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

Thomson Reuters

Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York

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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