NewsWare's Trade Talk: Friday, July 18

S&P Futures are extending their recent gains as earnings reports were positive and M&A activity starts to heat up. Fed Governor Waller came out swinging for a July rate cut, although this is unlikely to occur. On the economic front, the focus will be on the Michigan Consumer Sentiment report. President Trump is holding a dinner with republican Senators tonight to discuss key legislative priorities. Union Pacific is considering a bid for Norfolk Southern. The earnings report from Netflix was mainly positive, however the stock is trading lower this morning. AXP, IBKR, MMM And SLB are higher after releasing their earnings. On Monday morning VZ & DPZ are scheduled to report.