around 80 trillion yen of Japanese government bonds to keep the 10-year JGB yield anchored to 0% - the only problem is it isn't.

Colgate-Palmolive and Phillips 66 report ahead of the opening bell.

The advanced reading of third-quarter GDP and PCE core prices will both be released at 8:30 a.m. ET before University of Michigan consumer confidence crosses the wires at 10 a.m. ET. The US 10-year yield is down 4 basis points at 3.08%, its lowest since October 2.