Here's A Quick Guide To What Traders Are Chatting About Right Now

New york stock exchange traders screensREUTERS/Brendan McDermidTraders watch their screens on the floor of the New York Stock Exchange, September 19, 2008. U.S. stocks soared on Friday, led by a surge in financial shares, as a series of sweeping steps to contain fallout from the credit crisis eased investor worries.

Stifel Nicolaus’ Dave Lutz has a summary of what traders are talking about right now:

Good Morning! Tuesday another rally day — as 13 of the last 15 Tuesdays are in the green now, helping the Russell get back upside 200dma – US Futures are jumping higher again this AM — Earnings providing some fuel today, with KO, INTC, CSX and YHOO all higher. Dovish commentary from Japan, coupled with EU Inflation printing near 5Y lows — has the “QE” trade on globally. In Europe, the DAX is up 1% in average volume, led by a 1.5% run in the EU banks as regulatory hurdles pass. Most focus was on China, where their GDP beats expectations, but comes in at a 2Y+ low. Aussie was able to shrug off the slowdown, and Miners moved higher as BHP Billiton beats and is planning to boost iron ore production – Thanks to dovish chatter from their Finance Minister – Japan leapt 3% from near a 6M low. Focus today will be on earnings, we have ABT, BAC, USB before the open today — AXP, COF, GOOGL, IBM after the close. Keep an eye on the Momentum Sectors, specifically Biotech — as we have a big First Trust ETF rebalance tomorrow (FBT), and we could see meaningful covers starting as we approach earnings for the IBB members as 16 names, comprising 45% of the IBB’s weight, report earnings next week.

The 10YY is higher, but remains under yesterday’s peaks, as focus shifts toward Yellen’s speech today at 12:15 and the Beige Book at 2pm. The Yen has broken down sharply against the $US, but despite the inflation print, € has a nice bid against the Greenback. Overall, the DXY is weaker, providing a tailwind for commodities — despite the China slowdown, we are seeing a rally in Copper, Silver and Gold — While the Energy Complex is popping despite API data showing a big build — DOE today at 10:30 expected to show a inventory pop of 1.5million barrels. Softs continue to rally, led by a 2% pop in Soybeans, one of the better performing Agriculture commodities YTD. Aside from the aforementioned, some catalysts scheduled today includes Housing Starts, Building Permits and Industrial Production for March at 8:30, The Bank of Canada Rate Decision at 10, A Small POMO at 11, Fed’s Lockhart Gives Closing Remarks on Financial Markets at 11:30, and Fed’s Fisher Speaks on the Economy at 1:25.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.