A view of Julien Ponthus looking at the day ahead.
Optimism for the third quarter earnings season has provided an timely boost to the equity markets, which flirted with correction territory in September.
Investment stocks have just experienced their biggest rally since June with Wall Street's favourite of volatility, the VIX indice, tumbling.
Earnings for the S&P 500 and Europe's STOXX 600 are currently expected to rise 32% and 46% respectively and, thus far, companies which have already reported results exceeded expectations overall.
Goldman Sachs' 66% rise in profits on Friday, courtesy of a huge wave of M&A and IPOs, came after four large U.S. consumer banks shone also.
On Monday, Philips lowered its outlook as parts shortages bite and over on Wall Street there are now more upward than downward revisions, suggesting Q 3 enthusiasm may have reached its peak.
Data showing that China's economy hit its slowest pace in a year due to power shortages, supply chain bottlenecks and property market wobbles, has dampened the mood and MSCI's broadest index of Asia-Pacific shares outside Japan is losing 0.4%.
Futures for European and US equities are in negative territory while Brent crude oil prices are trading well above $85 a barrel after hitting their highest price since October 2018.
Elsewhere bitcoin is above $62,000 with the first US bitcoin futures ETF expected to begin trading this week amid global inflation worries.
Prices are rising too quickly for policymakers' tastes and London Governor Andrew Bailey warned investors that he and his colleagues will have to act Investors are speculating that the BoE might be the first of the world's biggest central banks to raise rates, later this year or early in 2022.
Central bank action will be closely followed this week with a meeting in Turkey, Hungary expected to hike its benchmark on Tuesday and Russian central bank to follow on Friday.
The Key developments on Monday should help investors provide more direction to the markets: