10 things you need to know before the opening bell

Here is what you need to know.

Investors are running out of cash. While money market assets make up a record-low 17% of long-term funds, the cash balance of equity mutual funds also sits at an all-time low of 3.3%, according to data compiled by INTL FCStone.

Traders are flocking back to the US dollar. Traders reduced their short positions in the US dollar by $US3.7 billion to $US1 billion, the lowest net shorts since July, according to data released Friday by the US Commodity Futures Trading Commission.

India’s banks rip higher in the wake of a huge government stimulus package. Last week, the Indian government announced it would fund a 2.11 trillion rupees ($US32.4 billion) recapitalization of state-run banks, sending State Bank of India up 24% and Punjab National Bank higher by 48%.

Butter is going bananas. European butter prices are up 50% this year to about €600 per 100 kilograms amid a shortage of supply and increased demand from China.

Bitcoin soars above $US6,300 for the first time. The cryptocurrency hit a record high of $US6,306 a coin on Sunday evening, and currently its little changed near $US6,165.

Booming Switch sales cause Nintendo to raise its forecast. Strong Switch demand caused Nintendo to nearly double its profit forecast from 65 billion yen to 120 billion yen ($US1.06 billion) for the fiscal year year ending March, Reuters says.

Mark Zuckerberg is back in China. Facebook’s CEO returns to China for his annual trip amid increased efforts by Facebook to begin business in the country.

Stock markets around the world trade mixed. Hong Kong’s Hang Seng (-0.36%) lagged in Asia and Germany’s DAX (+0.09%) clings to gains in Europe. The S&P 500 is set to open down 0.21% near 2,575.

Earnings reports keep coming. Loews reports ahead of the opening bell while Mondelez and Texas Roadhouse are among the names releasing their quarterly results after markets close.

US economic data is heavy. Personal income and spending and PCE prices will all be released at 8:30 a.m. ET before Dallas Fed manufacturing crosses the wires at 10:30 a.m. ET. The US 10-year yield is down 1 basis point at 2.40%.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.