NewsWare‘s Trade Talk

NewsWare’s Trade Talk: Friday, May 12

S&P Futures are higher this morning and the premaket trading is mostly positive this morning. Institutional brokers may be warning of storm clouds ahead, but their comments is doing little to dampening this mornings positive sentiment. The market has a host of near term uncertainties including the debt ceiling talks, regional bank concerns and a another possible rate hike if Fed Gov Bowman can convince her colleagues at the Fed. European exchanges are higher and oil prices have reversed course and are now higher.

NewsWare’s Trade Talk: Thursday, May 11

S&P Futures are higher this morning ahead of some key economic data reports. Yesterday's CPI report pointed to a more durable slowdown. Media outlets continue to push the narrative of the Fed cutting rates later this year, this is only likely if the economy suffers a significant setback. European exchanges are slightly higher this morning ahead of a monetary decision from the Bank of England. Oil is 0.5% higher this morning.

NewsWare’s Trade Talk: Wednesday, May 10

S&P Futures are soft this morning as the market awaits this morning's CPI print President Biden's & congressional leaders agreed to continue talks, and ahead of the meeting, House Speaker Kevin McCarthy ruled out a short-term debt ceiling extension. European exchanges are slightly lower this morning and oil is off by 1% as last night's stockpiles report was bearish.

NewsWare’s Trade Talk: Tuesday, May 9

S&P Futures are weakening this morning amid a host of potential catalysts. President Biden is meeting with congressional leaders today for the first round of debt ceiling talks. Data out of China indicated that imports slumped 7.9% in April against expectations of a modest rise. The market is also preparing for tomorrow's CPI report. European exchanges are lower and oil is slipping due to the China import data.

NewsWare’s Trade Talk: Monday, May 8

S&P Futures are trading higher this morning ahead of a big week of inflation readings. The Debt Ceiling issue will continue to make headlines this week, President Biden is scheduled to meet with Congressional leaders tomorrow. Over 1000 companies will be releasing earnings this week. The key economic report is the Fed's latest Sr Loan Officer Survey. European and oil futures are trading higher.

NewsWare’s Trade Talk: Friday, May 5

S&P Futures are trading higher this morning as the market is benefiting from a solid earnings report from tech titan AAPL. The key economic event today is the non-farms payrolls report. Watch for St Louis Fed Bullard to deliver controversial comments in his speech this afternoon. European stocks are trading higher this morning with gains in the banking sector. Oil prices are rebounding, higher by more than 2%.

NewsWare’s Trade Talk: Thursday, May 4

S&P Futures are trading lower this morning. Stress in the banking sector remains heightened this morning. PACW is down 45% this morning as the lender is said to be considering strategic options, which include a possible sale. The key economic event today is the ECB's pending announcement on interest rates. After the bell today, Apple will be releasing earnings. European stocks are in the red this morning and oil prices are slightly higher.

NewsWare’s Trade Talk: Wednesday, May 3

S&P Futures are higher this morning. The key event today is the Fed announcement on interest rates, but the Fed's statement and the press conference at 2:30 pm ET will likely be the basis for today's trading. The debt ceiling remains a negative factor as political idealogy is preventing meaningful talks. Markets still have concerns with the banking sector, specifically those with exposure to commercial real estate. Europe is mainly higher this morning and oil prices remain weak.

NewsWare’s Trade Talk: Tuesday, May 2

S&P Futures are trading slightly down this morning ahead of today's start of the two-day FOMC meeting. Investors also digesting earnings from UBER, PFE and CAR and looking ahead to releases from SBUX, CLX and CZR. In terms of economic data, the latest JOLTS report is on the calendar today.

NewsWare’s Trade Talk: Monday, May 1

S&P Futures are flat to lower this morning, lack of morning volatility is due to holidays in Asia and Europe. Over the weekend China released weak Purchasing Managers index data which is causing oil prices to slide this morning. JP Morgan has agreed to buy First Republic Bank. Astellas Pharma is taking over Iveric Bio in a $5.9 billion deal. Later today the ISM Manufactuing index data is scheduled for release.