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.

• Investors are still spooked by rising global tensions and safe havens, like gold, are rising.
• International markets are mostly red Thursday.
• The US dollar is rising as investors look to inflation data being released tomorrow.
• Oil is up and testing the $50 barrier.

Here's Lutz:

Morning! Some action still into Havens, with the Swissie bid again - Gold is hanging right near 2month highs and that $/Y is downside 110 early. US Futures are sliding, with Spoos off 40bp, and the Russell continuing to fade, dropping 60bp early - All eyes on Dept Stores start reporting, with KSS this AM and popping on the headline. A wide sea of red overseas, as the DAX drops 60bp in decent volume, led by a 1% drop in EU Fins. London under pressure due to heavy commodity exposure, with Anglo and Glencore leading Miners lower, and Big Oil dropping. A heavy rash of stocks going Ex-Divvy provided heavy downdraft as well. In Asia, KOSPI hit 10week lows early, but managed to post only a 40bp loss - Sensex was hit for 75bp, continuing it's streak of losses on China tension - Heading into a 3day weekend, Nikkei and TOPIX closed basically unch, outperforming the surging Yen, but the "mothers" was hit for another 1%, bringing week's losses near 4% - Shanghai lost 50bp as Banks retreated, and Aussie off small.

Seeing a big into Sovs early, with Germany's 10YY testing yesterday's lows, and US 10YY off 1bp. Japan inflation comes in higher overnight, and all eyes are now on US Inflation tomorrow. The Greenback is showing some life, as Euro tests $1.17 in the overnight and Sterling drifting under $1.30. Most of the FX action was the Kiwi dollar smoked for 1% as RBNZ governor Graeme Wheeler said the currency "does need to adjust down". Sharp bid to Metals despite Ore losing small and Rebar retraced 1/3 of yesterday's surge - Silver up 1.2%, Gold 60bp while Copper is up small. Oil complex continues to rally, with Brent up 1% and WTI testing $50 in early trade. Natty Gas continues to squeeze towards $3 into inventory data later today.

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