IBEX 35

S&P500 futures point to a slightly lower open, as Asian stocks rise to trade near decade highs, with Japan’s Nikkei 225 closing at highest since 1996. European stocks are little changed, with Spanish shares gaining after Catalan President rows back from an immediate declaration of independence. MSCI's all-world stocks index briefly hit a fresh record high in opening European trading as a 1.5% jump in Spain's IBEX added to a 10-year high set by Asian shares overnight.

As we pointed out yesterday, October 9 was a landmark day: it marked 10 years to the day since the pre-Global Financial Crisis peak in the S&P 500. How have various asset classes performed since then? That is the question that DB's Jim Reid set off to answer this morning in his latest edition of the "Early Morning Reid."

Spain's D-Day is here: the country's biggest political crisis since an attempted military coup in 1981 is about to get a resolution - one way or another - and as Bloomberg reports, Spanish police are ready to arrest Catalan President Carles Puigdemont "immediately" if he declares independence in the regional parliament, according to two people familiar with the government’s plans.

S&P futures are again modestly in the green as European shares hold steady ahead of a meeting of the Catalan regional parliament and a possible declaration of independence by Catalan leader Puigdemont, while Asian shares rise a the second day. The dollar declined for the 3rd day, its losses accelerating across the board amid growing concerns that Trump's tax reform is once again dead following the Corker spat and a rejection from Paul Ryan, with the move gaining traction after China set the yuan’s fixing stronger for the first time in seven days.

With no North Korean nuclear test over the weeknd contrary to a Friday morning rumor, S&P futures rebounded and edged higher as European stocks gain, led by Spanish shares after mass demonstrations in favor of Spanish unity and speculation Catalonia may back down on unilateral independence demands, while Chinese mainland stocks reopened catching up to gains missed during the holiday week following last weekend's RRR cut.