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 a quick overview of what's happening in markets on Tuesday. In brief:

• US stock futures are little changed as stocks continue to trade in a tight range after the 'Trump rally' that followed the election.
• In economic data, Markit's flash manufacturing purchasing manager's index will cross at 9:45 a.m. ET, while existing home sales data will be released at 10 a.m.

Here's Lutz:

Morning! US Futures drifting near unchanged as the Dow tries to rebound after being down 6 of the last 7 sessions as "Trump Trades" reverse. Europe up small in a broad based rally - Energy and Discretionary leading, while Italy is seeing a 1.3% rebound as the Fins jump and Generali recovers. FTSE not derailed from Brexit Ruling and Telecoms weaker on BT warning - Miners on Fire this AM - Rio, BHP and Anglo all up 4%+ on China headers. Volumes are strong across the continent, with London trading almost 2x normal volumes. In Asia, Japan hit for 60bp as the Autos got hit - Shanghai and Hong Kong climbed small in weakening volumes into the weeklong Lunar Holiday - Aussie jumped 70bp on the back of the Miners. All of EM Asia staged a rally on the falling $ and TPP withdraw.

Euros Selling Treasuries and Bunds early this AM, driving the US 10YY back upside 2.4% and giving some hope to the equity bulls today - DXY 100 rebound as Pound under 1.25 as UK Supremes say Parliament must trigger Article50 - Euro weaker despite German PMI better - $/Y on 7week lows on TPP angst - Lira hit as Turkey stands pat on rates. Ore in China ripped 7% higher on stockpiling, while Aluminum jumped to 20month highs as China is planning to Capacity to fight pollution. Copper is up 1% ahead of the Chile Vote, while Gold is just in the red despite the $ Jump. Energy all better, with WTI adding 20bp but Natty 2% higher after jumping yesterday afternoon on weather forecasts. Softs look better across the board despite angst from the Farm community on TPP.

Ahead of us today, World Bank issues its quarterly Commodity Markets Outlook 2017 while Workers at World's largest copper Mine (Escondida in Chile) vote on striking. At 9:45 this AM, we get Markit US Manufacturing PMI, just before the 9:50 Bank of England Bond-Buying Operation Results. At 10am we get Existing Home Sales and the Richmond Fed - and at 1pm the US Treasury holds an auction of 2year notes. We have unlocks today from COLL, KNSL, TCMD, TNXP - and after the close we are looking for #s from AA, STX and TXN. At 4:30 we get API data for Crude.