A look at the day ahead by Julien Ponthus.
Optimism for the third quarter earnings season has provided a timely boost for equity markets, which flirted with correction territory in September.
World stocks just celebrated their biggest one-week rally since June with Wall Street's favourite volatility gauge, the VIX Index, tumbling.
Earnings for the S&P 500 and European STOXX 600 are expected to rise 32% and 46% respectively, and so far, companies which have already reported results have exceeded expectations overall.
The stock had also surged on Friday after Goldman Sachs's 66% profit courtesy of a big wave of M&A and IPOs, which followed the four biggest U.S. consumer banks focused heavily on expansion.
Philips on Monday lowered its outlook as parts shortages bite and over on Wall Street there are now more downward than upward 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 wider index of Asia-Pacific shares outside Japan is losing 0.4%.
Futures for EU and U.S. equities are also in negative territory while Brent crude oil prices are trading much above $85 a barrel after hitting their highest price since October 2018.
Elsewhere bitcoin is above $62,000, with the first American bitcoin futures exchange system expected to begin trading this week amid global inflation worries.
Prices are rising too quickly for policymakers' tastes and Bank of England Governor Andrew Bailey warned investors on Sunday that he and his colleagues will have to act Investors are speculating that the BoE might become 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 watched this week with a meeting in Turkey with Hungary expected to raise its benchmark on Tuesday and Russia's central bank to follow on Friday.
Key developments that can give more direction to markets on Monday: