Here's a super-quick guide to what traders are talking about right now

Dave Lutz, head of ETFs at JonesTrading, has an overview of today’s markets.

Here’s Lutz:

Morning! Spoos adding to record close as US Tax Reform nears final votes this week (House and Senate targeting Tuesday). Russell is up 60bp, Nasdaq 50bp and S&P 40bp early. We also have a Broad Based rally in Europe, where the DAX is adding 1.6% as Banks, construction, technology and autos all up ~1.5%+. London is lagging, with the FTSE adding only 40bp as Sterling stages a rally. Volumes are light, with London trading 20% below normal averages. Strong Overnight in Asia – Nikkei up 1.5% as Banks ripped 2% higher – Hang Seng up 70bp on Financials – Shanghai up small as China’s Central Economic Work Conference begins – KOSPI unch – Aussie gained 70bp as Banks and Miners popped, while the Sensex had a 3.5% trading range as peeps worried Modi lost 2 regional elections

The US 10YY remains rangebound, while Bunds are trying to hold 30bp, as eye in Europe focus on the rip higher in Portuguese debt on the Fitch upgrade – The DXY is rolling as Tax reform is a “Sell the News” at this point – $/Y unch into BOJ later this week – Rand is stronger on Election headers – Kiwi$ higher on better consumer confidence. Gold trying for upside $US1260 early, while the launch of CME Bitcoin Futures has Bitcoin up 9% and upside $US19,000. Ore ripped 5%+ higher in China, but Copper is seeing some selling early. WTI nearing $US58, buoyed by headers about a falling Rig Count, Continued Forties outage, and Strikes in Nigeria, while Natty gas is rebounding 3% from last week’s 8%+ smackdown.

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