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

Via Dave Lutz at JonesTrading, here's a quick guide to what traders are talking about right now:

Good Morning! SPX Futures hovering just below record highs, adding 30bp as a strong commodity-led rally rips Europe higher. The DAX is nearly 1.8% higher in broad-based action, with Materials, Industrials, HC and Discretionary all adding 2%+. Fins are lagging, but remain well bid, helping Italy tack on 1.7%. FTSE is lagging, gaining only 40bp as profit-taking hits the miners, and Brexit angst continues to have players hesitating from buying London equities. Over in Asia, India and Aussie stand pat as expected, the Sensex adding 70bp and Aussie 20bp respectively. Nikkei added 60bp as exporters welcomed the falling Yen, while China added small. Thanks to the falling greenback, Emerging stocks on five-week peaks, led by Philippine shares jumping to a one-year high.

There is a slight bid for Treasuries and Bunds early, as the ECB gears to start buying corporates tomorrow. The $ is losing ground against most majors early, hitting the DXY to 4week lows - The Aussie$ ripping higher as RBA statement not as dovish as expected, Euro is popping as Eurozone Q1 growth revised up, and Sterling had a sharp bounce on futures rolls and today's polls showing "leave" losing slight momentum. Mixed picture in metals, as Ore leapt over 5% in Dalian, Rebar climbed 3.6% - but Copper is getting whacked for 2%, and the Falling Greenback not helping Gold. WTI is getting squeezie thru $50 as Nigeria Outages coupled with the anticipation of bid Cushing draws buoy the complex. Natty is seeing profit-taking after ripping higher in June, while all the softs are starting the day under some pressure.

Ahead of us today, we get Nonfarm Productivity and Unit Labor Costs at 8:30 - The EIA monthly short-term energy outlook at 12 - the US Treasury auctions $24 Bln 3-Year Notes at 1, and we get Consumer Credit data at 3pm. Tonight after the close, we get API data for Crude at 4:30, Street expecting a 3mm drop overall, with 1mm coming from Cushing. California, New Jersey, Montana, New Mexico, North Dakota and South Dakota all host their primaries tonight. Down in Washington, at 8am House Financial Services Cmte Chairman Jeb Hensarling discusses details of GOP plan to replace Dodd-Frank in speech to Economic Club of New York - President Obama meets with Indian PM Modi at 10:40am - while the House meets at noon to consider 11 bills including a measure that would direct TSA to take actions to reduce passenger wait times at airports.