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 brief overview of what's happening in markets:

• US stock futures are slightly higher at the end of a strong week for the market. At least one of the major indexes closed at a new high every day this week. Treasurys continue to sell-off, however, with the 10-year yield up four basis points to 2.429%.
• The US dollar is rallying while the euro is getting crushed following the European Central Bank's decision Thursday to extend its bond-buying program but scale back its purchases to €60 billion a month from €80 billion.

Here's Lutz:

Good Morning, and Happy Friday! US Futures are climbing small as Euro stocks adding to their best week since February, led by the health care and media sectors. The DAX is up 20bp despite the Euro Stoxx Banks Index falling over 1% after ripping 10% higher in a week. Italian Banks finally seeing a pullback, weighing the MIB into the red, the only major market under pressure in Europe. In London, FTSE up 20bp as Banks temper the gains, offsetting a jump higher in the Healthcares. In Asia, the KOSPI lost 20bp as the South Korean president impeached, China lost small - Nikkei topped 19,000 for the 1^st time in a year, as Topix Banks ripped 6% higher this week - Aussie added 30bp to close at 4month highs, led by energy and fins, while those Casinos got crushed Hong Kong.

Seeing a sharp divergence in Global Sovs, as Bunds remain bid - but Treasuries get sold - breaking the 2Y spreads towards recent wides. The DXY is ripping thru yesterday's peaks with the Euro on new Post-ECB Lows into the Fed next week. $/Y has gone full honeybadger, ripping thru Y115 overnight and shud propel the animal spirits in Equity. Gold struggling to hold 10month lows while Copper has its 1^st rally in nearly a week on a Solid China Inflation Print. The Energy complex holds a bid, with WTI above $51 into the Non-OPEC Meeting this week, While Natty Dread adds to its 9% weekly ripper to the upside. Softs are all marginally higher…

Ahead of us today, we get Wholesale Inventories and U. of Mich. Sentiment at 10am, World Agricultural Supply & Demand Estimates (WASDE) data at high noon - The Baker Hughes Rig Count hits at 1pm, while we get that CFTC "Commitment of Traders" data at 3:30. Focus then shifts towards this weekend's Non-OPEC meeting, and the 117^th Army-Navy Game just outside of Annapolis. The Midshipmen are currently riding on a 14game win streak.