NewsWare’s Trade Talk: Wednesday, May 3

S&P Futures are higher this morning. The key event today is the Fed announcement on interest rates, but the Fed's statement and the press conference at 2:30 pm ET will likely be the basis for today's trading. The debt ceiling remains a negative factor as political idealogy is preventing meaningful talks. Markets still have concerns with the banking sector, specifically those with exposure to commercial real estate. Europe is mainly higher this morning and oil prices remain weak.