[Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 5, 2016. REUTERS/Brendan McDermid] Via Dave Lutz at JonesTrading, here's a super quick guide to what traders are talking about right now: Good Morning! US Futures are mixed despite commodities higher and a few large deals early (RRC for MRD / PFE for ANAC). Overseas, very light trading as Austria, Denmark, Germany, Hungary, Luxembourg, Norway, Switzerland are closed for Holiday today. EuroStoxx is off 60bp and FTSE 40bp, but volumes are almost 50% light to recent averages. Pretty decent pullback of Bond Proxies, with Telecom and Staples getting hit for 1%+ across the continent, while a bounce in the miners help London offset broad weakness in the banking sector. Over in Asia, China shrugged off weaker April data to gain 80bp and Aussie climbed 60bp. While Nikkei gained 30bp, our desk in Kauai noted a bit of retail panic as the small cap Mothers index tanked 6.7% following weak earnings. The DXY is mixed, losing ground to Euro and commodity currencies liker the A$, but making some upside against Yen. In Japan, 10Y JGB yields hit -11bp as PPI collapsed to 6+Y lows – keeping Treasuries and Bunds just off Friday’s peaks. Ore climbed 1.3%, but Rebar was slammed for 4% in China, continuing last week’s record selloff – Silver has jumped 1.4%, dragging gold nearly 1% higher and back over $1280/oz. Oil prices have climbed to a 7-month high this morning – GS upgrades and Wildfires in Canada and militant activity in Nigeria have disrupted supply from two of the world’s largest oil producers. Softs are mixed, with Sugar losing 1% as net longs jump to 3Y highs… Ahead of us today, we get the NAHB Housing Market Index at 10. At 1pm the EIA releases its monthly drilling productivity report. At 2pm we get weekly Trade dta from Brazil. At 4pm the US Treasury releases Net Long-term TIC Flows – and tonight Fed's Kashkari Holds a Town Hall on TBTF in Minneapolis at 7pm. Pretty quiet in Washington – at 9:30 the Supreme Court issues orders, including list of new cases; at 10am, court issues opinions; Major outstanding cases include cases on consumer lawsuits, Puerto Rican debt, affirmative action, Obamacare contraceptive coverage, abortion, Obama immigration plan. Homeland Security Sec kicks off U.S. Chamber of Commerce Infrastructure Week 2016 with a speech at 9:50. SEE ALSO: YOUR FULL PREVIEW OF THIS WEEK'S BIG MARKET-MOVING EVENTS Join the conversation about this story » NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy
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