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

Dave Lutz, head of Exchange Traded Funds at JonesTrading, has a quick overview of what traders are watching on Monday.

The biggest news is in the mergers and acquisitions space. On Saturday, AT&T announced that it agreed to buy Time Warner for $107.50 per share, or $85.4 billion. And TD Ameritrade said on Monday that it is buying Scotttrade for about $4 billion.

It’s the busiest week of earnings season. Visa reports after the closing bell on Monday. Apple, Tesla, and GM results are on deck later in the week.

Here’s Lutz:

Good Morning! Format a bit different today …

  • US futures up 40-60bp. $100bln of deals on the tape (TWX, GNW, Scottrade, BEAV) ahead of the Busiest week of SPX earnings, with ~180 names reporting.
  • Earnings propelling shares in Europe, and Spain jumping 1.5% as the country ended its 10-month leadership impasse.
  • Banks continuing to act well across Europe, ahead of DB reporting on Thursday. EU Banks have regained Brexit Losses.
  • Asia Mixed – Shanghai climbed 1.2%, Hong Kong popped almost 1%, Nikkei gained 30bp, tempered by weaker Trade data, while Aussie lost 40bp in broad-based selling.
  • Euro is stronger early, as Eurozone PMI expands at fastest rate this year.
  • US 10YY is breaking downside 200dma as German Bund Yields break back downside 0%.
  • Oil Weaker despite $ coming in — Focus on Iraq saying they won’t adhere to quotas.
  • Base Metals still rallying — Ore up 2% in China on mill restocking — Turkish Scrap up another 1.3%.

Heavy List of Catalysts today:

ECO (8:30) – Chicago Fed Nat Activity Index

China (9) – Conference Board China September Leading Economic Index

FED (9) — Fed’s Dudley Speaks at U.S. Treasury Market Event in New York

FED (9:05) – Fed’s Bullard Speaks on Economy, Monetary Policy in Arkansas

ECO (9:45) – Markit US Manufacturing PMI

BOE (9:50) – Bank of England Bond-Buying Operation Results

ECB (12:15) – ECB’s Nowotny Speaks at University Event in Vienna

FED (1) – Fed’s Evans Speaks in Chicago

FED (2) – Fed’s Powell Speaks at New York Fed Event on Treasury Market

C$ (3:30) – Poloz and Wilkins to Appear Before Parliament

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