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

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Holiday decorations adorn the wall as traders and financial professional work on the floor of the New York Stock Exchange (NYSE), December 20, 2016 in New York City.
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Drew Angerer/Getty

Dave Lutz, the head of Exchange Traded Funds at JonesTrading, has a brief overview of what’s happening in markets on Friday:

    Volumes are thin again ahead of the holiday weekend and a week off the desk for many traders. “Darn quiet overnight in Asia,” Lutz writes. The US stock market will be open all day, but the bond market will close early at 2 p.m. ET. Gold is slightly higher, but on pace for its seventh weekly decline – the longest stretch since August 2015. West Texas Intermediate crude oil is also lower, down about 1% to $52.44 per barrel “for no particular reason.” Much of the economic data that would have been released today was published yesterday because of holiday quietness. But at 10 a.m. ET, new home sales for November and the University of Michigan’s preliminary survey on consumer confidence for December will be released.

Here’s Lutz:

Good Morning, and TGIF! Only 2 more bells until a long weekend for all, but many have gotten a head start – so volumes very thin in Holiday Trade. Futures are sliding small, with the DJIA adding to its 1st back-to-back losses since election. It’s a mixed bag in Europe, with Financials having a slight bid as DB and CS settlement headers spark some buying across the continent, and Monte dei Paschi bailout has a decent bid under Italian equities. Consumer stocks acting OK, while the miners are hanging green in UK Trade. Volumes are light tho, led by London having 50% normal turnover as the early UK market close (7:30amET) into a 4day weekend has plenty of red-dots across Bloomie Terminals in the City. Darn quiet overnight in Asia, Hong Kong off 30bp, while Shanghai closes almost 1% lower – Aussie breaks 4day winning streak. With Japan closed for the Emperor’s Birthday, volumes were extremely light.

US Treasuries are seeing a slight bid, with yields drifting just below 2.55%. Italy Debt tighter on the Monte headers and Bund yields are on lows, but attendance on Credit Desks is heavily impacted from Holidays in Asia, while many in the US and UK are getting a jump start on the weekend, ahead of the Early Close for US Bond Traders at 2. The DXY is just off lows, as Euro retraces a touch higher and Yen gathers some upward momentum – but those Commodity Currencies look poor, with A$ breaking towards last May’s lows. Gold is up small, but heading for a 7th weekly decline, the longest stretch since August 2015 – Copper off despite Ore finally bouncing in China. WTI is down 1% for no particular reason – and Natty Gas is adding small to the week’s gains

UK Traders get an early Close ahead of Christmas at 7:30amET, and they don’t come back until Next Weds. We have New Home Sales for November and U. of Mich. Sentiment to look forward to at 10am – then the Baker Hughes Rig Count hits at 2 – We are ~26 rigs away from being UP on 2016. At 2pm the US Bond Market Closes Early – and I’m not sure if the CFTC will release its “Commitment of Traders” data on schedule today at 3:30. 4pm brings the US Equity Close, and the start of a weeklong Holiday. Merry Christmas, Happy Holidays and a wonderful New Year to you and yours!