Global Markets Are Staging A Nice Rally

Here's the scorecard:

Britain's FTSE 100 is up 0.59%.

France's CAC 40 is up 1.14%.

Germany's DAX is down 1.42%.

Spain's IBEX is down 0.83%.

Italy's FTSE MIB is down 0.81%.

Asian markets closed flat with Japan's Nikkei up 0.03% and Hong Kong's Hang Seng closing unchanged.

U.S. futures are up with Dow futures down 72 points and Nasdaq futures up 17 points.

In the U.S., the NAHB Housing Market Index from the National Association of Home Builders will be released at 10 a.m. ET. Economists estimate this index of homebuilder confidence was unchanged at 53 in August.

The big story of the week will be The Kansas City Fed's economic conference in Jackson Hole on Friday where Federal Reserve Board Chair Janet Yellen will speak.