NewsWare‘s Trade Talk

NewsWare’s Trade Talk: Monday, June 5

S&P Futures are little changed this morning as the market turns to the next big catalysts event which is the upcoming FOMC meeting. While inflation remains elevated, the Fed is not expected to raise rates in the June meeting. Oil is trading higher this morning, OPEC is keeping production volumes at current quotes, Saudi Araba will however institute a voluntary production cut 1m barrels per day in July. Growth in China's services sector overnight is a bullish sign for equities. European markets are mostly higher ahead of a speech today by ECB president Christine Lagarde.

NewsWare’s Trade Talk: Friday, June 2

S&P Futures are trading higher this morning as the debt ceiling bill passes in the Senate. This morning Non Farm Payroll report is expected to display slowing job creation. In an interview, Kashkari of Minn Fed indicates he is focused on bring inflation down, under 2%. The Nikkei hit a new high and the Hang Seng rose 4% overnight. European markets are higher, and oil is gaining, up roughly 1.5% this morning.

NewsWare’s Trade Talk: Thursday, June 1

S&P Futures are trading higher this morning as the debt ceiling bill passes in the House. In China, the Caixin Manufacturing PMI data showed improvement for the first time since Feb. Fed officials came out yesterday in favor of a pause in rate hikes at the upcoming Fed meeting. Earning overnight we positive, yet CRM and CRWD are trading lower this morning. European markets are higher and oil is lower ahead of this morning stockpiles data from the EIA.

NewsWare’s Trade Talk: Wednesday, May 31

S&P Futures are weakening this morning. China's manufacturing activity slipped to 48.8 in May, causing concerning in Asian and European equities. Markets in the U.S are focused on the Debt Ceiling bill where a vote is expected in the House later this evening. A possible rate hike in June is on the table, chances for a June rate hike is at 0.65%. European markets are lower and oil is down over 2% ahead of the upcoming OPEC meeting.

NewsWare’s Trade Talk: Tuesday, May 30

S&P Futures are displaying gains this morning due to the progress of the debt ceiling talks which are headed towards a congressional vote later this week. AI and tech stocks are leading this morning's move higher and there are a host of earning reports due out after the close. European markets are mixed and oil is down over 1% ahead of the upcoming OPEC meeting.

NewsWare’s Trade Talk: Friday, May 26

S&P Futures are positive ahead of this morning key inflation reading. Debt Ceiling talk appear positive as the media indicates a framework of an agreement is starting to form. Once debt issue is resolve, all eyes will be back on upcoming OPEC and FOM meetings. European markets have reversed direction and are not trading higher and oil futures are positive in the pre market.

NewWare’s Trade Talk: Thursday, May 25

S&P Futures are displaying strong gains this morning on the back of blowout earnings from AI chip maker NVDA. The overall market remains cautious due to the ongoing stalemate on the Debt Ceiling decision. Credit rating agency Fitch has placed the U.S. "AAA" credit rating on a "negative" outlook. Markets will be paying atteniton to earnings, econimic reports , fed speak and political comments on the debt ceiling talks today. Europe is trading lower and oil is giving back some of yesterdays gains.

NewsWare’s Trade Talk: Wednesday, May 24

S&P Futures are continuing to weaken this morning. House Speaker Kevin McCarthy said the two sides are "not anywhere near close" to a debt-ceiling deal. Covid cases in China are on the rise and may peak at 65 million infections a week towards the end of June. This afternoon the FOMC will be releasing the meeting minutes from the FOMC meeting earlier this month. The minutes will likely have a hawkish tone. European exchanges are lower and Oil is gaining.

NewsWare’s Trade Talk: Tuesday, May 23

S&P Futures are slightly lower in choppy trading this morning with the ongoing debt ceiling discussion continuing to be a key factor for the markets. Yesterday's discussions were described as productive but without progress suggesting that there is still a significant degree of uncertainty surrounding the outcome of the negotiations. BABA is said to be cutting 7% of cloud staff. Guardant Health prices upsized 12.5m share offering at $28 suggests that the company is looking to raise capital to fund its growth initiatives. Shutterstock to acquire GIPHY from Meta for 53m. European exchanges are mixed this morning and Oil has started to move higher.

NewsWare’s Trade Talk: Monday, May 22

S&P Futures are flat to lower in the pre-market this morning. Markets are paying close attention to the Debt ceiling talks and Biden and McCarthy who are scheduled to meet later today. Media reports a productive phone call was held on Sunday. Over the weekend, President Biden said that he expects relations should improve very shortly between the U.S. and China. Meta Platforms were hit with a 1.3 billion fine by EU regulators. Micron is off 6% in the pre-market after China banned the company's chips from being used in critical information systems. There is a lack of economic reports scheduled for release today could lead traders and media outlets to focus on other economic events, such as St. Louis Fed James Bullard's speech, which could potentially influence market sentiment. European markets are mixed and oil is trading lower.