Stocks in Rally Mode: Here's a super-quick guide to what traders are talking about right now

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., November 9, 2017. REUTERS/Brendan McDermidTraders work on the floor of the NYSE in New YorkThomson Reuters

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

Here's Lutz:

Morning! US Futures are starting under pressure, with the Spoos down 40bp, but I've been watching a steady rally over the last 2 hours from -1%. It's all Green in Europe, where the DAX is up 75bp led by 1.5% jump in Discretionary shares - Healthcare shrugging off rough headers from Sanofi and Novozymes, and the Banks are adding 60bp. London up 85bp as Banks jump 1.2%, and the Miners are adding small. Energy shares stronger behind Tullow and Statoil numbers, despite a drop in the price of Brent. Sloppy sessions in Asia, as Initial Sharp bids were hit as trade wore on - Nikkei up 20bp, surrendering the bulk of a 2%+ bid - Hang Seng lost 1% despite a rebound in Tencent - Shanghais lost 2.4%, with heavy focus on the absence of the "National Team" (Their PPT) and PBoC not injecting funds for 10days straight - KOSPI lost 2.2% led by a 3% drop in the KOSDAQ as Samsung dropped 3.5% - Aussie popped 75bp behind Consumer and Material shares, but Banks didn't like Commonwealth #s - India off small as RBI stands pat on Rates.

Some selling in Bunds has Germany's 10YY testing yesterday's highs, and we are seeing a Nice rally in Italian, Spanish and Portuguese debt. The US 10YY has bounced from the 2.75% level, but sees decent resistance at overnight highs near 2.8%. The Dollar is enjoying a broad rally, with Euro weaker despite a formal deal to set up a governing coalition in Germany, while Weaker UK House Prices her Sterling back under $139. Ore closes 1% higher in Dalian, but Industrial Metals are taking a breather - While Gold is up small despite the stronger Greenback. Oil is shrugging off Surprise Draws in Crude and Gasoline, with WTI testing $63 in the overnight as we await DOE later today. Softs are mostly bid, led by a 1% pop in Wheat

Here are the 10 things you need to know today.

Get the latest Oil WTI price here.
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