NewsWare's Trade Talk: Wednesday, July 17

S&P Futures are giving back some of yesterday's big gains with tech shares falling this morning. Market is aggressively moving out of tech and into small caps. White House is looking at more restriction on tech sales by foreign companies. Five Below lowered its eps guidance and said that it's CEO is stepping down. Also seeing earnings beats from ASML, JNJ, CFG & USB in the pre market. In Europe, markets are lower as Trump talks up tariffs on foreign companies. Earnings remain a key factor today with AA, UAL and DFS to report after the bell. Oil prices have turning higher due to a draw in stockpile estimated for last night's API report. Stockpiles data will be monitored closely.