NewsWare’s Trade Talk: Tuesday, January 2

S&P Futures are displaying weakness this morning with Middle East tensions and pending economic data reports in focus this morning. Treasury yields are moving higher as markets prepare for a slew of economic data this week including PMI data today, Fed meeting minutes tomorrow and Friday's Non Farm payrolls report. European markets opened higher by have starting to pull back this morning. Oil is prices are higher with as Middle East tension rise on the announcement that Iran is sending a warship into the Red Sea.