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

Dave Lutz, the head of Exchange Traded Funds at JonesTrading, has an overview of what is going on in markets on Wednesday:

• Stock futures are little changed as the holiday-related drop in trading volume continues this week. The Dow could try again today to hit 20,000.
• Crude oil is higher after data from the American Petroleum Institute showed a bigger than expected drop in weekly inventories. The Department of Energy will release its numbers today. Other than that, the data calendar is quiet, with existing home sales for November out at 10 a.m. ET.

Here's Lutz:

Good Morning, and Happy Winter Solstice! US Futures are mixed, with Industrials moving closer to that 20,000 mark, while those Transports getting held back by #1 weight FDX. EU Stocks selling off from 2016 peaks with Euro Banks among the worst performers thanks to the periphery - Monte (BMPS) was smoked for 18% earlier today before the Italian Senate OK'd a debt buying plan and it rebounded, but Spain's IBEX is getting hit for 1% as Spanish Banks Lose EU Case Over Mortgage Interest Repayments. London is outperforming as Miners rebound, but volumes everywhere are abysmal - Most exchanges trading 30-40% light to trends. In Asia, Shanghai rose 1.1% and Hong Kong 40bp - Aussie climbed 40bp to 2016 peaks, led by basic resources, while the Nikkei lost small as the Yen gathered upward Mojo. EM Asia all got beat lower.

Today is the Last day of ECB Bond Buying in 2016, but German Bunds still find themselves well-bid, with their 10YY hitting 24bp in the overnight. US Treasuries are a touch softer, with multiple bounces from 2.55%. The DXY is retreating from 14year highs - Euro squeezing back thru 1.04, Ten catching a bid - Swedish Krona bouncing as Riksbank extended its bond-buying, while the Kiwi$ rallying on higher dairy prices and Aussie$ rebounds from the recent whack as Ore and Steel stabilized overnight, helping Gold and Copper pop slightly. A Bigger drop in Crude Inventories has WTI up small this AM as we await DOE numbers later, While Natty is rebounding 2.5% from the recent drubbing.

Quiet ahead of us today, with EU Consumer Confidence and US Existing Home Sales for Nov at 10 - DOE Inventories hit at 10:30, API data showed Crude Inventories dropped 4.14mm (Street looking for -2.5M), With Cushing building 600k (Street wanted build of 315k). Gasoline dropped 2mm (Street wanted build of 1.5M). At 2:30 today, VIX Contracts Roll. Earnings from MY, BBBRY and RHT hit after the close.