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 watching on Thursday:

• US stock futures are adding to their biggest rally since election day. The S&P 500 and the Dow Jones Industrial Average closed at all-time highs on Wednesday, extending the so-called Trump rally.
• Treasurys continue to sell off after the European Central Bank said it was tapering its bond-buying program. Data on initial jobless claims are also due Thursday.

Here's Lutz:

Good Morning! I'm drinking from a fire-hose, playing catch-up this AM. Spoos adding to best their biggest rally since the Election ahead of the ECB (Headers at 7:45, Draghi presser 8:30ET). Upbeat China Trade Figures and follow thru from the US market yesterday has most of the globe a sea of green. Euro Stocks on 3month highs, DAX nearing up 5% on the week. Only the Fins are under pressure in Germany despite DB bouncing 1%. London is lagging the rally despite a pop again in those miners, as the Financials break lower across the continent. Asia Shares hit 1month highs despite China closing lower on their trade data - Nikkei ripped 1.5% higher, South Korea jumps 2% as Samsung leaps to all time highs, while the Resource-heavy and China-sensitive Aussie market jumped 1.2%. India continues to see a rebound from the recent hit, with the Nifty climbing nearly 2% in very light trade.

Treasuries and Bunds are falling under some pressure, with their 10YYs popping 4bp early into the Draghi. Dollar down 5 of last 6 days as the Euro hits 3week peaks and sterling recovers from yesterday's whack into the Article 50 Court Ruling. The Kiwi Dollar the globe's strongest overnight as their Central Bank implied they were done cutting, and Trade data from China propels commod currencies like the Loonie and A$. Ore holding recent gains overnight, and most industrial metals are marked higher early. Eyes on the Oil complex with WTI back over $50 after yesterday's smashdown, while Natty gas reverses lower into Inventory data later today. Softs looking good, with Wheat climbing 1.5% early.

Ahead of us today, we get the ECB Rate Decision at 7:45, followed by the Draghi Press Conference at 8:30, right when US Weekly Jobless Claims hit. At 10:30 we get the Natty Gas Inventory data, at at 11am the US Treasury announces next week's 3-year, 10-year notes; 30-year bonds auction schedule. At noon, we get the Household Change in Net Worth. Throughout the session we get November Sales Data from the Airlines, as the space continues to rip higher.