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

Dave Lutz, head of Exchange Traded Funds at JonesTrading, has a quick guide to what traders are talking about on Monday:

• US stock futures are pulling away from all-time highs. The Dow Jones Industrial Average hit new highs four straight times last week.
• Crude oil is little changed ahead of the meeting of OPEC and non-OPEC countries to discuss production levels. Oil fell by about 2% on Friday after reports that Saudi Arabia was abstaining from discussions with non-OPEC members because there was no internal OPEC road map yet.

Here's Lutz:

Good Morning! US Futures retreating from Friday's all-time highs, with the Russell 15day streak in jeopardy as it drops 40bp as overbought conditions, falling Oil prices, and some disappointing retail sales figures all weigh. A Sea of red in Europe, with the DAX off 90bp as Euro Banks are getting hit for 1%, with all eyes on those embattled Italian financials - The FTSE MIB is off 1.4% today, leading exchanges to the downside. FTSE is off 70bp as Telecom and Fins weaken, but the Miners are holding recent gains. Volumes are light across the continent, with most exchanges trading 20-30% light to averages. In Asia, the stronger yen pressed Nikkei 40bp lower - Aussie lost 60bp - South Korea climbed 20bp as Samsung jumped on chatter of a split, Shanghai climbed 50bp, while Shenzen only gained 10bp on link headers.

There was a Strong bid to JGBs for most of the overnight, helping press German and US Yields down 4bp - but headers from Fed's Fischer and OECD on Trump's infrastructure plans have selling resuming in Treasuries, with Yields nearing overnight highs now. The Euro had a good bid on French Elections, but that has evaporated as the march toward Dollar parity continues. There was a Sharp Bid to Ore and Steel in China, each gaining 6%, and that has metals jumping: Zinc up 3%, Nickel 2% and Copper 1% higher. Even Gold is reacting, gaining nearly 1% from oversold conditions. WTI is all over the map, currently down 50bp ahead of Wednesday's Opec meeting in Vienna, while Natty gas has a 3% bid into Expiry today as NOAA sees Below-normal temperatures next week.

Ahead of us today, we have ECB's Draghi Speaking at European Parliament in Brussels at 9am - at 9:50 Bank of England Bond-Buying Operation Results hits, and 10:30 brings Dallas Fed Manf. Activity. ECB's Draghi speaks again at 11am, and at 2:30 Natty gas Contracts Roll. We will also be getting headers from the Non-OPEC Meeting today, as well as headers coming from some of the big hedge Funds presenting at the Robin Hood Conference.