NewsWare's Trade Talk: Thursday, March 7

S&P Futures are higher this morning ahead. Fed Chair Jerome Powell is schedule to speak before the Senate today. This evening President Biden will be giving the State of the Union speech. He is expected to highlight his administrations achievements and to touch on topics such as corporate taxes, immigration and the conflicts in Ukraine and the Middle East. Multiple key earnings announcements are scheduled for release after the bell today (AVGO, COST, DOCU, GPS & MRVL). In Europe, traders are awaiting commentary on monetary policy from the ECB this morning. The ECB is expected to hold rates steady. Oil prices are falling due to economic data out of China and the lack of a clear stimulus package from Chinese officials at the Two Session meeting.