Ethereum hits a high: 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

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Traders work on the floor of the New York Stock Exchange (NYSE) in New York
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Thomson Reuters

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

Here’s Lutz:

Morning, and Welcome to the kick off of Earnings week, with several major US Banks posting Friday, and As the bellwether JPM HC Conference kicks off, we awaken to 2 Biotech deals this AM. US Futures are starting off a touch weaker, as Investors rotate back into Treasuries early. It’s a decent session in Europe tho, where the EU Stoxx 600 is kissing 3Y highs as the DAX climbs 40bp behind a solid rally in the Autos. Fins are red tho, as a bid develops in Bunds. FTSE is Lagging as Tech hit behind Micro Focus, and Healthcare and Staples both rest in the red. Another green overnight in Asia – Hang Seng up 30bp despite a 10% rip higher in Country Garden – Shanghai added 50bp – KOSPI added 60bp – Aussie up small as Miners finally took a breather, but HC and Fins rallied, while Japan was closed for Holiday

The 10YY is dipping under 2.47% early, while those 10Y Breakevens remain upside 2% – The DXY is bouncing from 4M lows on chatter the Bank of Korea acting to pressure the Won – Euro trying to hold $1.20 as German Factory Orders post light, but Confidence and Retail Sales outperform, while the $/Y is nearing a 113 test. Ore jumped 3.2% overnight and Rebar added to it’s 8.5% gains last week, but Industrial metals are starting the week in the red stateside. We do see a bid in Oil stocks again, as the DIP in rig Count is supporting prices this AM

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