NewsWare’s Trade Talk: Monday, June 5

S&P Futures are little changed this morning as the market turns to the next big catalysts event which is the upcoming FOMC meeting. While inflation remains elevated, the Fed is not expected to raise rates in the June meeting. Oil is trading higher this morning, OPEC is keeping production volumes at current quotes, Saudi Araba will however institute a voluntary production cut 1m barrels per day in July. Growth in China's services sector overnight is a bullish sign for equities. European markets are mostly higher ahead of a speech today by ECB president Christine Lagarde.