Here's a super-quick guide to what traders are talking about right now

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

• US stock markets are making early gains as the bond market is closed for Columbus Day.
• The Turkish Lira is down 2% after the US suspends the processing of new visas in the country.
• Gold is moving higher awaiting a North Korea test tonight.

Here's Lutz:

Morning!  US Futures are climbing, led by a 30bp pop in Nasdaq.  It’s a quiet one out there, as Columbus Day Holiday has US Bond Markets closed, while Holidays elsewhere close Canada, Japan, South Korea and Taiwan.  Europe is drifting around unch, as gains in Tech are mitigated as EU Fins are red despite solid “Stress Test” results.  Airlines are weak as Airbus hit on Friday’sCEO warning – while FTSE is down 30bp as Miners get hit - IBEX is up 70bp as Catalonia angst recedes, but volumes across the continent are posting 30%+ light on average.   Quiet in Asia, as Shanghai sees a modest 70bp rise as they return from week-long Holiday, and Aussie up 50bp as Banks continue to rebound

Treasury Yields are off a touch (Watch TYA today), and the Fed Funds are at 87% for December ahead of FOMC Minutes and Inflation data this week.  The Dollar is retracing gains as Sterling back over $1.31 on chatter May to reshuffle cabinet and Euro higher as German industrial production “smashed expectations”.  That said, the Turkish Lira down 2%, paring 6% losses as USA suspended the processing of new visas in Turkey, while the Kiwi$ is hit on election angst.   Ore was hit for 4% as “China's Return Puts Focus on Winter Curbs”, but Copper only giving back small of last week’s 3% pop – while Gold is showing some life as we await a test tonight from North Korea.   WTI is higher, despite Brent getting hit for 30bp and Gasoline stateside falling nearly 1%.

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