NewsWare‘s Trade Talk

NewsWare’s Trade Talk: Wednesday, June 22

S&P Futures are significantly lower this morning as the market's sentiment turns bearish due to rising inflation & interest rates. Fed Chairman Powell is scheduled to speak today in front of the Senate Committee on Banking, Housing, and Urban Affairs. His comments will be closely watched and he is expected to continue with his hawkish views. We also have a number of speeches today from other Fed members which will likely support Powell in his quest to raise interest rates at all costs in an effort to curb inflation. President Biden is expected today to push lawmakers for a 3 month tax holiday of federal taxes on gasoline. He has also invited the CEOs of the major oil companies to the White House for a discussion on ways to lower oil prices.

NewsWare’s Trade Talk: Tuesday, June 21

S&P Futures are displaying a strong move higher this morning as traders return from a three-day holiday feeling a bit more optimistic. Banking, Tech, and Travel sectors are all displaying solid gains this morning. Markets in Asia and Europe are also higher and Crude oil is up over 1% from Friday's sell-off.

NewsWare’s Trade Talk: Friday, June 17

S&P Futures are trading higher this morning as the market continues to adjust pricing based on the Fed's recent rate hike. Fed Chairman Jerome Powell is scheduled to speak this morning as he is providing the opening remarks at a conference today. On the data front we have May's industrial and manufacturing production due at 9:15 a.m., and the May leading index at 10 a.m. The Baker Hughes Rig Count is due at 1 p.m.

NewsWare’s Trade Talk: Thursday, June 16

S&P Futures are down hard this morning as futures reverse post-Fed rally. Global central banks are now rushing to tighten policy to avert currency risks being created by the stronger dollar. Weakness is being seen n Europe this morning and in Asia overnight. Oil is moving lower as demand prospects and the stronger U.S. dollar. Later this morning we have the weekly Jobless Claims and Import Export reports due out. After the bell, today, watch for earnings from ADBE.

NewsWare’s Trade Talk: Wednesday, June 15

S&P Futures are trading higher this morning ahead of today's FOMC announcement. The ECB has called for an unscheduled meeting today to address bond market disruption. Technology and financial stocks are poised to open higher. Oil is lower as President Biden is said to be considering a new tax on oil companies' profits. Major banks now expect the FOMC to raise rates by 75 basis points.

NewsWare’s Trade Talk: Tuesday, June 14

S&P Futures are trading higher this morning. The FOMC starts its two-day meeting and will be announcing a change to monetary policy tomorrow afternoon. The major banks now believe that a more robust response from the Fed on interest rates is likely. While no Fed official has mentioned a rate hike above 50 basis points in the last month, the major banks are now expecting a 0.75% hike in interest rates to be announced tomorrow afternoon as a result of Friday's hot CPI print. Oracle delivered a strong earnings beat last night. Bank stocks are higher in Europe this morning and oil prices continue to move higher on supply concerns.

NewsWare’s Trade Talk: Monday, June 13

S&P Futures are down over 2% in premarket trading. Markets are holding a key support level. Markets are focused on Wednesday's Fed meeting and Powell press conference. Futures could test pandemic lows if the current levels are broken. Oil prices are down over 1% as China initiates new Covid lockdown in its major cities.

NewsWare’s Trade Talk: Friday, June 10

BREAKING NEWS: CPI rises 8.6% in May vs. the expected 8.3%. S&P Futures slide as the market digests this morning's CPI release.  The yield on the 10-year Treasury is down about 1 basis point to 3.029%, while the 2-year Treasury yield rose about 3.4 basis points to 2.8455%. President Biden is scheduled to deliver remarks on inflation today at 1:45 pm ET. NFLX is off more than 8% this morning after Goldman downgrades the stock to sell. Oil prices are trading higher and Russia cuts its key interest rate back to the prewar level.

NewsWare’s Trade Talk: Thursday, June 9

S&P Futures turned lower after trading higher this morning. China is said to be issuing another lockdown in parts of Shanghai that could dent oil prices today. Ant Groups IPO appears to be moving forward as Beijing appears less resistant. The key economic reports today are the ECB announcement at 7:45 am ET and Jobless Claims one hour before the market opens. Vail Resorts and Docusign are set to release earnings today after the bell.

NewsWare’s Trade Talk: Wednesday, June 8

S&P Futures are lower this morning as sentiment remains fragile. At issue is whether the economy can skirt a recession as it faces rising interest rates and inflation. A key inflationary report, the consumer-price index data is due Friday and is expected to show inflation in the U.S. held steady at 8.3% in May. Oil extended its gains in Europe ahead of data from the DOE that is expected to show another sharp drop in U.S. crude inventories. Treasury Secretary Janet Yellen warned yesterday that inflation in the U.S. would likely remain elevated for some time.