NewsWare’s Trade Talk: Friday, February 17

S&P Futures are lower and the sentiment remains bearish. Comments from 2 Fed bank presidents on the possibility of a 50-basis point rate hike have global markets pulling back and oil futures moving lower. It's important to note that James Bullard and Loretta Mester are not on the voting committee and that the majority of Fed officials are indicating a .25% hike at the next meeting. According to FedWatch there is only an 18% chance of a 50 basis point hike. This morning with have economic data on Import and Export prices and we will be hearing from 2 more FOMC members.