NewsWare's Trade Talk: Friday, June 28

S&P Futures are positive as markets anticipate the PCE report to indicate a continue drop in inflation year over year. This morning PCE data is really the key market moving data point for today. The probability of a rate cut by September is currently at 64%, rising to 76% by November and 94% by December. The Biden Trump debate will receive increased media attention today, but did not provide anything new revelations on either candidate. Nike released disappointing earnings last night. In Europe, markets are mainly higher. Oil prices continue to gain with supply concerns and geopolitical issues causing the move.