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Monday, May 2, 2016

Here's a super-quick guide to what traders are talking about right now (SPX, SPY, DJI, IXIC, IWIM, DXY, USD, TLT, TLO, USO, WTI, OIL, VDE)

[Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 28, 2016. REUTERS/Brendan McDermid]Thomson Reuters Via Dave Lutz at JonesTrading, here's a super-quick guide to what traders are talking about right now: Good Morning! US Futures are climbing small, led by a 30bp pop in the Russell - Trading overseas quite quiet with many exchanges including London closed for Holiday, having most exchanges in Europe seeing turnover 25-40% below the average trend. The DAX is climbing almost 1% tho, with exporters like Autos and Financials jumping in Frankfurt. Italy’s Banking sector was a “Sell the news” after Italy’s government-orchestrated bailout fund undertook its first rescue mission tho, hitting their market for almost 40bp. Over in Asia, Japan reopened and was hit for 3.1% as the Yen ripped higher - Japanese markets are closed from Tuesday through Thursday for “Golden Week” - Aussie lost 20bp as Westpac results weighed – while Markets in Hong Kong, China, Taiwan, Singapore and Malaysia were closed for public holidays. Treasuries are holding Friday’s bid as Bund Yields drop to 25bp from Friday’s 31bp peak, knocking the US10YY to 1.81%. The Yen is retreating slightly from a 18month high as Abe begins his roadshow across Europe – but the Euro is popping early, and nearing 1.15. With the DXY rapidly approaching the lows of August 2015, we have a tailwind for commodities, led by Gold popping 75bp and trying for air above $1300. The Oil complex is shrugging offFriday’s OPEC headers and rapidly approaching unchanged, with WTI nearing $46 early as Gasoline breaks into the green. Natty gas tho is getting hit for 2% as (hopefully) warmer May weather comes into focus. We do have a day chock full of Central Bank Speakers, starting with Fed's Lockhart (Non-voter, Neutral), at 8:50. We get Markit US Manufacturing PMI, right when the ECB Publishes Weekly, Monthly QE Holdings. Draghi Speaks at ADB Meeting in Frankfurt at 10am, just as US ISM Manufacturing and Construction Spending hits. After the close, Fed's Williams (Non-voter, Neutral) Speaks in Los Angeles at 5:30. Down in Washington, the House and Senate are not in session, but headline focus will be on Puerto Rico not making a $420mln debt payment today. NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy


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