This morning the British pound hit $1.27 setting another new low. The markets have a bunch of economic reports due out this morning let’s see if the bears take control or if they chase the bulls in circles.

Tesla’s upbeat Q3 production figures sent the stock higher by almost 9%. This morning world markets are up and the US Futures are flat. With little US economic news, the bulls and bears will be resting.

The UK announced it would exit the European union by March 2017. Germany’s markets are closed on holiday. The bulls and bears will be watching the Vice presidential debate Tuesday night as we ramp up for the jobs report on Friday.

This morning world markets in the red as Deutsche Bank sinks another 5% as ten hedge fund clients are reducing their dealings with the bank. Today is end of month, end of quarter so institutions may be in a buying mood to make their portfolios look good.

World markets reacted positively to the oil news this morning and US Futures are slightly down in premarket action. Germany’s Commerzbank is cutting 7,300 jobs as part of a restructuring effort to focus on its core businesses.