NewsWare’s Trade Talk: Wednesday, June 8

S&P Futures are lower this morning as sentiment remains fragile. At issue is whether the economy can skirt a recession as it faces rising interest rates and inflation. A key inflationary report, the consumer-price index data is due Friday and is expected to show inflation in the U.S. held steady at 8.3% in May. Oil extended its gains in Europe ahead of data from the DOE that is expected to show another sharp drop in U.S. crude inventories. Treasury Secretary Janet Yellen warned yesterday that inflation in the U.S. would likely remain elevated for some time.