10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, AMZN, FB, AMD, DB, CMG)

Reuters/Tyrone Siu

Here is what you need to know.

Ratings agency Moody’s the affirms US’s top-notch credit rating. Ratings agency Moody’s maintained the US’s top-notch “Aaa” credit rating Thursday, saying, “The diversity, dynamism, and competitiveness of the US economy, along with the US dollar’s status as the pre-eminent international reserve currency and very large size and depth of the US Treasury market, offset rising fiscal pressures stemming from aging-related entitlement spending, higher debt service payments, and recent policy actions that will likely reduce future revenues and increase expenditures.”

The world just produced more steel than ever before. Total crude steel production hit 148.3 million tonnes in March, surpassing the previous record of 144.5 million tonnes set in January, World Steel Association data showed Thursday.

Deutsche Bank is embarking on a major overhaul. “The bank will scale back activities in US Rates sales and trading, shrinking the balance sheet, leverage exposure and repo financing while remaining committed to its European business, which given its scale and relevance to our client base generates more attractive returns,” Deutsche Bank said.

Jeff Bezos says Amazon is ready for a debate on regulation. Speaking in Germany, Amazon CEO Jeff Bezos said his company has a duty to educate regulators, but will work with whatever new constraints it is given — even if they damage its business model.

Facebook shredded Wall Street’s Cambridge Analytica worries with a giant first quarter. The social-media giant earned $1.69 a share on revenue of $11.9 billion, easily beating the $1.35 and $11.4 billion that analysts were expecting. The number of monthly active users jumped 13% to 2.2 billion.

Chipotle beats. The burrito chain announced earnings, revenue, and same-store sales that came in above Wall Street expectations.