NewsWare‘s Trade Talk

NewsWare’s Trade Talk: Thursday, July 1

S&P Futures are slightly positive this morning. Multiple sectors are positive this morning including Airlines, Autos, Financials, Oil, and Semiconductors. Oil prices are trading higher after experiencing heavy selling pressure over the last few days. Yesterday's release of the Fed's meeting minutes indicated that FOMC members are in sync that something needs to be done to combat the recent increase in inflation. Treasury yields are higher this morning and the closely watch 2 year 10 year yield curve remains inverted. U.K's Prime Minister Boris Johnson has agreed to resign and is under pressure to leave quickly. Samsung delivered a positive jump in revenue which is having a positive effect on technology stocks this morning.

 

NewsWare’s Trade Talk: Wednesday, July 6

S&P Futures are modestly weaker this morning as the market awaits the release of the FOMC's meeting minutes early this afternoon. This is a key economic release and traders will be looking for clues on possible monetary policy changes in Sept. Oil has pared back its early morning gains but is still trading fractionally higher this morning. The dollar is holding gains around the strongest levels in decades. European stocks are higher while Asian markets were lower overnight.

NewsWare’s Trade Talk: Tuesday, July 5

S&P Futures are lower this morning but off their early morning lows. Global sentiment is weakening causing futures to slide ahead of a host of economic reports due out this week. Tomorrow afternoon the Fed will be releasing the minutes from the latest FOMC meeting. The expectation is for the minutes to show that the Central Bank is going to continue its course of aggressive rate hikes in the near term. On Friday we have the Monthly nonfarms payroll report being released. Treasury Secretary Janet Yellen held a call this morning with Chinese trade representatives and discussed the state of tariffs on Chinese goods.

NewsWare’s Trade Talk: Friday, July 1

S&P Futures remain weak and are trending lower this morning with risks of additional selling pressure. Market headlines continue to focus on inflation and recession which is enhancing a bearish sentiment this morning. European stocks are displaying minor gains and oil is ticking higher. Oil prices are up over 2 percent this morning trading as traders see limited prospects for additional production. The key economic report for today is the ISM Manufacturing index at 10:00 am ET.

NewsWare’s Trade Talk: Thursday, June 30

S&P Futures remain bearish this morning as the market is preparing for another key economic report this morning. Oil prices have started to pull back from their earlier gains as session fears will deliver a drop in consumption. Crypto stocks are lower as the SEC rejects a key bitcoin ETF. The PCE core price index for May is due out today one hour before the markets open. The PCE is a key guide for the FOMC when making monetary policy decisions.

NewsWare’s Trade Talk: Wednesday, June 29

S&P Futures are trading higher after being lower earlier this morning. The market will be paying attention to the ECB Forum in Portugal today. Fed Chairman Jerome Powell will be speaking and traders will be looking to decipher his speech for indications on the future path of interest rates. Also this morning, one hour before the opening bell we have the GDP report being released. The oil market will likely see some volatility as the EIA will release two weeks' worth of stockpile data today.

 

NewsWare’s Trade Talk: Tuesday, June 28

S&P Futures are trading higher this morning. News reports that China is loosening its quarantine rules for intl travelers has intl indexes moving higher which is benefitting the S&P's this morning. Key economic reports for today included a report on Intl trade in goods, Consumer Confidence, and possibly the EIA oil stockpiles report from last week which was delayed due to system issues. Financial stocks are trading higher as multiple firms have increased their shareholder payouts after passing the Feds stress test. Energy stocks are higher as word spread that OPEC is reaching a ceiling on its production output.

NewsWare’s Trade Talk: Monday, June 27

S&P Futures are higher this morning ahead of this morning's Durable Goods report. Expectations are for a -0.4% dip in the May figures after rising 0.5% in April.  Futures have been weakening over the past hour, but remain positive. News reports indicated that Russia has defaulted on its foreign currency sovereign debt. The week ahead holds a wave of economic data and meetings, including an event on Wednesday with Jerome Powell and the heads of the European Union and U.K. central banks. The personal consumption expenditures index on Thursday also will be closely watched, considering the PCE measure is the Fed's preferred inflation indicator. There is also an OPEC meeting this week.

NewsWare’s Trade Talk: Friday, June 24

S&P Futures are moving higher this morning as bond yields are cooling. The economic spotlight for Friday will be on the final reading of the University of Michigan's consumer sentiment index, part of the reason the Fed opted for a 75 basis point rate hike at its recent meeting, instead of 50 basis points. That data is for release at 10 a.m., along with new home sales for May.  Oil prices are higher and Asain and European markets are positive.

NewsWare’s Trade Talk: Thursday, June 23

S&P Futures are positive this morning in the pre-market as stocks in the technology sector are moving higher. Oil prices remain weak as the CEO's of the major oil companies are headed to the White House for talks on oil prices. Fed Chairman Jerome Powell is scheduled to meet with Congressional leaders today. Also this morning we have the weekly jobless claims report being released. The weekly report from the EIA on oil stockpiles is being delayed due to system problems.