NewsWare’s Trade Talk: Thursday, June 15

S&P Futures are trading lower this morning as the Fed's hawkish tone in yesterday's statement continues to affect the markets. The Fed's dot plot indicates the possibility of two 25 basis point hikes this year. Powell seemed to waiver on the likelihood of a rate hike in July. Retail sales and industrial production data out of China overnight missed estimates, The PBOC reacted by cutting its key policy rate. Later this morning the ECB will make a monetary policy announcement. Oil is gaining due to positive refinery activity out of China.