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! Some weakness in US equities, with the Spoos marked off 10bp as Flows head towards Sovs. Pretty much all red across continental Europe — The DAX is down 15bp as Airlines weaker on Lufthansa and Air France. Heavy profit-taking on Wizz Air #s the chatter, while Banks are weaker on Credit Ag and ABN numbers. In London, only Staples and Materials are in the green and Eyes are on a sharp lower reversal in MKS, but FTSE is up small. Volumes are good, with the DAX trading 30% above Trend. A breather in Asia after yesterday’s rip higher – Nikkei off small as Banks get slugged but Tech rallies – Hang Seng down 30bp despite China Literature leaping 86% – Shanghai up small – KOSPI up 30bp as KOSDAQ jumps 1.3% – Aussie up small – India off 50bp, bringing week losses to 1.5%

A sharp bid in German Sovs has Bunds hitting YTD highs, dragging down US Yields, with the 10YY trying to hold 2.3% in the overnight. Angst over US Tax Reform has the DXY off since mid-day yesterday, but Euros are failing to hold upside $US1.16, while the $/Y had a sharp reversal from 114 overnight. Ore off small after jumping almost 7% last 2 days, holding Copper and Nickel in the red, while Gold is seeing some life thanks to the falling greenback. Brent coming off 2Y highs as API reports a smaller draw than expected and China’s imports dropped — Natty gas reversing some of yesterday’s gains, dropping 1% early.

Read about the 10 things you need to know today…

Get the latest Oil WTI price here.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.