NewsWare’s Trade Talk: Tuesday, August 16

S&P Futures are trading lower this morning as the market reacts to earnings from Home Deport and await results from Walmart. Oil is trading lower as the potential breakthrough on Iranian talks would lead to additional supply. The yield curve remains inverted with the 10-year bond yield at 2.806%, while the 2-year yield reached 3.218%. Later this morning we have the July housing starts and permits data and the industrial production figures for July. Tomorrow we have the release of the Fed's July FOMC meeting.