Crude oil pulls back.

Bob Iaccino covers the morning's market action, noting that U.S. equities are mixed while Russell 2000 futures lead. He discusses shifting rate hike expectations, with the probability of a December move rising to 75.5% while long-end Treasury yields fall. WTI crude oil gives back early gains as tensions around the Strait of Hormuz remain a focus. Iaccino also recaps global economic data, including unchanged Chinese interest rates and worse-than-expected European sentiment readings, before looking ahead to heavy earnings and upcoming U.K. CPI and EIA crude inventory data.