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

From Dave Lutz, head of ETFs at JonesTrading, here's an overview of what traders are focused on right now"

Good Morning! US Futures are tentatively higher ahead of 5 FOMC speakers and the Draghi speaking today. Euro markets are enjoying a nice rebound, as Euro Banks bounce from early losses as papers report a rescue plan being formed for DB - EU Fins are up 1.5%, driving the DAX 1% higher. Oil & Gas producers bouncing slightly as well. The FTSE is lagging, but still up 70bp, as Yield Proxies like Staples and Telecom lag. Volumes across the continent seem to be pacing pretty average. In Asia, Aussie closed basically unch - Shanghai lost small in quiet trading ahead of a weeklong holiday, and the Nikkei was hit for 1.3% as Negative Rate fears weighed on the Fins. EM all closed mixed to slightly higher.

Stress is coming off of Bunds as DB rallies 2.5% - but very cautious action ahead of Draghi later today, while Wall Street awaits Yellen at the House. The US 10YY is climbing back towards 1.58%, while the Greenback is making gains against Euro, Aussie and Yen - Eyes are on the $/Y nearing a 100 test before rebounding. Despite the headwinds of the stronger $, most commodities trading higher - Copper rebounding from worst session this month as China Ore rises for the first time in a week - while continued OPEC chatter has a bid under the Oil complex, pressing WTI 1.6% higher. Natty gas is getting hit for nearly 2% into Expiry later this afternoon.

Busy day of headlines ahead of us today, with Durable Goods Orders at 8:30 - Fed's Yellen (Dove, Voter) testifies before House Financial Services Committee at 10 - 10:15 brings Fed's Bullard (Hawk, Voter) speaking, just before those DOE Energy Inventories at 10:30 (API showed a 750k DRAW against expectations of a 3MM BUILD) - at 11am Draghi Speaks After Meeting German Parliament - then 1pm brings the $28B 7Y note auction. At 1:30, Fed's Evans (Uber Dove - NonVoter) speaks, then 2:30 brings the Expiry of Natty Contracts. At 4:35 Fed's Mester (Hawk, Voter) speaks, then tonight at 8pm Fed's George (Uber Hawk, Voter) speaks.