10 things you need to know before the opening bell

Here is what you need to know.

Betting odds of a Clinton presidency are climbing. On Sunday, the FBI announced it was clearing Hillary Clinton after reviewing newly discovered emails. Betting odds of a Clinton presidency on British betting market Betfair spiked to over 80% from about 70% following the announcement.

Stock markets around the world are higher. The S&P 500 is looking to open higher by about 1.3% near 2,113. France's CAC (+1.8%) leads the gains in Europe after Japan's Nikkei (+1.6%) paced the overnight advance.

The Mexican peso is surging. The currency is stronger by 1.6% at 18.7134 per dollar as momentum swings back in favor of Hillary Clinton following news the FBI has cleared Hillary Clinton in its latest email investigation.

China's Fx reserves are at the lowest level since March 2011. China's foreign exchange reserves fell by $45.7 billion (£36.8 billion) in October to $3.121 trillion, making for their biggest drop since January, according to data released by the People's Bank of China.

Algeria is confident OPEC will stick to its deal. "There will be no return on the Algiers agreement. Now, we are in application of this agreement. The high-level technical committee is working on it. The Algiers agreement has not been called into question," Algerian Energy Minister Nouredine Bouterfa said, according to Reuters, citing state news agency APS. Brent crude oil, the international benchmark, is up 1.3% at $46.17 per barrel.

Chinese coking coal spiked to a record high. Prices surged by the daily allowance, 10%, on Monday to 1,516 yuan amid tight supply in China.

Profit tumbled at HSBC. Pre-tax profit fell 46% versus a year ago. "Reported profits included the impact of the disposal of our operations in Brazil, changes in the fair value of our own debt, and the costs of implementing our cost-reduction programmes," CEO Stuart Gulliver said in a statement.

Germany is widening its probe into Volkswagen. Authorities are investigating Volkswagen Supervisory Board Chairman Hans Dieter Poetsch for suspected market manipulation related to the auto maker's emissions scandal, Reuters reports.

Earnings reporting remains heavy. Dean Foods, Ferrari, MGM Resorts International, and Sotheby's are among the companies reporting ahead of the opening bell while Caesars Entertainment, Hertz Global, Marriott International, and Priceline highlight the names releasing their quarterly results after markets close.

US economic data is light. Consumer credit will cross the wires at 3 p.m. ET. The US 10-year yield is higher by 4 basis points at 1.82%.