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

Thomson Reuters

Traders work on the floor of the New York Stock Exchange (NYSE) shortly after the opening bell of trading session in New York

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

• Walmart and Alibaba posted earnings this morning.
• The US dollar is rising.
• Gold and oil are up slightly.

Here's Lutz:

Morning - Futures under some slight pressure early - CSCO off 3% and we are waiting on WMT after BABA posts what looks like a good number. Just a sea of red across Europe - DAX down 20bp led by a drop in Fins, while Discretionary outperforms. FTSE off 30bp, but those Miners keep rallying. Volumes are terrible, with most exchanges trading 30% light to recent trends. In Asia - TOPIX off small - Hang Seng off 25bp despite Tencent's rally. Lot of eyes on China Unicom's Halt - Shanghai up 70bp - KOSPI up 5bp, with tech heavy KOSDAQ up over 1% as Sammy jumped 2% - India up 30bp as it continues to recover from last week's weakness - Aussie off small as Telstra smacked on Divvy warning

The 10YY is recovering yesterday's hit, climbing 2bp despite Germany's 10YY stuck in the red. Dollar is shrugging off the Fed and Washington, climbing against most majors - Euro breaking down into the Fed and Washington - Sterling weaker despite better UK Retail Sales, but Aussie Jobs sends A$ thru $.79c. Eyes on metals as Ore ripped 5% in China ahead of Housing data - Gold adding 70bp - Zinc continuing to add to yesterday's 6.5% rip - Copper off small. US Production scares has WTI taking out yesterday's lows early.

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