1) Asian stocks rallied big on Monday. Thai stock market up 3.6 percent, Jakarta by 2.9 percent, Korean Kospi by 1 percent. Japan GDP revised to a gain of 3.8 percent, that, combined with winning the 2020 Olympics (their fist since 1964), was good for a 2.5 percent gain in the Nikkei. The Shanghai index was up 3.4 percent (3 month high) as August exports were stronger than expected, up 7.2 percent.
Strong Japanese growth plus strong China exports all add up to boosters for the entire regional economies.
Chinese financials were also strong on a story that banks could begin issuing preferred stock, which would provide an alternative source of financing.
2) IPOs are picking up. Right now, according to John Fitzgibbons at IPOScoop.com, there are about 50 IPOs in active registration, with 18-20 since mid-August and four announced in the last week, including several biotechs.
Why the pickup? The stock market dictates the traffic flow. Despite all the concerns, we are still in a strong stock market.
Another factor is legislation. The JOBS act changed the way IPOs go public. It enabled companies to speed up the process of going public. In the past, a lot of hopes and dreams were put into a filing with the SEC, which was public. Everyone could see when the filing occurred, but it could take weeks or months before anything happened, if ever. Now they can submit something to the SEC that is private.
If the pieces fall into place, meaning if they can get the bankers and the clients who will buy the stock behind them...when they file the S-1, they can go public almost immediately when there is an immediate window.
3) Delta is also up this morning on word it will join the S&P 500 on Tuesday after the closing, replacing BMC Software, which is being acquired by Bain Capital.
—By CNBC's Bob Pisani