NewsWare’s Trade Talk: Thursday, July 14

S&P Futures are trading lower this morning as the market prepares for this morning's economic releases. JP Morgan delivered an earnings miss this morning as 2Q profit fell by 28%. Morgan Stanley is also expected to release earnings this morning. Bond yields are on the rise as recent talk of a possible 1% hike in rates is causing weakness in equities. Oil is trading lower ahead of Biden's meeting tomorrow with Saudi Arabia, the meeting is unlikely to result in a significant increase in their oil production.