10 things you need to know before the opening bell

Here is what you need to know.

Catalonia’s parliament weighs its independence. Catalonia’s secessionist leader Carles Puigdemont will address parliament in Barcelona on Tuesday, and could ask for vote on a unilateral declaration of independence from Madrid, Reuters says.

Theresa May’s Brexit plans suffer a big blow. The European Union plans to reject Britain’s request to finalize the terms of a transition deal before the end of the year.

UK trade with the EU rises while its exports to the rest of the world fall. Exports of goods to the European Union increased by 4.1%, while exports to non-EU countries fell more than 8%, according to data released Tuesday by the Office of National Statistics.

Fed rate hike odds soar. The market is pricing in a 76.7% chance the Fed hikes before the end of the year, up from about 20% two months ago, Bloomberg data shows.

China's yuan is the most overvalued currency in the world. The yuan edges out the Swiss franc and Israeli shekel for the most overvalued currency on a trade-weighted basis, according to a note from Gautam Kalani, currency strategist at Deutsche Bank.

Ken Rogoff says bitcoin will eventually collapse. "My best guess is that in the long run, the technology will thrive, but that the price of Bitcoin will collapse," the former chief economist of the International Monetary Fund said in a column for Project-Syndicate.

Bitcoin holds just shy of a record high. The cryptocurrency is little changed at $4,763 a coin, just more than $200 shy of its all-time high.

MongoDB reveals its IPO range. The database startup says it plans to price its initial public offering at $18 to $20 a share; giving it a valuation of about $930 million at the midpoint, which is less than its recent valuation of $1.6 billion.

2 Fed presidents take the mic. Minneapolis Fed President Neel Kashkari and Dallas Fed President Robert Kaplan will speak at 10 a.m. ET and 8 p.m. ET, respectively.

Stock markets around the world are mixed. China's Shanghai Composite (+0.76%) led the overnight advance and Germany's DAX (-0.18%) trails in Europe. The S&P 500 is set to open up 0.18% near 2,549.