NewsWare’s Trade Talk: Friday, May 12

S&P Futures are higher this morning and the premaket trading is mostly positive this morning. Institutional brokers may be warning of storm clouds ahead, but their comments is doing little to dampening this mornings positive sentiment. The market has a host of near term uncertainties including the debt ceiling talks, regional bank concerns and a another possible rate hike if Fed Gov Bowman can convince her colleagues at the Fed. European exchanges are higher and oil prices have reversed course and are now higher.