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

Thomson Reuters

Traders work on the floor of the NYSE

Dave Lutz, head of ETFs at JonesTrading, has an overview of today's markets.

• It's bank earnings time. JPMorgan, Wells Fargo and Citi are out this morning.
• Most global markets are up slightly.
• 10-year and Bunds are trading lower.
• Oil is up slightly.

Here's Lutz:

Good Morning! US Futures starting the day basically flat ahead of Earnings from the Big Banks, along with US Retail Sales. JPM is out, and a quick 1% gain was reversed quickly, while WMT is popping 1%+ ahead of retail sales on a street upgrade. Looks like a Summer Friday in Europe, where the DAX is unchanged as a rebound in Healthcare is tempered by profit-taking in the EU Banks. London is falling 20bp as Sterling strengthens, with Fins and Healthcare under pressure yet again. Volumes are abysmal - with most exchanges trading 20-30% light to trend. In Asia, Nikkei up 10bp as Fast Retailing weighed down Consumer stocks - KOSPI added 20bp, it's 3^rd record close in a row - Aussie popped 50bp behind a rebound in the Banks - Hang Seng up small, capping a 4% weekly advance - Shenzhen off 50bp "ahead of possible financial-system changes from the National Financial Work Conference" reports WSJ

Dovish positioning continues, with the US 10YY following German Bunds lower ahead of the US CPI read. The DXY is drifting around 10month lows - with the most severe losses coming against the "high-Yielding" currencies as the Aussie$ continues to fire higher, hitting 2017 highs. Metals are higher, with Copper up 40bp despite Heavy Profit-taking hitting Rebar in China for 3%, while Gold is caught between tailwinds from a falling US Dollar, and headwinds on a Drop in Indian Inflation. The Energy Complex continues to add to yesterday's gains, with WTI up 1% as traders await the Rig Count later today.

Get the latest Oil WTI price here.