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

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

Good Morning! US Futures are retreating slightly this AM as earnings rolls - While NFLX is getting hammered, Big Blue is jumping 2% as we gear for almost 20% of the DJIA to report today. Over in Europe, a sea of Red as the DAX drops 1.2% - Weak metal prices weighed heavily on Exchanges - and Autos and Fins were under pressure, with those Italian banks getting smoked for 4% on EU Court headers, while Pharma hit on Novartis #s. FTSE is outperforming tho, losing only 40bp as Energy and tech outweigh the drop in those Miners. Volumes are awful tho, with most exchanges trading 30% light as Holidays take hold. Over in Asia, Nikkei up 1.4%, playing catch-up from Monday's Holiday, but Softbank whacked for 10% - Turkey trying to rebound, gaining small - Shanghai fell 20bp - Aussie snaps a 8day winning streak as the big miners fell, while KOSPI lost small as North Korea fired 3 short-range missiles. Most Emerging Markets selling off from 8month peaks.

They Like Havens this AM, with Bunds and Treasuries well bid, and Gold rallying 50bp. The Euro is getting hit as German ZEW collapses on Brexit angst - while the Pound spikes above $1.32 on better than expected inflation data. The DXY is breaking above the 200dma and 3month highs as Australian, New Zealand dollars slide on rate cut bets. Metals are showing a tentative bounce, despite Ore loosing 2.5%, bringing week's losses close to 10% in China. The Oil complex remains under pressure as Gasoline stockpiles weigh heavy, while Natty up small on the heat-wave that grips most of America. Softs are all under pressure, falling on the weight of the flying Greenback.

Pretty quiet day of catalysts today, with Builders in focus on Housing Starts and Building Permits at 8:30. No Fed Speakers as they are in Blackout ahead of next week's meeting, and the Energy complex will focus on Inventory data at 4:30 from API (U.S. Crude Supplies Seen Falling 2.1M Bbl in Bloomberg Survey, with Cushing crude unchanged - Wildcard will be Gasoline stockpiles. Expected to be -750k). In Politics, House not in session; Senate is in pro forma session - and the Republican National Convention Continues in Cleveland.