Here's a super-quick guide to what traders are talking about right now

Thomson Reuters

Dave Lutz, head of ETFs at JonesTrading, has an overview of today's markets.

• Global markets are mixed.
• Analysts are predicting a 60% chance the Fed raises rates in December.
• Oil is at a 7-month high.

Here's Lutz:

Morning!  US futures are basically unch as Russell hangs near Friday’s all-time highs.   It’s a mixed bag in Europe, but most markets rallying from lows – DAX is up 30bp - Banks the biggest downside weight, while healthcare, energy and industrials help mitigate losses.  Eyes on the IBEX getting hit thru 200d for almost 1% as Catalan angst ramps.   FTSE trading unchanged, with weakness in Banks and Miners being offset by a rally in Consumer.   London is trading 30% light to trend, while DAX is a touch heavier.  Tech and Smallcaps smoked in Asia - TOPIX added 50bp, but Hang Seng smoked for 1.4% as Chinese Property stocks get slammed while Shanghai down 30bp.  KOSPI lost 30bp, but KOSDAQ lost 1% - Nifty hit for 50bp, while smallcaps smoked for 3.5% before a small rebound, while Aussie gained small as Banks retreated 

With 13 Fed Speakers this week, including Yellen and Fischer – Fed Funds are resting at a 60% chance of a December Hike.   The Dollar is rising on heavy Political uncertainty abroad - Snap elections in Japan have the Yen down - Merkel’s weaker showing weighs on Euro, as well as PIIGS debt - Political angst weighs on Kiwi$, while Sterling weaker as Moody’s downgrades UK.  Europe angst has Bunds seeing a bid, weighing on US Treasury Yields as the 10YY rests on the 100d.   Ore saw small bounce after last week’s 8% hit, while Nickel, Platinum and Gold all see a slight pop.   Oil making fresh 7month highs early, as WTI nears a $51 test.   Softs are seeing weakness across the board.

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