JonesTrading's Dave Lutz has what traders are chatting about right now: Good Morning! US Futures are jumping, led by a 1.2% pop in Nasdaq (ORCL/JBL #s, AAPL rebound). This mirrors strength overseas, tailwinds from the Fed committing to low rates, and ECB nearing Asset Purchases. The DAX is up 2% in heavier trade, led by Discretionary and Tech – while the only market red is Greece as elections yesterday were a “Sell the News”. The Energy covering we saw yesterday was global, as Dubai jumped 13%, the most on record, Saudi was up 8.6%, and Abu Dhabi jumped almost 7%. Over in Asia, Sentiment stronger in Russia as the Micex climbs 6% (Ruble Stable, Putin Presser), and the Nikkei jumped 2.3% as the Yen fell and Sony jumped 5% after cancelling the release of “The Interview.” Shanghai underperformed as Housing Prices fell again, the 3rd straight annual decline, while Aussie climbed 1% as Miners popped despite a fresh overnight low in Ore prices. The US 10YY continues to climb, bearing down on 2.19%, while strong demand for Bunds has German Yields basically unchanged. The “Policy Sensitive” 2YY remains near yesterday’s highs, helping the Yield Curve steepen, a nice tailwind for Banks. The Euro is weaker, and nearing recent lows, and there was High volatility in Swiss Franc as they introduce negative interest rates to keep their currency lower against Euro. Focus remains on Oil, where another big spike in WTI above $58.50 is failing. Some very wild gaps higher the last 24hours, only to eventually evaporate. WTI was up 4% earlier, up “only” 1.9% now. Gold is climbing 1% and well over $1200 as German Breakevens climb higher, but still show deflation in 5years. Scheduled Catalysts today include Weekly Jobless Claims at 8:30, Markit US Services PMI at 9:45, US Leading Index at 10, and Natty gas Inventory data hits at 10:30. Keep a close eye on the Yen today, we have a major catalyst overnight as the BOJ meets….SEE ALSO: 10 Things You Need To Know Before The Opening Bell Join the conversation about this story »
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